Advanced Television

Bank: “LBG most viewed publisher on Facebook”

July 9, 2024

By Chris Forrester

LBG Media is a UK-based multi-channel digital entertainment business, with a massive global audience. It claims an audience reach of more than 1 billion and enjoyed 128 billion views last year thanks to its LADbible, SPORTbible, and Unilad series of sites. LBG says it is now the world’s all-time “most viewed and engaged publisher on Facebook”. Analysts at Berenberg Bank agree.

The bank, in a positive upgrade, says Manchester-based LBG is “uniquely positioned to enable brands to target the hard-to-reach young-adult audience. LBG’s audience grew by 23 per cent in FY23 to 452 million and it delivered 128 billion views in the year. LBG’s revenue is split 43:57 between Direct and Indirect revenue. On the Direct side of the business, LBG works with blue-chip brands, such as Visa, Nike, Disney and Diageo. Repeat client revenue in Direct was 75 per cent of the total in FY23.”

The bank has raised its target share price for LBG to £140 (current share price is about £110) and echoes management’s view which states that there is a “clear line of sight” to reach £200 million in annual revenue (2023 revenue was £67.5 million).

Berenberg said, in FY23, the split of indirect revenue between web and social was 70:30. The main social platform for LBG remains Facebook, which accounted for 91 per cent of video views in FY23.

The bank adds that further expansion into the US is likely, noting: “We believe LBG will seek to replicate the success of its UK direct route to market in North America. Management has said that there is a material opportunity to increase revenue per user in North America towards that in the UK.”

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