Sparks

Audioboom’s FY24 results are as outlined with the January trading update, with the group ending the year as the fourth largest podcast publisher in the important US market. The improvement in quality standards is helping drive margin, with the content more attractive to a wider range of advertisers and easier to transact for them, using Audioboom’s Showcase advertising marketplace. This should be helped further in the current year thanks to a new partnership with Sounder to use AI to identify brand safe and contextually appropriate advertising opportunities, increasing the attractiveness of the medium for global brands.

The Q1 trading update, issued alongside the 2024 results, shows revenue edging ahead despite the group dropping some of its lower-performing contracts, with a consequent benefit to adjusted EBITDA margin. Forward commitments are promising for the rest of the year and management expects at least to meet current market forecasts. The overall US advertising market may be cautious in the face of macroeconomic uncertainty, but the podcast market is proving to be an attractive environment for advertisers.