Audioboom hires two sales execs as ad inventory reaches record high

8th Apr 2024 13:29

(Sharecast News) - Podcast producer and distributor Audioboom said in an update on Monday that it had bolstered its revenue operations with the recruitment of two seasoned sales executives, as it reached a record high for advertising inventory.

The AIM-traded firm sid Molly Harvey, with extensive experience at SiriusXM and CBS Radio, would assume the role of vice-president of brand sales.

Joining her would be Shaun Wilson, who would bring his background from Spotify and Sony Entertainment to his position as vice president of UK sales.

Notably, Wilson previously served as Audioboom's UK head of sales.

The strategic hiring of Harvey and Wilson aimed to propel Audioboom's growth by expanding its roster of blue-chip clients.

The board said the initiative followed the successful establishment of the company's brand-focussed sales unit in 2023, which had already gained significant traction.

Notably, Audioboom said it had secured monetisation partnerships with eight of the top 15 major US advertising agencies.

Starting their roles in April, Harvey and Wilson would benefit from access to an unprecedented volume of advertising inventory through Audioboom's platform.

March saw Audioboom generate more than 1.1 billion available advertising impressions, surpassing the previously-announced record of one billion last October by 10%.

"Our network flywheel is generating record levels of advertising inventory and we are investing in our sales operation to ensure we extract maximum value from it," said chief executive officer Stuart Last.

"Molly and Shaun are highly skilled and experienced sales executives, and they will play a key part in the growth of Audioboom's monetisation engine."

Molly Harvey said she was "thrilled" to be joining Audioboom.

"I'm looking forward to leveraging my passion for podcasts and advertising to drive measurable results for our brand partners."

Shaun Wilson meanwhile commented that his return to Audioboom came at an opportune time in the podcast space.

"Brands are calling out for premium, creative, outside-the-box executions to really differentiate themselves to audiences."

At 1231 BST, shares in Audioboom Group were up 4.9% at 262.25p.

Reporting by Josh White for Sharecast.com.