Audioboom, a podcast company majority-owned by billionaire investor Nick Candy through his vehicle Candy Ventures, has raised its profit forecast following a strong third quarter performance. The London-based firm reported revenue of $23.8 million for the three months ending September 30, marking a 17 percent increase compared with the same period last year. Gross profit grew by 30 percent to $5.6 million, up from $4.3 million, enabling the company to increase its full-year adjusted earnings projection to $7.7 million.
Founded in 2009, Audioboom has benefited from steady expansion in the podcasting industry, reaching 58 million unique monthly listeners with a diverse range of content spanning comedy, sports, and current affairs. Its flagship programs include The Probski Report, Let’s Not Meet, and the official Formula 1 podcast series. The company’s growth accelerated sharply during the COVID-19 pandemic, with share prices surging more than tenfold between March 2020 and 2022. Although stock prices and audience numbers have moderated since their peak, the podcast sector continues to demonstrate robust long-term growth. According to Ofcom data, over 25 percent of UK adults now listen to at least one podcast weekly, up from just 7 percent in 2016.
In October 2025, Audioboom signaled an intent to explore a sale to capitalise on its rising profile. However, the company removed itself from the market in June after receiving three bids it deemed insufficiently valued. The following month, an activist investor renewed pressure on the board to restart the sales process. Laurence Hulse, investment manager at Dowgate Wealth and the company’s second-largest shareholder, argued that Audioboom needed greater scale to compete effectively with larger rivals. “It’s just not credible that they’re ever going to take on those guys — it probably makes sense to become part of something else,” Hulse said.
Despite this external push for a sale, Audioboom’s management has shifted focus toward growth through mergers and acquisitions. CEO Stuart Last highlighted the group’s strategic plans to consolidate within the podcast industry, noting that the company recently secured an additional $10 million debt facility, supplementing its existing cash reserves of $6.7 million. “We have the financial firepower and flexibility to lead the inevitable consolidation within the podcast industry,” Last said, emphasizing the objective to complete three to four significant transactions over the medium term.
The wider podcasting landscape also reflects significant profitability and expansion, with competitors such as Gary Lineker’s Goalhanger experiencing a 321 percent earnings increase over three years and ranking first in an annual list of Britain’s fastest-growing private companies. As audience engagement continues to rise domestically and internationally, Audioboom aims to leverage its position to remain competitive in an increasingly crowded market.