Nick Candy is hit by slump at podcast publisher Audioboom

Audioboom backer: Nick Candy, pictured with wife Holly Valance

Shares in a podcast publisher backed by property tycoon Nick Candy tumbled after it racked up another year of losses.

Audioboom, which offers podcasts ranging from sport to true crime, said losses widened to £13.4million in 2023 from £343,000 in 2022. Revenues fell 13 per cent to £52million.

Shares fell 10.7 per cent, or 32.5p, to 270p – wiping £785,000 off the 14.75 per cent stake held by Candy, 51. The slump came even as Audioboom revealed that business had picked up since the start of 2024. 

Revenues rose 11 per cent in the first quarter to £13.7million following a 5 per cent rise in the final quarter of 2023.

And revenues of £5.4million in March were the highest monthly take since May 2022.

Audioboom’s podcasts were downloaded 110m times a month in the first quarter, while January saw a record 38.6m listeners tune in.

Podcasts on its network include Casefile True Crime, The Cycling Podcast, The Tim Dillon Show and No Such Thing as a Fish.