Targetspot (formerly AudioValley) has published its financial statements for the first half of 2022 and unveiled its new three-year strategic plan, “Audio 2025,” which it says will step up its transformation to rank among the world’s leading digital audio technology companies.
Business Wire reports that according to unaudited consolidated financial statements approved by the Board of Directors on Oct. 17, at June 30, the Targetspot Group generated revenue of €14.5 million, compared with €12.3 million one year earlier, for growth of 17.6%. Growth amounted to 11.7% at constant exchange rates.
The Targetspot division accounted for 92% of total sales in the first half of the year. This division, responsible for monetizing all digital audio channels, posted revenue of €13.6 million, up 19.8% (+13.3% at CER). Furthermore, the division grew in all geographical regions, with Europe in the lead (+36.1%) and momentum remaining strong in North America (+11.1%).
The Group also announced a three-year strategic plan that, it says, will enable it to deliver strong performance in both growth and profitability over the long term.
The three-year strategic plan
Called Audio 2025, the plan has five priority focuses:
- Accelerate in all aspects of digital audio. Initially limited to the monetization of radio audiences, Targetspot says its market is expanding in several extremely promising territories where the group will continue to harness its advantage by adapting its technological platform and establishing partnerships with leading players, as seen recently in mobile games with Gadsme.
- Unite all resources for a single activity. To develop, Targetspot says it needs to concentrate all its resources and investments on a single core business. As announced last May, the group intends to sell its subsidiary Winamp to refocus on the growing and profitable Targetspot division.
- Develop international positions. Already boasting a strong presence in North America (two-thirds of its revenues) and Europe, the group intends to accelerate internationally to reinforce its advantage among major advertisers with global inventories. The group initiated this acceleration this summer in Latin America through several local partnerships.
- Innovate to extend its market lead. The group will focus R&D priorities on programmatic advertising and targeting capabilities.
- Optimize the organization structure. The group says it has already strengthened its management team in all essential functions, such as general management and marketing. A further priority of the Audio 2025 plan is to develop the Targetspot culture and promote the company’s talents.