Ladbible parent LBG Media grows revenue 81%

LBG Media CEO Solly Solomou

LBG Media plc, the Manchester-based digital media and youth content publisher of Ladbible and other news brands including Sportbible and Tyla, said its 2021 revenue soared 81% to £54.5 million and profit before tax jumped 98% to £8.1 million.

LBG Media joined the stock market in December at £1.75 per share, but the stock is now trading around £1.65.

The company said its global audience grew by 31 million people to over 264 million “with 63 billion content views per annum, up 97% on the prior year, following investment in people to increase volumes and drive more engaging content across various platforms.”

LBG chair Dave Wilson said in his outlook: “The £30 million of new capital raised (before expenses) in December 2021 will support the group’s growth strategy, which includes both an organic element — whereby the group is focused on expanding capabilities and growing within existing geographies — supplemented by future merger and acquisitions ‘M&A’ opportunities.

We have set ourselves ambitious goals for 2022 and beyond.

“Our highly experienced management team, differentiated proposition and ongoing engagement with hundreds of millions of social media followers worldwide places us in a strong position to meet these goals and objectives.

“I am confident that, with our dedication and effort, we will achieve them and more.”

LBG Media CEO Solly Solomou said: “I am delighted with the outstanding performance and significant growth that LBG Media has delivered during 2021, alongside our successful listing on the London Stock Exchange.

“The business has achieved a great deal and I want to thank each and every one of the team for their valuable contribution to its continuing success.

“Through ongoing investment in our teams, combined with our focused and relevant content, we have continued to see growth in our global audience and followers.

“Providing unmatched access to an audience that brands and organisations typically find hardest to reach makes us a particularly attractive partner to an ever increasing number of global businesses, government organisations and other entities.

“These factors position us well for the future and I am incredibly excited by the opportunities that lie ahead.”