Audioboom sets new subscriber record

Audioboom, the digital media company that distributes audio content for companies including the BBC and Reuters, said it added a record number of new users last month after launching a new mobile app and striking an exclusive deal with actor and comedian Russell Brand.

The Aim-listed company, which has a market capitalisation of £40m, said on Monday that it signed up more than 200,000 new registered users in March, taking its total user base to more than 3.6m.

The money-losing company has not started generating significant revenues, but it said it was making progress towards "monetisation".

"A significant number of companies have now signed up to advertising campaigns associated with Audioboom content" including McDonald's, Burger King, Walmart and Progressive Insurance, the company said.

Audioboom has been attempting to convince content producers to upload content to its platform on an exclusive basis. In February the company did a deal with Mr Brand to produce a 45-minute podcast every Wednesday and Sunday.

The company said that had more than 2,400 active content partners by the end of March - an increase of more than 150 during the month. Recent additions include BBC Radio 4's Six O'Clock News and the Wimbledon Tennis Championships.

Rob Proctor, Audioboom chief executive, said the figures "show the progress we have made in a short period of time, with March being comfortably our best month since launch".

© The Financial Times Limited 2015. All rights reserved.
FT and Financial Times are trademarks of the Financial Times Ltd.
Not to be redistributed, copied or modified in any way.
Euro2day.gr is solely responsible for providing this translation and the Financial Times Limited does not accept any liability for the accuracy or quality of the translation