Auddia Announces First Beta Program Partner for Subscription Pay-Per-Play Podcasting
Ultimate Motorcycling Magazine's Podcast Motos And Friends Will be the First Partner for faidr's Subscription Beta
faidr's Beta Program Pays Podcast Owners per Listen While Delivering an Ad-reduced Experience for Users
BOULDER, CO, July 09, 2024 (GLOBE NEWSWIRE) -- Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) ("Auddia" or the "Company"), a proprietary AI platform for audio identification and classification and related technologies, reinventing how consumers engage with AM/FM radio, podcasts, and other audio content, today announced it has secured the first partner for its beta podcast subscription program with Ultimate Motorcycling Magazine.
"We at the Motos And Friends understand the interruptive downside to advertising in podcasting, and we've always been thoughtful about integrating relevant sponsorship content into our episodes," said Arthur Coldwells, the founder and host of Motos And Friends. "Auddia's approach represents an attractive economic model for us, one that does not require interrupting the content the listener is enjoying, and we're excited to see how our audience responds."
In March of 2024, Auddia provided details of its Pay-Per-Play podcast beta, the goals of which were to tap into higher margins and enable greater efficiencies beyond the current economics of podcasting. Since that update, the Company has been in talks with multiple podcast owners and networks interested in joining its beta program.
For the beta program, which runs for 90 days and kicked off on July 1st, 2024, all new Motos And Friends episodes on the faidr app will be delivered through Auddia's Seamless Play technology, leveraging the Company's AI and NLP technologies of segment-identification and ad-avoidance. For each play or download, Auddia will compensate Ultimate Motorcycling per play on the faidr app. The rate is roughly double what the average ad-supported podcast makes per download.
"We're thrilled to launch this partnership with Motos And Friends podcast," said Michael Lawless, CEO of Auddia. "From the beginning of developing the feature, our goal was to foster a stronger economic environment for podcasters. The creators behind Ultimate Motorcycling Magazine immediately understood what we were trying to achieve, and we're excited to see how their listeners engage with our platform."
In addition to launching faidr in both CarPlay and Android Auto in the coming weeks, the Company is in the process of bringing several other podcast partners into the beta Pay-Per-Play program and will announce further progress milestones accordingly.
About Auddia Inc.
Auddia, through its proprietary AI platform for audio identification and classification and related technologies, is reinventing how consumers engage with AM/FM radio, podcasts, and other audio content. Auddia's flagship audio superapp, called faidr, brings two industry firsts to the audio-streaming landscape: subscription-based, ad-free listening on any AM/FM radio station and podcasts with interactive digital feeds that support deeper stories and open untapped revenue streams to podcasters. faidr also delivers exclusive content and playlists, and showcases exciting new artists, hand-picked by curators and DJs. Both differentiated offerings address large and rapidly growing audiences with strong purchase intent. 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
