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Digital audio solutions provider AudioValley published its revenue for the first half of 2021.
Revenue for the first half of 2021 shows 49.7% growth (at constant exchange rates), totaling €12.3M, compared to that for the first half of 2020 (€8.5M), the company reported.
Based in Brussels, AudioValley is home to several brands: Targetspot for the monetization of digital audio content, Jamendo for music sales and music rights management, Shoutcast for streaming technologies and podcast management and Winamp, the iconic audio player.
“Even though COVID-19 is still having a negative impact on some European countries, we are convinced that this is a real recovery and not just a catch-up up for 2020 because in advertising, budgets canceled by advertisers are not necessarily postponed,” said CFO Sébastien Veldeman.
Growth was mainly driven by Targetspot, which accounted for 91% of the AudioValley group’s business, said AudioValley. Its half-year revenue was €11.2M, up 56.3% at constant exchange rates compared with H1 2020.
The company noted that the growth was driven by the United States, where revenue is up 72% compared with H1 2020. The division’s European business also performed well, with growth of 27.5% compared with H1 2020.
Meanwhile, the Jamendo division, still greatly impacted by the crisis in Q1, recovered in Q2 to end the first half of the year with 5.1% growth, compared with H1 2020, at €1.2M.
“It is clear that the partnerships signed in 2020 with publishers are now producing results,” said CEO Alexandre Saboundjian.
Saboundjian added that the company plans to transform Jamendo into a full-service company for artists, including rights management, with the aim to finalize by the end of the year.