Podcast firm Audioboom boosts revenue on advertising rush

Podcast company Audioboom has posted a sharp rise in revenue for the year after ramping up its share of advertising spend in the rapidly growing audio market. The Aim-listed firm reported a 91 per cent increase in revenue to $22.2m (£16.9m) in the year to the end of December, while its loss before interest, tax, depreciation and amortisation was $3m, down from $4.7m in 2018. However, shares in the company dipped just over two per cent as the rate of revenue growth slowed compared to the first half of the year. Audioboom boosted its brand advertisers count and increased global revenue per 1,000 downloads in the final month of the year. It has also benefitted from its focus on premium content, where advertising impressions rose 60 per cent to 1.6bn.