CBS, one of United States's largest broadcast media outlets with over 72 million viewers tuning in weekly, has inked a contract with Audioboom Group PLC (BOOM.L) to distribute its content on Audioboom's social media platform Audioboo.
A news release from Audioboo detailing the partnership stated that CBS has signed up for a full master and sub-channel structure with Audioboom, which involves launching two of its major radio stations, WFAN, New York's 24/7 sports station, and LA music station KROQ.
The structure will be made available to 126 more stations under CBS's network in the United States, allowing Audioboo to reach over 72 million radio listeners.
"CBS gives us fantastic reach and exposure in America which is a key and rapidly expanding market for us. Agreements with world class companies such as these illustrate the potential global reach of Audioboom as it continues to build momentum and become a major social media company," said Rob Proctor, CEO of Audioboom.
CBS Radio Limited (NYSE:CBS) broadcasts in 27 markets.
Audioboom also signed up Sky Sports Limited, according to the same news release.
"CBS and Sky Sports are two of the world's biggest broadcasters and we are delighted they are using our technology and platform to further utilize and share their wonderful audio content. They are two of the most significant channel partners we have signed and are a great boost to the expansion of our sport and entertainment vertical audio markets," Proctor said.
Audioboom is a software-as-a-service (Saas) solutions provider focused on digital audio broadcasting and cross-platform sharing.
Audioboom's digital social media audio streaming and content creation platform, Audioboo, allows its many partners to share content to millions of subscribers globally through Facebook, Twitter and content syndication channels.
The software allows media partners to embed clips and playlists on their websites and a variety of online applications for web sharing.
Some of the shareable content available on Audioboo's platform includes sports, entertainment and news reports, as well as commentaries and brief interviews.
As of April 2014, Audioboom has over 800 content partners and more than 1,000 content channels. Over 80,000 new users register on Audioboo's official page per month. Each site user spends an average of 18 minutes on the website, data showed.
Audioboom trades on the London Stock Exchange. Its stocks closed at $5.54 per share on Friday. The company has a market capitalization of 25.42M.
Audioboom owns subsidiaries One Delta Limited and Fusion Delta Limited, according to Google Finance. The company is growing rapidly in the US, United Kingdom and Australia.