LadBible owner reports sales growth as global audience surpasses 440m
Manchester-based LBG Media said it was performing well in the UK and Ireland despite profits dragging in Australia.
The media group which owns digital publisher LadBible has revealed it is expecting a jump in sales and earnings over 2023 after building its audience and advertisers.
Manchester-based LBG Media, which also owns brands SportBible, Tyla and UniLad, said it was performing well in the UK and Ireland despite profits dragging in Australia.
Social media followers across its brands have surged to more than 440 million, up from 410 million in June, the group revealed.
The youth publisher said it expects to report revenue growth from nearly £63 million last year to about £67 million this year.
The London-listed group spans social media platforms including Facebook, Instagram, X and TikTok with a predominantly young audience of 18 to 34-year-olds.
The term “lad” is described as an “everyday hero” and gender neutral term by the company, with women making up about 40% of its audience.
In October, LBG announced it had bought Betches, a female-founded publisher in the US which focuses on millennial and Gen Z women.
Mr Solomou said the acquisition marked an “exciting milestone” for the group which has taken steps to move away from a male-focused image.
Meanwhile, adjusted earnings are set to have grown by about 8% from £15.7 million in 2022 to at least £17 million in 2023.
However, the forecast is lower than previously expected thanks to a £3 million hit from its Australian arm, which the group said it wants to focus on making more efficient in the new year.
Stripping out the impact of Australia, year-on-year underlying adjusted earnings are set to have surged by 30%, LBG said.
Direct blue-chip advertiser relationships have grown “significantly” during the year, LBG said, with the publisher producing campaigns with global brands including McDonalds, Google and Disney.
The UEFA Euro 2024 football tournament and the Olympics are set to be key advertising opportunities for the publisher, it said.
Nevertheless, shares in LBG dipped by more than 5% following the update on its Australian operations.
