Acast has released its financial results for last year. The podcasting company doubled its annual revenue from 180 million kroner ($19 million) in 2018 to 361 million kroner ($38 million) in 2019. Revenue growth of 148% in the Americas and 91% in Europe propelled the company to the strong annual results. Acast noted that its gross margin also improved from 34% to 36% for the year.
Content also grew, with Acast now boasting more than 10,000 shows globally and 1.9 billion listens across 195 countries. The company opened offices in France, Germany, and Ireland during the year to help expand its global footprint.
CEO Ross Adams offered this statement about the company’s performance in the press release:
“2019 was a tremendous year for Acast. We’ve firmly cemented our position as the world’s most significant podcast company in every sense – listens, creators and revenue. It’s with pride that we’re able to share our annual financial results showing the effects of securing significant investment in 2018 and, more broadly speaking, how the company has grown. We’re looking forward to continued success, recently launching in our first Spanish-speaking country, Mexico, and continuing to develop our tech and our output in 2020. It’s with a great deal of hard work, determination and passion for podcasting – and with considerable thanks to our incredible employees worldwide – that we have in essence doubled our revenue every year since we started trading.”