{"id":112193,"title":"Audioboom (AIM: BOOM) aims for unprecedented revenue in 2024, following a resurgence in growth.","publisher":"Share Talk","author":"sharetalk","published":"2024-01-15T07:58:44+00:00","modified":"2024-01-15T08:03:32+00:00","canonical_url":"https://www.share-talk.com/audioboom-aim-boom-aims-for-unprecedented-revenue-in-2024-following-a-resurgence-in-growth/","markdown_url":"https://www.share-talk.com/audioboom-aim-boom-aims-for-unprecedented-revenue-in-2024-following-a-resurgence-in-growth.md","json_url":"https://www.share-talk.com/audioboom-aim-boom-aims-for-unprecedented-revenue-in-2024-following-a-resurgence-in-growth.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["advertising","Amazon Music","Apple Podcasts","Audioboom","BOOM","Brad Clarke","Brendan Regan","Danni Howard","dashboard","Deezer","downloads","EBITDA","Facebook","Google Podcasts","Helen Anderson","iHeartRadio","Joey Camasta","listeners","New Zealand","Pandora","podcast","Podcasting","publisher","RadioPublic","Saavn","Share Talk","SHOWCASE","Spotify","Stitcher","Stuart Last","Twitter","USA"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/01/head-phones-3-nov-23-750x406-1.jpg?fit=750%2C406&quality=89&ssl=1","format":"news","language":"en-GB","content":"**Audioboom Group PLC (AIM: BOOM)** is on track to achieve its highest-ever revenue in 2024, following a robust performance at the end of 2023.\n\nCEO Stuart Last shared his enthusiasm about the company’s progress, stating, “The final quarter of 2023 marked a significant turnaround, as we shifted back into growth. Our Q4 revenue exceeded US$19 million, the most since Q2 2022, showcasing the strides we’ve made throughout the year.\n\n“The advertising sector’s renewed optimism, evidenced by substantial budget commitments during the upfront booking season, has been a key driver. This has enabled us to secure over US$47 million in revenue for 2024 through early bookings.”\n\nThe leading global podcast company witnessed a resurgence in revenue growth in Q4, reaching US$19.2 million. This represents a 37% increase from the previous quarter and a 5% year-over-year growth.\n\nThe company also reported a return to profitability in the fourth quarter, with an adjusted EBITDA of approximately US$0.2 million, a significant improvement from a US$1.9 million loss in the prior quarter.\n\nAudioboom’s cash generation in the quarter was robust at US$3.7 million, an increase of US$0.7 million since 30 September.\n\nHowever, total revenue for 2023 was US$65.0 million, a decrease from US$74.9 million in the previous year.\n\nNotably, the company achieved a record eCPM (average revenue per 1,000 downloads) of US$58.82 in the quarter, up 59% from the previous quarter and 6% year-over-year."}