LadBible owner reaches record audience of nearly 500m amid revenue growth
UK-founded LBG Media said it is gaining market share in the US, with 141 million of its audience members coming from the country.
The owner of LadBible said it has brought in a record number of readers, viewers and listeners in the first half of 2024, with its content reaching 494 million people.
LBG Media, which also owns the UniLad and SportBible brands, said it swung to a profit of £7.1 million over the period, up from a £1.2 million loss last year, while revenue grew 29% to £42.3 million.
The company said it has built market share in the US, with 141 million of its audience members coming from the country.
Solly Solomou, chief executive of LBG Group, said the company is “going from strength to strength” in the US.
Part of that was by buying female-focused digital media group Betches Media for 24 million dollars (£18.19 million) last year.
“In the complex digital media landscape, the detailed understanding we have of our audience and our propensity to be agile in such a dynamic market provide a strong foundation for long-term growth and the delivery of shareholder value,” Mr Solomou added.
LBG Media’s fast growth comes against a backdrop of other global media companies struggling, amid falls in advertising revenue and social media eroding readership in recent years.
Mr Solomou cited “key sporting event activations” as a key driver of the company’s growth in audience, saying the group focused strongly on the recent Euro 2024 football tournament.
Meanwhile, he added that the company’s campaigns, such as work to encourage young people to vote, and another to stop the practise of drink spiking, continued to gain momentum.
LBG Media said it is eventually aiming to hit £200 million in revenue, while it remains on course to hit profit targets for the 2024 calendar year.
