- audioBoom is a global podcasting platform which consolidates the business of on-demand audio
- More than 3,500 of the world’s biggest broadcasters use audioBoom to host or re-distribute their digital audio
- 6 of iTunes’ top 10 podcasts in 2016 were audioBoom produced
- Podcast market is growing rapidly at expense of traditional, linear radio
11 April 2017, London: Edge Investments (‘Edge’), the specialist investment house focused on the creative industries sector, in particular media and entertainment, has backed audioBoom (“the Company”) the leading spoken word audio platform for hosting, distributing and monetising content.
Based in London, and with additional offices in Melbourne, Mumbai and New York City, audioBoom works with more than 3,000 active broadcasters, content creators and podcasters around the world ‐ including Cumulus, the BBC, NewsCorp, Associated Press, NBC Sports Radio, Undisclosed and Global ‐ hosting more than 10,000 content channels.
The platform receives over 50 million listens per month and allows partners to share their content via iTunes, iHeartRadio, Google Play, Spotify, Stitcher, Facebook and Twitter as well as their own websites and mobile apps. 70% of listens are in USA, with 11% UK, 5% Australia, and 14% around the rest of the world.
Edge will invest £500,000 in audioBoom via the Edge Performance VCT, which invests in the buoyant creative industries sector and the technologies which enable it.
The Company was identified by Edge Investment Director Steve Carle and his team for its significant growth prospects and market-leading position. The investment in audioBoom follows the recent backing (December 2016) by Edge Investments of disruptive video marketplace platform Newsflare. Newsflare was the first investment from the Edge Creative Enterprise Fund, the £40 million fund that was launched in November 2015, with the backing of the British Business Bank, to boost Britain’s creative industries.
Edge Investment Director Steve Carle commented:
“We see fantastic growth potential in audioBoom. Digital audio networks in the US and Europe are signing up big name advertisers and publishers eager to reach engaged listeners on mobile devices: the global podcast market is set for continued rapid growth.
“audioBoom, led by Rob Proctor and his team, is perfectly positioned in the vanguard of this rapidly evolving market. Edge Investments looks forward to supporting this huge growth potential, drawing on our considerable experience of backing leading, creative enterprises.”
Edge Investments is one of the UK’s most dynamic and innovative specialist investors in the creative industries. Since its launch in 2006 it has raised approaching £200m. Its previous investments have included live events featuring Jennifer Lopez, Eric Clapton, Leonard Cohen, the Rolling Stones; children’s entertainment (The Clangers, Beast Quest, Poppy Cat), native in-video advertising (Mirriad) and games analytics (deltaDNA).
Core to Edge’s approach is its experienced team of creative industries and investment professionals. Its investment team includes Edge Investments’ CEO and renowned industry deal-maker David Glick, experienced VC technology and creative industries investor David Fisher, private equity veteran Steve Carle, Joanna Smith, formerly Corporate Development manager at Channel 4’s Indie Growth Fund, Gordon Power, former CEO of ProVen, Charles Miller Smith, former Unilever director, CEO and chairman of ICI and Harvey Goldsmith, one of the UK’s best known music industry impresarios.
Individually and collectively, the Edge team has been investing in venture capital since 1984 across 11 separate funds and has achieved a combined venture capital IRR in excess of 30%.
audioBoom is the leading spoken-word audio platform for hosting, distributing and monetising content.
audioBoom works with more than 3,000 active broadcasters, content creators and podcasters around the world ‐ including Cumulus, the BBC, NewsCorp, Associated Press, NBC Sports Radio, Undisclosed and Global ‐ hosting more than 10,000 content channels.
audioBoom’s hosting and distribution platform allows partners to embed, share via social channels and re-syndicate their content. Additionally, audioBoom works with its partners to monetise their audio via live in‐reads, the dynamic insertion of pre and post roll audio adverts, and video ads.
audioBoom listed on the London Stock Exchange AIM market in 2014 as audioBoom Group Limited (AIM: BOOM).