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Podcast company Audioboom upgraded profit outlook as strong momentum continued into the fourth quarter, driven by higher advertiser demand.
The company said it now expects that Audioboom wold generate 'significantly' increased adjusted EBITDA - earnings before interest, tax, depreciation, amortisation, share based payments, non-cash foreign exchange movements and material one-off items - and marginally improved revenue, ahead of current market expectations.
Commenting on some of the key drivers of success during Q4, the company highlighted high advertiser demand for premium content, strong audience growth globally and, following the November launch of SHOWCASE, increased revenue from ad tech via our global marketplace.
The company said it expects to provide a full 2021 year-end trading update on 19 January 2022, ahead of audited results for the year in March 2022.