- Audioboom's total revenue increased by £1.1m to £1.3m in the year to the end of November.

Adjusted losses before interest, tax, depreciation and amortisation fell to £4.6m from £5.7m.

The group said the number of unique users had increased by over 100% from 29.1m in November 2015 to 58.6m in November 2016.

Total available advertising impressions grew to a total of 242m in 2016, up from 44m in 2015, an increase of 450%.

Chief executive Rob Proctor said: "Over 75 million people listened to a 'Boom' last month, showing that we are building a digital media platform that continues to grow at a tremendous rate.

"We now have a global user base to generate revenue from the fastest growing sector of digital media - dedicated to the spoken word.

"The podcasting industry is growing rapidly and Audioboom is well positioned to take advantage of this development, matching targeted advertising to audiences and creating engagement metrics far superior to traditional methods.

"These engagement metrics have already caught the attention of media agencies and brands which will drive our future growth.

"Revenue generation has exceeded expectations for the year and we have invested in extra headcount to accelerate financial growth in 2017 with a strengthened balance sheet from the recent fundraising.

"The KPIs during the period broke all year-on-year records and I look forward to announcing Q2 2017 KPI's in early June, which we expect to reflect the continued, accelerated progress we are making in this exciting market."

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