Ladbible owner targets further US growth after ‘transformational’ year
LBG Media, which also owns the UniLad and Sportbible brands, has expanded rapidly across the globe since its inception in 2012.
The owner of Ladbible is plotting more rapid expansion in the US, after hailing a “transformational year” for the company surging into the American market.
LBG Media, which also owns the UniLad and Sportbible brands, said it is considering “further investment” to speed up its US expansion plan.
Founded just 13 years ago as a media outlet focusing mainly on young men, LBG Media has grown rapidly in recent years and now has more than 500 employees across offices in Manchester, London, New York and Melbourne.
It listed on the London Stock Exchange in 2021, and its commercial success comes against a backdrop of job losses and cutbacks at other British media groups over the last decade.
Many other media outlets have suffered falls in advertising revenue, while the influence of social platforms has eroded readership in recent years.
But LBG Media said its global audience surged to a record 503 million in the year to October, up one-fifth on the previous 12 months, with a US audience of 143 million.
The company, which makes a chunk of its revenue from an advertising partnership model, said it recently won clients including Netflix and L’Oreal.
Meanwhile, its 2023 buyout of female-focused Betches Media has helped with “diversification” of US income, it said.
Revenue grew 22% to 86.2 million for the period, helped by partnerships with companies including Google.
Founder Solly Solomou said: “2024 was a transformational year for LBG Media.
“We are running more campaigns for more blue-chip brands, particularly in the US, the largest advertising market in the world.”
The company projected that revenues would grow by another tenth this year, citing “good momentum” across its UK and US businesses.
LBG Media said late last year that “key sporting event activations” were key drivers of the company’s growth in audience, saying the group focused strongly on the recent Euro 2024 football tournament.
Meanwhile, it has cited the company’s campaigns, such as work to encourage young people to vote and another to stop the practice of drink spiking, as another source of momentum.
Mr Solomou added on Wednesday: “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.”
