Acast podcast ad sales up 130%

Chris Pash
By Chris Pash | 20 August 2021
Credit: Juja Han

Global podcast platform Acast reported a 130% lift in net sales in the June quarter.

The swedish company, now listed on Nasdaq Nordic, says the number of shows on the Acast platform reached 31,000 and listens hit 880 million. 

CEO Ross Adams says the results reflect the company's strong value proposition to podcasters and advertisers, and taking market share in an already fast-growing industry.

The IPO strengthened the company's balance sheet with 1.2 billion Swedish krona in proceeds from new shares. 

Adams: "The capital raised as part of the listing will help us in our quest to build, champion and supercharge a thriving, profitable, fair and sustainable open ecosystem for the world’s podcasts, and to empower the creator economy.

"We’ll do this through both organic and strategic growth initiatives. The proceeds have also contributed to repaying a loan to the European Investment Bank and whilst the repayment presents as a financial cost it has not had any significant impact on equity since draw-down."

 acast sales growth q2 2021

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