14 June 2018
Audioboom Group plc
("Audioboom" or the "Company")
Spotify update and integration of API
Successful Partnership generates 10% increase in inventory listens from using just 1% of Audioboom's content over a 12-month period
Audioboom (AIM: BOOM), the leading spoken word audio on-demand platform, announces a review of the first year of its strategic partnership with Spotify Technology SA ('Spotify'; NYSE: SPOT).
Audioboom's listens and live read ad inventory increased over the twelve-month period to 31 May 2018 by approximately 10%, following the successful implementation of a strategic partnership with Spotify. The increase can be attributed to just 1% of Audioboom's content being available on the Spotify platform. The next stage of the Company's partnership with Spotify will make all Audioboom content available through an automated API. As a result, Spotify is now established as the Company's second biggest distribution platform after Apple Podcasts, with Audioboom's on-demand podcasts, such as "Mafia" and "Drink Champs", now featured on the Spotify platform across multiple content categories.
Importantly, the ability to deliver advertising inside the Spotify platform should result in increased revenue for Audioboom as more listeners are onboarded. Audioboom retains 100% of the revenues derived from in-read advertising consumed on the Spotify platform, which should lead to increased revenues for both Audioboom and its podcasters.
Increased listens and advertising revenues as a result of partnerships are a key part of the Company's future growth strategy, which involves utilising third-party relationships and technology platforms to widen reach and the ability to grow additional revenue streams.
The agreement with Spotify also encompasses a revenue sharing component, whereby Spotify will share revenues derived from any pre and post roll advertising delivered programmatically by Spotify.
API platform integration into Spotify
To date, Audioboom has been manually uploading less than 1% of its total podcast library to the Spotify platform. As indicated in the Company's announcement of 8 June 2018, Audioboom and Spotify have now integrated their services, via an application programming interface (API), which will facilitate the availability of 100% of Audioboom's content library to Spotify users via a simplified and streamlined upload engine. As a result, Audioboom podcast partners can now submit their shows directly to Spotify, at the click of a button.
Audioboom's podcast partners will also benefit from more comprehensive analytics for podcasts hosted on AudioBoom, with 100% of Spotify's consumption data now integrated into Audioboom's comprehensive analytics dashboard.
Rob Proctor, CEO of Audioboom, said: "Spotify is the global leader in music streaming and the commercial success of this relationship shows the strength of the Audioboom platform and the quality of the content that we are now creating under the Audioboom Original's brand. The growth in inventory listens is increasing our ability to generate revenues, which will be significantly enhanced with the integration of our API into their platform, allowing Spotify users to access all of Audioboom's content."
Enquiries
Audioboom Group plc |
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Rob Proctor, Chief Executive Officer |
Tel: +44(0)20 7403 6688 |
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Allenby Capital Limited (Nominated adviser and broker) |
Tel: +44(0)20 3328 5656 |
David Hart /Alex Brearley/Asha Chotai |
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Walbrook PR Limited (PR & IR Advisers) |
Tel: +44(0)20 7933 8780 |
Paul Cornelius / Sam Allen |
or [email protected] |
About Audioboom
Audioboom is a global podcasting platform that consolidates the business of on-demand audio, making content accessible, wide-reaching and profitable for podcasters, advertisers and brands. Audioboom operates internationally, with operations across North America, Europe, Asia and Australia, and addresses the issue of disparate podcast services by putting all of the pieces of the puzzle together under one umbrella, creating a user-friendly, economical experience.
Audioboom hosts over 12,000 content channels, with key content partners including A+E Networks (US), Associated Press (US), The BBC (UK), "Casefile True Crime" (AUS), CastBox Originals (US), Edith Bowman (UK), "Felon True Crime Podcast" (AUS), "Moneycontrol Podcast" (India), "News Roast" (UK), "No Such Thing As A Fish" (UK), "Pound for Pound with Jake Wood and Spencer Oliver" (UK), "Red FM" (India), Starburns Audio (US), "The Totally Football Show" (UK), "The True Geordie Podcast" (UK) and "Undisclosed" (US).
Original content produced by Audioboom includes "The 45th" (US), "Covert" (US), "I Almost Knew That" (India), "The Psychology Behind with Dr Linda Papadopoulos" (UK), "Ctrl Alt Win Podcast" (India), "Deliberations" (US), "It's Happening with Snooki & Joey" (US), "Mafia" (US), "Mission To Zyxx" (US), "Night Call" (US) and "The Russell Brand Podcast" (UK).
The platform receives over 60 million listens per month and allows partners to share their content via Apple Podcasts, BookMyShow, Deezer, Google Play, iHeartRadio, Saavn, Spotify, Stitcher, Facebook and Twitter as well as their own websites and mobile apps.
For more information, visit audioboom.com.
