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Audioboom signs three new exclusive commercial agreements
AIM-listed Audioboom has signed three exclusive commercial agreements with "leading" international ad sales networks in Canada, Australia, New Zealand and the UK, that will "significantly" expand its global reach and revenue generating opportunities.
The first is with The Podcast Exchange (TPX) and focuses on the Canadian region. It makes Audioboom the first podcast platform to partner with this network. Launched in February 2018, TPX, which does not make or sell its own content, combines research-driven strategy, advanced metrics, sales expertise and geo-targeting, providing advertisers with better monetisation opportunities within the Canadian podcast audience.
The second agreement targets the Australian and New Zealand markets through Placard Media. Placard is a dedicated agency that connects advertisers from these territories with engaged podcast listeners. The agreement gives Placard the exclusive right to sell "Host Endorsements" and "Live Reads" on Audioboom's podcast inventory to advertising agencies within Australia and New Zealand.
Finally, the third agreement is with DAX, which is "the world's largest, most advanced programmatic advertising platform", available in the UK, US, France and Germany and is Global Radio's premium digital audio advertising service.
DAX gives advertisers access to an audience of 160m people across premium audio publishers including the Capital, Heart and Radio X radio stations, as well as platforms like SoundCloud, TuneIn and Audioboom.
Chief executive officer Rob Proctor said: "These worldwide agreements with leading networks and media sales agencies will extend the reach and commercialisation of Audioboom podcasts through programmatic and in-read advertising, and further increases our revenue generating capabilities."
At 1115 BST, the shares were down 5% to 2.26p.