National Launch of Subscription Based Commercial Free Radio Officially Began June 28, 2021
Significant Artificial Intelligence Advancements Allow for Expedited National Rollout
BOULDER, CO / ACCESSWIRE / June 29, 2021 / 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 audio, today announced the immediate availability of its flagship Auddia app in the AppStore. The Android version will be released later this week ahead of Lakes Media widely marketing the national launch of Auddia over the air commencing on July 5, 2021. The Company's significant AI advancements that were recently announced now allow for it to expedite its full national launch and rollout ahead of its previous guidance.
Jeff Thramann, the founder and executive chairman of Auddia, commented, "Launch of the Auddia App represents the culmination of an incredible amount of vision, innovation, dedication and persistence across the entire Auddia team. Courage never quits, and I could not be prouder of the steadfast resilience our team displayed in achieving this remarkable milestone. It is invigorating to be at the forefront of changing a massive industry that represents such an enormous growth opportunity. Radio dominates all other audio platforms in time spent listening by a large double-digit percentage lead, yet they are the only major content platform to not deliver a premium subscription product that allows their consumers to avoid commercials and personalize content. The Auddia App changes this paradigm, it delivers freedom from commercials and choice of content to radio listeners for the first time, and we fittingly launch going into Independence Day."
Michael Lawless, CEO of Auddia, commented, "Unlike what we reported in previous broadcast partner announcements, due to the significant AI advancements we recently announced, we are no longer running trials on individual apps as part of a beta launch that leads into a national launch. Rather, we are accelerating our deployment schedule and moving directly to the launch of the Auddia app. Lakes Media stations are already active on the platform and will be followed shortly by Amaturo Sonoma Media and other partnerships we hope to announce in the coming weeks. The change in strategy is related to not only the jump in accuracy and efficiencies associated with our core AI platform, but also to the enthusiasm of independent broadcasters that is exceeding initial expectations. The launch of the Auddia App is an incredible milestone and we look forward to reporting metrics around early results of consumer adoption over the next quarters."
Peter Shoebridge, Auddia's Chief Technology Officer, added, "We're pleased to be launching this first, initial version of the Auddia app and incredibly excited about where our audio content capabilities are heading. We have delivered on the core, fundamental capability of using Artificial Intelligence to create a compelling radio listening experience. We look forward to building on this by adding new channels, new sources of audio content, greater user control and a revolutionary new listening experience."
Launching Auddia, as opposed to a series of individual market apps, allows the Company to progressively advance the product by adding more stations, more audio content fill choices and more product features. Auddia is launching at a price point of $5.99/month. As increasing consumer value is delivered through more stations, content fill capabilities and additional app features, the Company anticipates escalating the subscription price over time to achieve a final target of $11.99/month.
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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