Audioboom posts Q3 financials

Audioboom has posted its financial results from the third quarter. The podcasting company reported a record high quarterly revenue of $5.7 million, up 86% from the year-ago period. Global revenue per 1,000 downloads reached $27.38 in September, rising 28% from the same month in 2018. Audioboom had 446 million available premium advertising impressions during the period. That figure grew 66% on-year. The company’s cash position has been in flux. It closed the third quarter on September 30 with $2.5 million, compared with $3.4 million as of June 30.

The platform secured continued contracts with several popular podcasts in the quarter, as well as signing new content and launching new shows through its Audioboom Originals Network.

“We’re pleased to confirm another strong quarter of growth for Audioboom, cementing our position as one of the largest independent podcast companies in the world,” interim CEO Stuart Last said. Last assumed the interim position after previous CEO Rob Proctor resigned last week. “New shows launched into our Audioboom Originals Network made a significant impact as we increased our commitment to creative bravery and solidified our marketing strategy. We continue to execute our strategy efficiently, proving our business model both in the US and the UK, and delivering dynamic growth across all our key performance markers. Audioboom is in the strongest position since its founding, and I’m excited to lead this incredible team into a new phase, fully focused on driving the core business forward and delivering value to our podcast partners and our shareholders.”

Anna Washenko