Podcast revenue company Acast saw a strong 2024 second quarter according to its latest earnings report, with steady growth despite a drop in listening.
According to Acast, the company saw a 24% increase in net sales during April, May, and June. The company — based in Sweden — said North American sales were up 26% while European sales were up 25%. The sales growth comes as overall podcast revenue grew by 5% in 2023 to just under $2 billion.
“Our sales development remained steady with a healthy pace in both North America and Europe during the second quarter,” said Acast CEO Ross Adams. “Supported by a solid gross margin, we took another stride towards achieving our goal of EBITDA profitability in full-year 2024.”
In total, for the second quarter, the company saw $386.3 million in sales.
The sales growth comes in the face of 15% listening drops for the company, which it attributes to changes in the measurement practices of Apple after it launched a new operating system during the quarter. In the update, Apple limits the automatic downloads much to the delight of advertisers who were concerned about the engagement levels of its commercial spending.
