StockMarketWire.com - Audioboom reports significant progress in terms of revenue generation and direct cost management in the first quarter.

The group said total available ad impressions grew from 128.6 million in the fourth quarter of 2016 to 304.2 million in the first quarter of this year, an increase of 136%.

Audioboom created 57.5 million advertising impressions in Q1 2016, representing year-on-year growth of 429%.

The group said that as stated previously it has adopted the IAB standard of unique file requests (UFRs) to replace its 'listens' metric.

Audioboom's Q1 2017 UFRs were 149 million (a quarterly record), compared to 145 million in Q4 2016.

UFRs for Q1 2016 were 45 million, a year-on-year rise of 231%.

It also said that Q1 2017 revenues will exceed those of Q4 2016 (£630,000), providing another quarterly record.

Chief executive Rob Proctor said: "Q1 2017 has seen us make significant progress both in terms of revenue generation and direct cost management.

"We continue to enjoy significant growth in all of our KPIs, setting records across the board, despite Q1 being a shorter period and the holidays disrupting content creation.

"The last six months has seen a significant swing in UK media agency attitudes towards trying and buying podcast advertising, which when combined with the growth in our US media operations means that the Company is well set to hit our ambitious 2017 targets."


At 9:59am: [LON:BOOM] Audioboom Group share price was +0.38p at 3.13p



Story provided by StockMarketWire.com