Auddia app saw ~3X click-to-install rate over average for a music mobile application
Remains on track for full national launch on February 15, 2022; Rebranding and new name of Auddia app to ‘faidr'
BOULDER, CO / ACCESSWIRE / January 24, 2022 / Auddia Inc. (NASDAQ:AUUD)(NASDAQ:AUUDW) ('Auddia' or the 'Company'), developer of a proprietary AI platform for audio and innovative technologies for podcasts that is reinventing how consumers engage with radio, today announced early metrics from a 2-month advertising campaign that focused on driving users in Sonoma County to the Auddia app after adding eight local stations from the County.
'The addition of Sonoma County stations to the Auddia app in December represented the first time we were able to provide consumers in a local market access to a meaningful number of radio station options,' said Theo Romeo, Auddia's VP of Marketing. 'With this geographic density of stations, we ran a 2-month advertising campaign consisting of on-air mentions across Amaturo Sonoma Media radio stations as well as targeted digital campaigns. The objective of the campaign was to evaluate consumer interest in listening to radio in a personalized manner. We are pleased to report that early results produced higher-than-industry-average conversion rates across the funnel, indicating strong early-stage consumer adoption. Digital ads saw a consistent 0.3% click-through conversion rate and a click-to-install rate of 11%, which is nearly 3X over the industry average.'
Auddia CEO Michael Lawless said, 'We are very encouraged about the early indicators we are seeing around user adoption and engagement ahead of our launch of over 4,000 radio stations on the platform in February. Our messaging resonated well in Sonoma, indicating that people are drawn to an interruption-free radio experience, and we can't wait to see how this accelerates as we take a giant step up in scale next month.'
In addition to the encouraging results in Sonoma, Auddia is also announcing that the Auddia app is being completely rebranded with an updated user interface and new name for the nationwide launch on February 15, 2022.
Theo Romeo continued, 'the new name of the Auddia app will be 'faidr'. The letters ‘ai' are an obvious nod to artificial intelligence, and faidr is a direct reference to the crossfader, the toggle DJ's use to fade new songs into the mix. This is indicative of the control we give consumers through our AI. Auddia, the company, is a platform technology company reinventing how listeners consume radio and audio in general. The new name for our radio application emphasizes the hallmark control we give consumers over the radio listening experience while simultaneously acknowledging the role of our proprietary AI in the process.'
In addition to the new design, the faidr application will include new-music discovery and expanded content features. It will be available in both iOS and Android operating systems and allow new users to choose between free and subscription-based product experiences once an initial 30-day trial expires.
About Auddia Inc.
Auddia is reinventing how consumers engage with audio through the development of a proprietary AI platform for audio and innovative technologies for podcasts. Auddia offers two industry firsts-the ability to listen to any AM/FM radio station with added personalized content and no commercials, as well as podcasts with an interactive digital feed that supports deeper stories and delivers digital revenue to podcasters. Both offerings address large and rapidly growing audiences with strong purchase intent. For more information, visit: www.auddia.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about the Company's current expectations about future results, performance, prospects and opportunities, including, without limitation, statements regarding the anticipated use of proceeds from the offering. Statements that are not historical facts, such as 'anticipates,' 'believes' and 'expects' or similar expressions, are forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are encouraged to review the section titled 'Risk Factors' in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, as well as other disclosures contained in the Annual Report and subsequent filings made with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Auddia Inc.
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