- Approximately 90% of Vodacast users engaging with digital feed content; mobile app downloads increased 230% with more than 20% of users retained
- Reiterates target for initial release of Flex Revenue in the first quarter of 2022
BOULDER, CO / ACCESSWIRE / November 1, 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 released the first Vodacast data showing consumer engagement with the proprietary digital feed that correlates to the podcast audio. Initial results, which were generated across nearly 1,500 downloads of 100 feed-enabled episodes from 19 different podcast shows, reveals that almost 90% of users engaged with the digital feed when the feed is available and 35% of those users engaged with more than half of the total digital content in the feed.
In addition to almost 90% of users interacting with the feed, Vodacast saw a 230% increase in mobile app downloads and a 275% increase in show subscriptions in Q3'21 as compared to Q2'21. All-time user retention is strong at over 20%, which is very high for mobile app retention.
"In July, we released the Vodacast Hub to give podcasters an easy-to-use digital content management system to deliver bonus content to their listeners such as videos, images, stories, reports, documents, graphics, and explainers that correlate directly to the audio content of the podcast," said Blake Redson, VP Product & Operations. "We achieved our goal of integrating analytics into the digital feed in Q3 and are now following up on our commitment to report on the critical metric of the level of consumer engagement with the feed. As you can imagine, we are extremely happy with the early numbers we are seeing."
Auddia CEO Michael Lawless added, "As I mentioned this past July, we prove the efficacy of the Vodacast platform to podcasters and consumers when the revenue generation and consumer experience benefits of the digital feed offset the opportunity costs of creating and promoting the feed. To see almost 90% of Vodacast users accessing an episode feed when one is available is beyond encouraging and strongly reinforces our goal of giving podcasters a real opportunity to access the $378B digital ad market for the first time, while also providing their fans the premium content they are obviously craving."
In July, Auddia rolled out the Vodacast platform with 6 podcasts running with digital episode feeds. That number has now grown to more than 20 podcasts. Based on the compelling user engagement data seen to date, Auddia has opened the Vodacast platform to independent podcasters. Opening the platform to podcasters means they can now verify and activate their podcast on Vodacast which gives them access to the Vodacast Hub for free to create their own digital feeds. This includes the ability to create digital ad units that correspond with audio ads in their episodes. Digital ads in the feeds introduces a new revenue stream for podcasters which is shared with Auddia. Data from this rollout will be used to provide 2022 revenue guidance for Vodacast in Q2 of next year.
The company is reaffirming that additional premium revenue opportunities will be available for podcasters on the Vodacast platform through the release of Flex Revenue, a dynamic subscription and on-demand payment capability, that remains on target for initial release in the first quarter of 2022.
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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