PodcastOne Delivers Record Programmatic Revenue In Company History In Q2 Fiscal Year 2024
Portfolio Pulse from Benzinga Newsdesk
PodcastOne (NASDAQ:PODC), a subsidiary of LiveOne (NASDAQ:LVO), reported a record 121% growth in programmatic revenue for Q2 Fiscal Year 2024 over the same period last year. The company also saw a 24% increase in average programmatic CPM, marking a company high. With over 229 million programmatic impressions, an increase of 79% from the previous year, PodcastOne is capitalizing on the trend of programmatic advertising in podcasting. The company's success is attributed to its premium podcast inventory and effective programmatic partnerships.
November 30, 2023 | 1:53 pm
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POSITIVE IMPACT
LiveOne, owning approximately 80% of PodcastOne, stands to benefit from PODC's record programmatic revenue growth, indicating a positive impact on LVO's financials.
As the majority owner of PodcastOne, LiveOne is likely to experience a positive impact on its financials due to PODC's strong performance. This could lead to increased investor interest in LVO and a potential uptick in its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
PodcastOne's record programmatic revenue and CPM growth in Q2 FY2024 indicate strong performance and potential for continued growth in the podcast advertising space.
The significant growth in programmatic revenue and CPM for PodcastOne suggests a positive outlook for the company's financial performance, which could lead to an increase in investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100