AudioBoom revenues surge by 329pc as firms turn to podcasts

Year-on-year revenues were sent up 329pc at AudioBoom, an on-demand audio business, due to an increase in the popularity of podcasts.

The firms chief executive announced that AudioBoom is thriving thanks to a developing willingness among marketers to allocate budgets to audio services.

In its third quarter results, the company revealed that its number of monthly unique users had increased by more than 10pc compared to the second quarter, growing from 81m to almost 90m.

Audioboom also reported a 24pc increase in available advertising impressions to 602m in the third quarter, a rise from 485m in the second quarter.

The company has had remarkable success with the popular podcast called No Such Thing as a Fish, presented by researchers on BBC show QI as well as with the Totally Football Show podcast.

“Nearly 90m people listened to a Boom in August and this already incredible number of users continues to grow month on month,” chief executive Rob Proctor revealed.

“This provides a prime target for agencies and marketers who have now realized this engaged, motivated and attractive audience is an ideal demographic for clients’ advertising spend.

“Major marketing budgets are therefore increasingly being allocated to the podcasting and audio mediums.”

Proctor announced that the company had notched record advance bookings for the last quarter, adding that the future looks bright for the wider industry.

He added: “Since the period end, our industry continues to move forward apace; in the past month, there have been three significant investments into US podcasting companies.

“Both public and private capital is realizing the growth and global potential of podcasting, an industry in which AudioBoom is already a key player, and this clearly bodes very well for our future.”

On the other hand, internationally, AudioBoom secured an important re-signing in the shape of the popular Undisclosed podcast, while it announced that it continues to grow “rapidly” in India.