Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Auddia to enhance Radio FM app with AI for ad-free experience

EditorEmilio Ghigini
Published 01/03/2024, 12:10 am
© Reuters.
AUUD
-

BOULDER, CO - Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW), the company known for its proprietary AI platform for audio identification and classification, announced plans to integrate its technology into the Radio FM app, aiming to offer a premium ad-free AM/FM listening experience for its subscribers.

This move is expected to maintain current advertising revenues while introducing a new subscription model within the next two quarters following the acquisition of Radio FM.

The integration strategy is designed to preserve the existing free tier of Radio FM, which currently serves 4.6 million monthly users and generates the majority of its revenue through digital ad placements. Auddia's Chief Marketing Officer, Theo Romeo, emphasized that the user experience will remain unchanged immediately post-acquisition, allowing for a seamless transition to premium options.

Auddia's CEO, Michael Lawless, expressed that the company's goal is to preserve all acquired revenue while adding high-margin subscription revenue. The eventual merger of user interfaces between faidr and Radio FM into a single audio "Superapp" is part of a long-term vision to deliver cost synergies.

The company's acquisition strategy also includes providing Auddia's ad-free podcast partners access to Radio FM's global user base. Management believes that if a 5% subscription conversion rate is achieved among Radio FM's acquired users, Auddia will reach profitability in 2025. If additional targeted acquisitions are successful, this timeline may accelerate.

Auddia's flagship audio superapp, faidr, offers subscription-based, ad-free listening on any AM/FM radio station and ad-free podcast listening, along with interactive digital feeds for deeper storytelling. This approach addresses a growing audience with strong purchase intent.

The information in this article is based on a press release statement and contains forward-looking statements that involve uncertainties and risks. These could significantly affect the company's plans and future financial performance. Investors are encouraged to review the company's filings with the Securities and Exchange Commission for a detailed discussion of these risks.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.