Investment Case
WE GENERATE REVENUE
BY PROVIDING BRANDS WITH ACCESS TO OUR
GLOBAL AUDIENCE
LBG MEDIA ('LBG') HAS EVOLVED INTO A GLOBAL SOCIAL ENTERTAINMENT BUSINESS FOR YOUNG ADULTS. LBG IS COMMITTED TO ENGAGING, INFORMING AND EMPOWERING YOUNG ADULTS ACROSS THE GLOBE.
LBG Media's investment case is underpinned by a combination of attractive market dynamics, a proven digital business model and a disciplined approach to growth and capital allocation. The Board believes these strengths position the Group well to deliver sustainable growth and long-term value for shareholders.
A LARGE AND GROWING ADDRESSABLE MARKET
LBG Media operates within the fastest-growing segment of the global advertising market, benefiting from the ongoing structural shift of advertising spend toward digital and social channels, alongside the increasing economic influence of Gen Z.
The Group's serviceable addressable market is estimated at £1.5bn and is forecast to grow at approximately 8.6% between 2025 and 2027. As one of the largest global digital publishers focused on young adults, LBG Media is well positioned to capture an increasing share of this expanding market.
A PROVEN, PUREPLAY DIGITAL MODEL
LBG Media operates a digital-first, pureplay business model that continues to attract strong demand from bluechip brands seeking authentic and effective engagement with young adult audiences.
The Group's portfolio of brands is built around distinct interests and communities, driving deep engagement and cultural relevance across platforms. Publisher-led, brand-safe content, combined with data-led audience insight, enables LBG Media to deliver consistent outcomes for brand partners while maintaining long-term trust with its audiences.
A SIGNIFICANT U.S. GROWTH OPPORTUNITY
The U.S. remains the world's largest and most sophisticated advertising market and represents a key growth opportunity for the Group.
LBG Media has built momentum with leading U.S. advertisers through its dual revenue model, comprising Direct revenue from brand partnerships and Indirect revenue from platform monetisation. The acquisition of Betches Media in 2023 materially strengthened the Group's U.S. footprint, expanding reach among millennial and Gen Z female audiences.
The ongoing integration of Betches has delivered new client wins, increased cross-selling opportunities and a stronger commercial pipeline, positioning the Group for continued growth in the U.S. market.
A SCALABLE AND DIVERSIFIED OPERATING MODEL
The Group benefits from a diversified and resilient revenue base across Direct and Indirect channels, reducing reliance on any single platform, client or revenue stream.
LBG Media's leadership structure, operating culture and systems are designed to support further scale across geographies. This operating model is underpinned by a strong financial position, including a robust balance sheet and £30.8m of cash as at 30 September 2025, providing flexibility to invest in organic growth initiatives, technology and content, while maintaining disciplined capital allocation.
CONTINUED INNOVATION AND DISCILINED USE OF AI
Innovation is central to the Group's strategy and long-term competitiveness.
LBG Media continues to invest in content-driven AI and Generative AI to enhance speed, efficiency and scalability across content production, distribution and operational workflows. The Board oversees the governance of AI usage to ensure that associated risks, including data protection, content integrity and regulatory compliance, are appropriately managed.
This focus on innovation supports margin progression and operational leverage over time.
A DISCIPLINED ACQUISITION STRATEGY
LBG Media's strong cash generation and balance sheet enable the Group to pursue selective bolt-on acquisitions aligned with its strategic objectives.
The Group focuses on acquisitions that expand audience reach, increase engagement and enhance appeal to blue-chip advertisers. Transactions are structured with earn-outs to ensure alignment of interests and shared success. The acquisition of Betches Media exemplifies this approach and demonstrates how disciplined M&A supports the Group's long-term value creation strategy.
The Board believes that the combination of exposure to a large and growing market, a proven digital model, scalable operations, U.S. growth opportunity, continued innovation and disciplined M&A provides a compelling and sustainable investment case for LBG Media.