Auddia Inc. Announces its First Broadcast Radio Partnership as it Launches with Lakes Media LLC

Rhea-AI Summary

Auddia Inc. (NASDAQ:AUUD, AUUDW) has announced a groundbreaking partnership with Lakes Media LLC, marking the first instance of a radio broadcaster promoting a subscription-based, commercial-free listening experience. This collaboration aims to gather data on consumer engagement with local radio content in a premium format. The initiative follows a Harris Insights survey indicating strong interest among subscribers of similar services. Auddia plans to launch a premium app with a free trial for consumers, with initial results expected in the second half of 2021.

Positive

• First partnership with a radio broadcaster to promote a subscription-based premium listening experience.
• Collaboration expected to yield valuable data on consumer engagement and purchase intent in a new format.
• Auddia's innovative AI platform enhances user experience by offering commercial-free listening and personalized content.

Negative

• Dependence on the successful replication of Harris Insights survey results to attract subscribers.
• -

Partnership Marks First Time a Radio Broadcaster will be Marketing & Promoting a Subscription-Based Commercial-Free Premium Listening Experience to Their Listeners

BOULDER, CO / ACCESSWIRE / March 18, 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 its first broadcast radio partnership with Lakes Media LLC. The partnership marks the first time a radio broadcaster will be marketing and promoting a subscription-based commercial-free premium listening experience to their listeners.

Auddia Inc. previously commissioned a Harris Insights survey which showed strong purchase intent from consumers, especially consumers already paying a subscription for satellite radio or streaming music services. The partnership with Lakes Media is aimed at gathering real-world data related to subscribers accessing local radio content in a premium environment that eliminates commercials and supports personalized content choices.

Tom Birch, owner of the six stations comprising Lakes Media, commented, "I have analyzed the raw data from the Harris Insights study and applied the key metrics related to purchase intent and subscription revenue to the audiences listening to my stations. In short, if the partnership with Auddia comes close to replicating the Harris Insights results, Auddia will be a game-changer for radio. We are excited to explore this opportunity."

Jeff Thramann, the founder and executive chairman of Auddia, said, "We have been filing patents and advancing our AI for audio platform for a number of years. Throughout the process, we have been in dialog with multiple leading broadcasters who have consistently advised us to partner with influential independent broadcasters to bring the Auddia platform to market. It is expected that success with the independents will be a precursor to rapid acceptance with the major broadcasters. Given Tom Birch's reputation in the industry, we believe Lakes Media represents an incredible opportunity for our first partnership with a radio broadcaster."

The partnership launched this week with Auddia initiating the process of onboarding the Lakes Media stations. Once completed, a premium Lakes Media app will be launched by Auddia and promoted to consumers. Consumers will have a free 30-day trial to evaluate the premium experience before subscribing. Upon national launch of the Auddia app, all subscribers to the premium Lakes Media app will receive an automatic update resulting in the seamless incorporation into the nationally launched Auddia app.

Auddia Inc. and Lakes Media expect to report initial results of the launch in the second half of 2021.

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

About Lakes Media LLC

The Lakes Media stations dominate Radio listening in Northern North Carolina and Southside Virginia where over 147,000 people tune in each month. LMN stations are consistently top-rated in local audience ratings and all Lakes Media stations have regional and national audiences that listen to streaming audio online or mobile through the iHeartRadio and TuneIn apps. 100% of Lakes Media programming is simulcast. Listening on the website is through a unique Lakes Media TuneGenie player that allows listeners to see songs played in the last hour, week or month. The TuneGenie player enables display of a video ad before the stream listening session begins.

Forward-Looking Statements

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 described more fully in the section titled "Risk Factors" in the final prospectus related to the offering filed 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.
ksmith@pcgadvisory.com
(646) 823-8656
www.pcgadvisory.com

SOURCE: Auddia Inc.

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FAQ

What is the partnership between Auddia and Lakes Media about?

Auddia and Lakes Media have partnered to promote a subscription-based commercial-free listening experience, aiming to gather consumer data on engagement with local radio content.

What are the expected outcomes of the Auddia and Lakes Media partnership?

The partnership is expected to provide insights into consumer engagement and subscription revenue potential, with initial results anticipated in the second half of 2021.

What technology does Auddia offer for audio engagement?

Auddia has developed a proprietary AI platform that allows for commercial-free listening of AM/FM radio stations and interactive podcasts.

What is the significance of the Harris Insights survey for Auddia?

The Harris Insights survey indicated strong purchase intent among consumers for subscription services, serving as a foundation for Auddia's partnership with Lakes Media.