Expansion Increases Auddia's Exposure to another 150,000 Radio Listeners Bringing the Total Reach of the Auddia Launch to Approximately 650,000 Potential Subscribers
BOULDER, CO / ACCESSWIRE / July 20, 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 that Bluewater Broadcasting will be the fourth radio station group on the Auddia platform.
Bluewater Broadcasting is based out of Montgomery, Alabama where it operates eight local stations reaching an over-the-air audience of approximately 150,000 radio listeners each month.
Rick Peters, Managing Partner and CEO of Bluewater commented, 'I heard about Auddia from colleagues and loved the idea the minute I heard about the opportunity. After discussing with additional broadcasters and meeting the Auddia team, I decided we needed to participate on the platform to give our listeners the opportunity to engage our brands in a premium environment that the modern consumer demands. Broadcast radio is the last major media platform to put a premium experience behind a paywall. Consumers want choices when it comes to media consumption and they are willing to pay for those choices. Over 130 million consumers are paying a subscription for premium audio consumption. It is time for local radio to give our listeners this option and I am excited to join the Auddia platform to deliver a premium experience to our listeners.'
Bluewater Broadcasting joins Lakes Media, Amaturo Sonoma Media and RadioAlabama, increasing Auddia's exposure to a total current reach of the Auddia launch to approximately 650,000 potential subscribers. Bluewater and RadioAlabama make Alabama the first state with multiple broadcast groups on the Auddia platform.
Jeff Thramann, Auddia's founder and executive chairman said, 'We are excited to enhance our penetration in Alabama as geographic saturation resulting in a full complement of local radio station choices will ultimately be critical to driving value to consumers. The first stage of our rollout strategy involves deploying with the radio innovators participating in our initial program and we are now a little over two weeks into that effort. With the addition of Bluewater, we take another big step forward toward our goal of reaching 1,000,000 radio listeners in the initial phase of the rollout.'
Auddia has begun testing its artificial intelligence algorithms against Bluewater stations and expects to have them active on the platform in Q3. The Company continues to confirm guidance that it will report on the initial level of consumer interest in the subscription offering in late Q3 to early Q4.
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 Bluewater Broadcasting
Bluewater Broadcasting is an independently owned, pure play, radio operator in Montgomery, Alabama.
Bluewater owns and/or operates 4 full service FM stations, 4 FM translators, and an AM. The Bluewater cluster of radio stations reach an unduplicated audience of 47% of the market (12+) weekly, making it the most listened to radio group in the River Region.
The Bluewater group spans the markets most popular formats including Country (2), Urban (2), Adult Hits, Rock (2), and News Talk.
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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