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B2B digital audio solutions specialist AudioValley has published its results for the first half of 2021 and its turnover for the third quarter of 2021.
Turnover for the first half of 2021 shows a level of growth of 50% (at constant exchange rates) compared to the first half of 2020, amounting to €12.3 million (vs. €8.5 million in 2020). This reflects the strong recovery felt in the Targetspot audio content monetization division from the beginning of the year despite the ongoing negative impact of COVID-19 on certain European countries.
Targetspot, which accounts for 91% of the AudioValley Group’s business, achieved half-year revenues of €11.2 million, up 56.3%, at cer on H1 2020, thanks to a large degree to several months of record growth in Q2 in the United States. Advertiser spend budgets resulted in excellent half-year revenues in the U.S., up 72% at cer compared to H1 2020. According to AudioValley, this is a clear signal of the accelerating trend towards digital audio in advertising spend.
The division’s European business also performed very well, with growth of 27.5% compared to H1 2020.
It seems Jamendo, the music licensing and rights management business, was still feeling the impact of the pandemic heavily in Q1; however, it recovered strongly in Q2 to end the half year up 5.1% on H1 2020, at €1.2 million.