Audioboom, a British podcast company supported by investor Nick Candy, has reported a significant increase in profits as it aims to expand further through acquisitions. The firm, listed on the AIM market, recorded a 30 percent rise in revenues during the first half of the year, reaching $45.7 million.
Pre-tax profits more than doubled compared to the same period last year, climbing to $3.1 million from $1.3 million. The company also announced that it had secured more than $81 million in sales for the current year.
Audioboom has pursued growth through strategic acquisitions, including last year’s purchase of Adelicious, a UK-based podcast platform. Adelicious’s portfolio features a range of popular shows, such as Russell Howard’s Five Brilliant Things and The Teen Commandments with Sara Cox and Clare Hamilton.
The company has committed to continuing this approach, targeting smaller rivals to boost its market presence and diversify its content offerings.
