Targetspot (formerly AudioValley) has published its activity for the first half of 2022. The Group’s revenue amounted to €14.7 million compared with €12.3 million a year earlier. It was up 19.1% on a reported basis compared with the same period last year. The Group says it also made significant progress in the international deployment of its technology, signing 12 new partnerships in the first half of the year; it 11 signed throughout 2021. These include a series of agreements with leading publishers serving the Latin American market.
The Targetspot division — which focuses on monetizing all digital audio channels, including podcasts, web radios and music platforms — accounted for 92% of total activity for the half-year, generating €13.6m, up 21.5%.
The Winamp division (including other activities such as the Jamendo musical catalog) generated €1.1m in the first half of 2022, down 4.2%. The Group announced on May 24 that it will dispose of this business, which it now considers non-strategic.
Tensions in the U.S.
In Europe, Targetspot’s growth remained robust throughout the first half of the year, coming out at +36.1%, thanks to a ramp-up in all digital audio media. In North America, first-half revenue rose by 13.1% on a reported basis and 1.2% in CER. Growth was hampered by the moderation in advertising investments in certain sectors, including the automotive industry, and by recruitment difficulties — particularly commercial profiles — linked to tensions in the United States labor market. The redeployment of Targetspot’s offer to new partners also temporarily weighed on the volume of business in the U.S.
Mario Cabanas, general manager at Targetspot, says, “Market dynamics remain excellent in digital audio, particularly in the podcast monetization segment, where our revenue has tripled compared to the first half of 2021. The Targetspot division posted a remarkable performance in Europe in the first half of the year. It began a second half of the year under good conditions in the United States, where the recent redeployment of our offer is expected to have its full effect.”
Alexandre Saboundjian, founder and chairman of Targetspot, says, “Our commercial successes confirm our strategy of refocusing on our core business. Our ambitions for Targetspot will be clarified as part of a new strategic plan to be presented on October 18, thus paving the way for a new profitable growth cycle.”