The owner of LadBible, LBG Media, is considering further investment into the US after expansion into the country helped drive a ‘transformational year’ for the publisher.
LBG Media told investors that strong momentum from its US expansion helped boost management’s confidence in achieving 10 per cent top-line growth as the business targets £200million in annual turnover.
The group’s global audience surged by 19 per cent to 503million in 2024, including 143million in the US.
LBG Media, which also owns the UniLad and SportBible brands, delivered forecast-beating preliminary results and said the new financial year had begun strongly. .
For the nine months ending 30 September, LBG Media reported total revenue of £86.2million, representing a 22 per cent year-on-year increase.
Earnings before nasties jumped 16 per cent to £24.5million, reflecting growth in direct and online revenues and the contribution from the October 2023 acquisition of US-based media brand Betches.
Direct revenue increased by 39 per cent to £43.9million, accounting for just over half of total turnover, while Indirect revenues, representing advertising shared with social platforms, rose by 6 per cent to £40.7million. Other revenue, primarily licensing and events, jumped 60 per cent to £1.6million.
The group ended the year with cash reserves of £27.2million.
On the firm’s US expansion, it said: ‘Strong signs of early success with key client wins such as Netflix, L’Oreal and White Castle and alignment of commercial teams in H1 bearing fruit with a strong pipeline.
‘The Board remains confident in the size of the opportunity ahead and may consider further investment to accelerate the US growth strategy.’
Chief executive Solly Solomou, added: ‘We are running more campaigns for more blue-chip brands, particularly in the US, the largest advertising market in the world. We have been able to drive this momentum for two reasons.
‘Firstly, our acquisition of Betches has extended our already-strong reach with US social audiences and our combined business is performing well.
‘Secondly, LBG Media has a unique model. More than half a billion people globally, including Gen Z and Millennials, see us as the go-to destination for digital content.’
LBG Media shares slipped 0.21 per cent or 0.26p to 124.74p on Wednesday, having risen over 55 per cent in the last year.
Fiona Orford-Williams, a director at Edison Group, said: ‘LBG Media continues to impress with its progress.
‘There was particularly strong progress in its Direct business, where LBG Media works with brands to connect with young adults online and clearly fulfils a need not met through more traditional channels.’
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