LBG Media, the owner of viral publishing business LADbible Group, has said it is “confident” of growth in 2025 after what CEO Solly Solomou described as a “transformational” 2024.
In its unaudited results for the 12 months to September 30, 2024, the company reported total group revenue of £86.2m, up 22 per cent from £70.9m in 2023.
Pre-tax profit increased 32 per cent to £14.5m from £11m the previous year. Adjusted EBITDA also rose 16 per cent to £24.5m from £21.1m during the period.
Solomou said: “2024 was a transformational year for LBG Media. We are running more campaigns for more blue-chip brands, particularly in the U.S., 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 U.S. 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. The biggest brands and the biggest celebrities therefore want to partner with us to access the growing buying power and influence of this hard-to-reach demographic.”
The group’s sites were also spurred by a strong England performance at the Euros in summer 2024, logging 55% organic revenue growth in H1 2024, including the Betches acquisition.
He added: “The strength of our model, our progress in the U.S., and our fantastic team, explain why our results are ahead of calendar year expectations and give us confidence of further progress in 2025.”
Looking ahead, Manchester-based LBG said it would build on a robust first quarter that achieved double-digit growth compared to the same period last year, and predicted more of the same for the rest of the year: “Management is confident in the growth trajectory for the remainder of FY25 and expects revenue to increase by approximately 10%,” the firm told investors.
