Head of Audioboom: Nick Candy, pictured with his wife Holly Valance
Shares in a podcast publisher backed by property magnate Nick Candy have plummeted after racking up another year of losses.
Audioboom, which offers podcasts ranging from sports to true crime, said losses rose to £13.4 million in 2023 from £343,000 in 2022. Revenue fell 13 per cent to £52 million.
Shares fell 10.7 per cent, or 32.5 pence, to 270 pence, wiping £785,000 off the 14.75 per cent stake held by Candy, 51. The drop came even as Audioboom revealed that business had recovered since early 2024.
Revenue rose 11 per cent in the first quarter to £13.7 million after a 5 per cent rise in the final quarter of 2023.
And revenue of £5.4 million in March was the highest monthly take since May 2022.
Audioboom podcasts were downloaded 110 million times a month in the first quarter, while January saw a record 38.6 million listeners tune in.
His network’s podcasts include Casefile True Crime, The Cycling Podcast, The Tim Dillon Show, and No Such Thing as a Fish.