- Audioboom have fallen 30% over the past year
- Wilson previously worked for Audioboom
- Harvey previously worked for SiriusXM and CBS Radio
Shares in Audioboom (BOOM: AIM) were up 4% to 260p in morning trading as the podcast specialist said it was hiring two key sales executives ‘to expand the company’s revenue operations.’
Molly Harvey, formerly of SiriusXM and CBS Radio, joins Audioboom as vice president of brand sales, while Shaun Wilson, formerly of Spotify (SPOT: NYSE) and Sony Entertainment, joins as vice president of UK Sales.
Wilson returns to Audioboom where he previously held the role of head of UK sales.
The company said Harvey and Wilson will have access to record levels of advertising inventory through the Audioboom platform.
‘In March 2024, Audioboom created more than 1.1 billion available advertising impressions - 10% more than the previously announced record of 1 billion in October 2023.’
On 15 January, the podcast specialist reported a 13% fall in total revenue for 2023 to approximately $65 million compared to $74.9 million in the same year ago period.
However, reassuringly the company saw a ‘return to revenue growth’ in the fourth quarter of 2023 of approximately $19.2 million – the highest revenue quarter since the second quarter of 2022.
The company also anticipates record revenue in 2024 and a return to positive adjusted earnings before interest, taxation, depreciation, and amortisation.
NEW BRAND ADVERTISING UNIT
Audioboom has recently launched a new brand advertising unit which has allowed it to increase the company’s customer base with new early-stage commercial partnerships at eight of the 15 biggest advertising agencies.
The podcast specialist currently has 38 million unique global listeners downloading well-known podcasts like the official Formula 1 podcasts F1: Beyond the Grid and F1 Nation, Casefile True Crime (US), True Crime Obsessed (US), The Tim Dillon Show (US), No Such Thing As A Fish (UK) and The Cycling Podcast (UK).
DISCLAIMER: The author of this article (Sabuhi Gard) owns shares in Audioboom.
