Auddia creates proprietary audio content hosting, streaming system » 07:1002/0102/01/23
Auddia announced that it…
Auddia announced that it has created a proprietary audio content hosting and streaming system that supports the unique and exclusive demands offered in its flagship mobile app, faidr. The Company launched faidrRadio, currently only available in its iOS product, which includes both Music Casts and Music Stations on January 24, 2023. Music Casts will be added to its Android app later in Q1. To host and distribute the dynamic content within Music Casts, the Company has created a proprietary music hosting and streaming system that supports a unique method of music and talk-segment delivery. This proprietary system can host, stream and track music plays while providing novel controls to listeners and can also accommodate music podcasts that play entire songs within episodes while complying with existing music-streaming guidelines. Auddia will be launching podcasts in the app before the end of Q1 to combine differentiated ad-free listening and exclusive content with podcasting to complete the first phase of the Superapp strategy.
|Over a week ago|
Auddia announces launch of faidrRadio offering » 08:5501/2401/24/23
Auddia announced that it…
Auddia announced that it has launched faidrRadio, an exclusive content offering within the faidr mobile app. Delivering both curated music playlists, called Music Stations, and DJ-hosted episodic programming, called Music Casts, faidrRadio is available to all iOS users for a short time, and then will only be accessible to subscribers and users in their 30-day free trial period. Android users will have the same conditioned access to faidrRadio later in Q1. At the time of launch, faidrRadio offers seven Music Stations and 30 Music Casts, with expansion planned throughout 2023.
|Over a month ago|
Auddia to host conference call » 10:1511/1511/15/22
Corporate and investor…
Auddia provided a corporate update » 07:1411/1511/15/22
Auddia provided a…
Auddia provided a corporate update, and will hold an investor call and webcast. Jeff Thramann, founder and executive chairman, stated, "We are excited to provide this corporate update as we achieve the critical milestone of transitioning to a revenue generating company. The past year has resulted in tremendous progress, highlighted by the on-time national launch of faidr on February 15th and the subsequent release of key cost-per-install and monthly user metrics that exceeded expectations. The last 120 days have seen an intense all-hands-on-deck effort by the team to optimize the core metrics needed to support a viable business. Although the optimization process will continue in perpetuity, the results we have seen across Q3 and Q4 to date have given us the confidence to provide revenue guidance for the first time. A major milestone for the company. We look forward to providing the details and further growth updates on the webcast."
Auddia to host conference call » 04:5511/1511/15/22
Corporate and investor…
Auddia to host conference call » 22:3011/1411/14/22
Corporate and investor…
Auddia announces departure of Chief Financial Officer » 07:1311/0411/04/22
Auddia announced the…
Auddia announced the departure of its Chief Financial Officer, CFO, Brian Hoff. Hoff is leaving the Company to join a private equity backed manufacturing company, as CFO. Auddia's Board of Directors has approved an outside firm to support financial reporting and serve as fractional CFO effective upon Hoff's departure. The Company has also launched a formal search process to identify a new CFO.
|Over a quarter ago|
Auddia announces uer performance metrics, announces new features for faidr » 07:1710/1910/19/22
Auddia announced "positive" user data with costs-per-install, CPI, through Q3 continuing to decline as the Company gains visibility to reaching a CPI below $2 as user adoption and organic customer referrals increase. Auddia is continuing to execute on the process of optimizing the user experience, improving performance metrics, and quantifying subscription conversion rates in preparation for providing 2023 revenue guidance with Q3 filings in mid-November. The Company is currently conducting its second test of subscription conversion rates after the first test saw an 8.5% subscription conversion rate, exceeding internal expectations of 5%. Auddia is hoping to exceed 8.5% with the most recent test, which concludes on November 9, 2022. "faidr's audience prefers choosing what they want to hear on AM/FM radio streams. The app launched in February and, according to AppsFlyer data, faidr is already performing in the top 10% of music and entertainment apps for retention," said Michael Lawless, Auddia's CEO. "This is particularly encouraging given that mobile app strategies to optimize retention have not yet been implemented. As those strategies are integrated into our marketing efforts, we expect retention to have a meaningful uptick. By adding podcasts and faidrRadio content, we're empowering listeners with more choices while supporting our partners and independent music creators. We expect these content strategies to also have a significant impact on retention improvement."
Auddia says 88% of radio stations in faider app enabled with AI algorithm » 07:2508/0108/01/22
Auddia announced it has…
Auddia announced it has applied its next generation AI algorithm to deliver an improved commercial-free listening experience to 88% of the radio stations within the faidr mobile app. In late June, the Company announced it had made a major improvement to its core AI algorithm and had deployed the new advanced algorithm for the first time across approximately 10% of faidr stations. Auddia also announced its plans to apply its new AI algorithm to an additional 80% of stations by the end of July, and to the final 12% of stations by the end of Q3. The Company has now achieved its goal of deploying its advanced AI algorithm across 88% of stations by the end of July.
Auddia's faidr mobile app receives over 80,000 downloads in Q2 » 07:5607/2107/21/22
Auddia announced that in…
Auddia announced that in Q2 of 2022, its flagship faidr mobile app exceeded its target goals, receiving more than 80,000 downloads, achieving a cost-per-install of less than $3, and surpassing 40,000 monthly active users. "The goal of our initial marketing effort for faidr was twofold. First, we wanted to demonstrate that consumers were interested in downloading an app that gives them control over the radio listening experience, and second, we wanted to build an audience that we could leverage to see how consumers use faidr. Real world usage data is invaluable for optimizing the user experience, which is a prerequisite for driving the highest possible subscription-conversion metrics," said Auddia CEO Michael Lawless. "We were encouraged by the 90-day launch results we provided for faidr in mid-May and are further encouraged by the final Q2 results of this initial marketing push. We far exceeded our initial targets for downloads, cost-per-install, and MAU's." The Company is now focused on an iterative process of analyzing user behavior in the app, using that data to prioritize product enhancements, and analyzing the consumer response to those product changes. This process is already yielding solid improvements in key usage statistics, and management is encouraged that this optimization process will result in user engagement and subscription conversion metrics that are comparable, or superior, to the early subscription conversion rates reported by other media app category leaders. The Company, in conjunction with the process of optimizing usage data through product enhancements, will conduct a series of subscription trials with its existing user base in preparation for announcing initial subscription conversion rates and 2023 revenue guidance at the time of filing its third quarter 10Q.