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LadBible owner LBG Media is considering further investment in the US after expansion in the country helped fuel a “transformational year” for the publisher.
LBG Media told investors that strong momentum from its US expansion helped boost management’s confidence in delivering 10 per cent revenue growth as the business targets £200m in annual billing.
The group’s global audience increased 19 percent to 503 million in 2024, including 143 million in the United States.
LBG Media, which also owns the UniLad and SportBible brands, delivered preliminary results that beat forecasts and said the new financial year had started strongly. .
For the nine months ending September 30, LBG Media reported total revenue of £86.2 million, representing a year-on-year increase of 22 per cent.
In charge: Solly Solomou is the CEO of LBG Media
Profits before Nasties rose 16 per cent to £24.5 million, reflecting growth in direct and online revenue and contribution from the October 2023 acquisition of US media brand Betches.
Direct revenue rose 39 per cent to £43.9 million, representing just over half of total turnover, while indirect revenue, which represents advertising shared with social platforms, rose 6 per cent to £40 .7 million. Other income, mainly licensing and events, rose 60 per cent to £1.6m.
The group ended the year with cash reserves of £27.2m.
On the company’s US expansion, he said: “Strong signs of early success with the acquisition of key clients such as Netflix, L’Oreal and White Castle and the alignment of commercial teams in the first half bearing fruit with a strong pipeline of projects”.
“The Board remains confident in the size of the opportunity ahead and may consider new investments to accelerate the U.S. growth strategy.”
CEO Solly Solomou added: “We are running more campaigns for more blue-chip brands, particularly in the US, the world’s largest advertising market. We have been able to drive this momentum for two reasons.
‘First, our acquisition of Betches has expanded our already strong reach among US social audiences and our combined business is performing well.
‘Secondly, LBG Media has a unique model. “More than 500 million people around the world, including Generation Z and Millennials, see us as the preferred destination for digital content.”
LBG Media Stock fell 0.21 per cent or 0.26 pence to 124.74 pence on Wednesday, having risen more than 55 per cent in the last year.
Fiona Orford-Williams, director of Edison Group, said: ‘LBG Media continues to impress with its progress.
“There has been particularly strong progress in its Direct business, where LBG Media works with brands to connect with young adults online and clearly meets a need not met through more traditional channels.”
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