Auddia Announces Continued Favorable 30-day Retention and the Launch of Commercial Subscriptions
faidr 30-day retention continues to build
Upgraded subscription conversion optimization platform launched last week
Subscription revenue guidance to be reported end of Q1
BOULDER, Colo., Feb. 10, 2025 (GLOBE NEWSWIRE) -- Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) ("Auddia" or the "Company"), a technology company that has built a proprietary AI platform for audio identification and classification to reinvent how consumers engage with audio, today announced that 30-day user retention metrics are continuing to build.
Auddia reported acceleration of faidr 30-day retention to over 20% in October and finished the year with each month in Q4 over 20%. January retention continued to build to just below 25% and February is expected to be the first month to surpass 25%.
Last week Auddia completed integration into faidr of an advanced subscription platform in support of executing an advanced subscription conversion and revenue optimization strategy.
"We continue to see positive momentum across all stages of the retention funnel as a result of our ongoing product and marketing optimization improvements," said Theo Romeo, Auddia's Chief Marketing and Product Officer. "As these product and marketing optimizations continue to bear fruit, we are now in the early stages of adding subscription conversion optimization strategies to the mix. This began in earnest last week when we completed the integration of an advanced subscription conversion platform into faidr. This platform gives us the ability to dial in the best combination of pricing, messaging, and offerings to optimize subscription conversions and revenue. We expect to see subscription conversion metrics follow a similar positive trajectory to the one we have been demonstrating for 30-day retention."
The Company reaffirms that at the end of Q1 it expects to provide further guidance on how subscription revenue may build over the year as product, marketing, and subscription conversion optimizations continue to drive results.
About Auddia Inc.
Auddia, through its proprietary AI platform for audio identification and classification, is reinventing how consumers engage with AM/FM radio, podcasts, and other audio content. Auddia's flagship audio superapp, called faidr, brings multiple industry firsts to the audio streaming landscape that include:
- subscription based, ad free listening on any AM/FM radio station
- content skipping across any AM/FM station
- one touch skipping of entire podcast ad breaks
- subscription based, ad free listening to podcast partners
faidr also delivers exclusive content and playlists, and showcases exciting new artists, hand-picked by curators and DJs. For more information, visit: www.auddia.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, 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. 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, 2023, 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.
Investor Relations:
Kirin Smith, President
PCG Advisory, Inc.
[email protected]
www.pcgadvisory.com
