Excellent 2021 annual results for the Targetspot division. And strong investment in the Winamp division
- Dramatic improvement in Targetspot’s EBITDA at €2m
- Group revenue up 44.5%
- Investments in the new Winamp division
- Strong growth in the first quarter of 2022
AudioValley, an international specialist in B2B solutions in digital audio, (ISIN code: BE0974334667 / mnemonic: ALAVY) has published its annual results for the 2021 financial year and its revenue for the first quarter of 2022.
Alexandre Saboundjian, CEO: “2021 was an extremely busy and fruitful year. On the one hand, we can be pleased with remarkable growth in our revenue (up 44.5%), which reached €28.3 million thanks to the performance of our Targetspot division in the United States and Europe. Specializing in digital audio advertising, this business is benefiting from the growing adoption of digital audio advertising by not only advertisers but also content publishers. The combination of our technological solutions and our international presence also allows us to successfully position ourselves in new segments in buoyant markets such as podcasts and music platforms. We are also striving to position ourselves in mobile gaming, which will already see convincing results in 2022. Our Targetspot business recorded EBITDA of €2 million, or 7.6% of our revenue. Our revenue growth in 2022 will also enable us to improve this ratio.
On the other hand, we devoted 2021 to revamping our other activities and our strategy. Our new Winamp division aims to offer a range of income-management services to artists. It encompasses the activities of Bridger, our new copyright management subsidiary, Jamendo, which sells musical works, and Winamp, our iconic audio player. Developing this new driver of growth requires substantial investment since the end of the second quarter of 2021, which have weighed on our current operating income before depreciation and amortization, which is now slightly negative. As these investments are expected to continue, we are currently looking into financing options to support our ambitious business plan.”