Results for the year ended 31 December 2021 and Notice of AGM

21 April 2022

LBG Media, the UK-based multi-brand, multi-channel digital youth publisher, is pleased to report its results for the full year ended 31 December 2021. During the year, the Group delivered an outstanding performance with significant growth in revenue and adjusted EBITDA1, along with further growth in global audience and content views.


The full results are available to download in 
PDF format

Financial Highlights

Business performance measures 2021 (£m)
2020 (£m)
-        Direct
-        Indirect
-        Other
Total Group Revenue
Adjusted EBITDA1
      -  Adjusted EBITDA margin1
Profit before tax 8.1 4.1 98%
Cash and cash equivalents 34.3 6.9 395%


  • Revenue of £54.5 million (2020: £30.2 million), up 81% YoY, with strong performance driven by increases in both Direct and Indirect income streams
  • Direct revenue grew by 58% to £22.4 million (2020: £14.2 million) due to significant increases in content marketing and direct display sales in the UK, Australia and Ireland
  • Indirect revenue grew by 103% to £29.7 million (2020: £14.7 million), primarily due to a 97% increase in views of Group-generated content to 63 billion (2020: 32 billion), and increased monetisation across the social media platforms during 2021 
  • Adjusted EBITDA1 of £16.8 million (2020: £5.5 million), up 206% YoY, at a margin of 31% (2020: 18%)
  • Cash and cash equivalents of £34.3 million (2020: £6.9 million), with cash conversion of 122%, reflecting strong cash generation in the year and the gross proceeds of £30 million of growth capital raised on IPO.

Operational Highlights

  • The Group’s global audience grew by 31 million people to over 264 million (2020: 233 million), with 63 billion content views per annum, up 97% on the prior year, following investment in people to increase volumes and drive more engaging content across various platforms
  • The Group continued to expand its remits with existing customers and won new customers across a diverse range of sectors.


In 2021 digital advertising spend was £336 billion2 and with continued acceleration in digital transformation and growing e-commerce activity anticipated, it is forecast that will grow at 12% CAGR until 20242 Operating within some of the fastest growing segments of this market, LBG Media continues to see significant growth opportunities in three main areas;

  • Geographically, through expansion organically into new geographies,
  • M&A, with a focus on geographic and demographic diversification,
  • Continued development of capabilities to produce innovative content and drive engagement.

At this early stage of 2022, year to date performance is in line with market expectations and the Group remains on track to deliver against revenue growth expectations for the full year. As with prior years, revenue and EBITDA are affected by seasonality in advertising spend. Margins are therefore weighted to H2 given that costs are relatively flat throughout the year.


CEO, Solly Solomou commented:

“I am delighted with the outstanding performance and significant growth that LBG Media has delivered during 2021, alongside our successful listing on the London Stock Exchange. The business has achieved a great deal and I want to thank each and every one of the team for their valuable contribution to its continuing success.

Through ongoing investment in our teams, combined with our focused and relevant content, we have continued to see growth in our global audience and followers. Providing unmatched access to an audience that brands and organisations typically find hardest to reach makes us a particularly attractive partner to an ever increasing number of global businesses, government organisations and other entities. These factors position us well for the future and I am incredibly excited by the opportunities that lie ahead.”

1 Earnings before interest, tax, depreciation, and amortisation adjusted for loss on disposal of intangible assets, share based payments and exceptional items
2 Data source: Emarketer. GBP:USD fx rate of 1.353372 as at 31/12/2021


For further information please contact:

LBG Media plc
Tim Croston, Chief Financial Officer
Clara Melia, Investor Relations
Mark Mochalski, Investor Relations
[email protected]
(Nominated Adviser & Broker)
Dan Bate / Nick Cowles / Benjamin Robertson
Tel: +44 (0) 161 831 1512
Media enquiries
Richard Oldworth / Chris Lane / Toto Berger / Jack Devoy
Tel: +44 (0) 20 7466 5000


Analyst Presentation

LBG Media plc will be hosting an analyst presentation on Thursday 21 April 2022 following the release of these results for the year ended 31 December 2021. Attendance is by invitation only. Slides accompanying the analyst presentation, along with a recording, will be available on the LBG Media plc website following the event.


Annual Report and Accounts and Notice of AGM

An electronic copy of the Annual Report and Accounts and the Notice of AGM will be available shortly on the investor section of the Company’s website

The Company’s AGM will be held at the offices of Addleshaw Goddard LLP, Milton Gate, 60 Chiswell Street, London, EC1Y 4AG on Thursday 26 May 2022 at 9am.


Notes to editors

LBG Media is a multi-brand, multi-channel digital youth publisher and is a leading disrupter in the digital media and social publishing sectors. The Group produces and distributes digital content across a range of mediums including video, editorial, image, audio, and experience (virtual and augmented reality). Since its inception in 2012, the Group has curated a diverse collection of ten core specialist brands using social media platforms (primarily Facebook, Instagram, Snapchat, Twitter, YouTube and TikTok) and has built multiple websites to reach new audiences and drive engagement. Each brand is dedicated to a distinct popular interest point (e.g. sport, gaming etc.), which is designed to achieve broader engagement, increase relevance and ultimately build a loyal community of followers.

The Group operates two core routes to market: Direct revenue, which is principally generated from the provision of content marketing services to corporates, brand owners, marketing agencies and other entities such as government bodies and where the relationship with the client is held directly by LBG Media; and Indirect revenue, which is generated via a third-party, such as a social media platform or via a programmatic advertising exchange / online marketplace, which holds the relationship with the brand owner or agency.

Latest Investor News

23 May

Share Price


Important Dates

23 May
Annual General Meeting