AudioValley releases annual results for Targetspot

AudioValley has published its annual results for the 2021 financial year and its revenue for the first quarter of 2022. According to CEO Alexandre Saboundjian, 2021 was “an extremely busy and fruitful year,” and revenue reached €28.3 million 

According to AudioValley’s results, for the full year, Group revenue reached €28.3 million (against €19.5 million in 2020), up 48.2% at constant exchange rates compared with 2020, thanks to the performance of its Targetspot division in the United States and Europe. The Targetspot division (which accounts for 92% of Group revenue) reported revenue growth of 50%.

Saboundjian pointed to the division’s focus as key to its success: “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. He added that the company is striving to position itself in mobile gaming and expects to see “convincing results” in 2022.

According to the results, AudioValley devoted 2021 to revamping its other activities and its 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,” said Saboundjian. “Developing this new driver of growth requires substantial investment since the end of the second quarter of 2021, which has 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.”