Shares and revenues at UK-based Audioboom are soaring despite stiff competition from the world’s digital giants
A year ago, podcast producer Audioboom was facing an uncertain future as management sought, ultimately unsuccessfully, to find a buyer to inject cash to expand the business. When the company gives its latest financial update this week, it will be telling a very different story: in the past 12 months its market value has more than tripled and a maiden profit is looming as Audioboom joins the ranks of the pandemic winners.
Digital entertainment services from Netflix to Spotify have been supercharged by lockdown viewing and listening, and Audioboom has been no exception. It now draws 25 million listeners a month with content from partners ranging from Formula One to the former Bake Off presenter Sue Perkins.
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