Acast Posts 100% Revenue Growth in 2019 to $38 Million

RADIO ONLINE | Thursday, April 2, 2020

Acast

Acast, a global podcast producer, posted 100% revenue grow from $19 million in 2018 to $38 million in 2019 with a gross margin improving from 34% to 36%. The contribution from all core markets was instrumental to Acast's growth as the Americas grew by 148% and European operations by 91%. Additionally, Acast increased the number of shows on its network in 2019 -- reaching more than 10,000 shows globally with 1.9 billion listens for the year across 195 countries.

CEO Ross Adams said, "2019 was a tremendous year for Acast. We've firmly cemented our position as the world's most significant podcast company in every sense - listens, creators and revenue. It's with pride that we're able to share our annual financial results showing the effects of securing significant investment in 2018 and, more broadly speaking, how the company has grown."

He added, "We're looking forward to continued success, recently launching in our first Spanish-speaking country, Mexico, and continuing to develop our tech and our output in 2020. It's with a great deal of hard work, determination and passion for podcasting - and with considerable thanks to our incredible employees worldwide - that we have in essence doubled our revenue every year since we started trading."

During 2019 Acast was chosen by CBC (Canada), PBS NewsHour (USA) and EARIOS network (USA) as the official commercial partner for their podcasts. A new content development arm (Acast Studios) was also launched with its first show, "The Score: Bank Robber Diaries," already garnering 1.25 million listens globally.