AudioValley, parent company of digital audio tech platform Targetspot and venerated streaming app Winamp, has released annual financials for full year 2021. Targetspot represents 92% of the company’s revenue.
“2021 was an extremely busy and fruitful year.” –Alexandre Saboundjian, CEO, AudioValley
For the full year, Group revenue reached €28.3 million (against €19.5 million in 2020) 1 , up 48.2% at constant exchange rates compared with 2020. This reflects the strong recovery seen especially from the 2nd quarter and, more broadly, the acceleration in the adoption of digital audio globally.
The Targetspot division (which accounts for 92% of Group revenue) continued to benefit from the adoption of digital audio by advertisers looking for new distribution channels for their ad campaigns. It reported revenue growth of 50%.
Meanwhile, the Winamp division (8% of Group revenue), which includes Jamendo, which markets the works of 45,000 musical artists, was again strongly impacted by the Covid crisis early in the year (Q1 down 13% compared with Q1 2020), but then recovered to break even at year end with slight growth of 1.8% compared with 2020, at €2.2 million.
A new winamp product called Bridger was launched this month. Bridger’s goal is to bring songwriters to copyright by offering an innovative and easy solution for online copyright collection.