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$AUUD 1.37 Q2 Metrics Exceeding Target Goals https://www.accesswire.com/709272/Auddia-Inc-Announces-Final-Q2-Metrics-for-Its-Flagship-faidr-TM-Mobile-App-Exceeding-Target-Goals

Auddia Inc. Announces Final Q2 Metrics for Its Flagship faidr (TM) Mobile App Exceeding Target Goals

Initial subscription conversion rates and 2023 revenue guidance to be announced with Q3 2022 quarterly filings

Launch results support a data driven process focused on optimizing consumer use in preparation for first subscription revenue

BOULDER, CO / ACCESSWIRE / July 21, 2022 / Auddia Inc. (NASDAQ:AUUD)
(NASDAQ:AUUDW) ("Auddia" or the "Company"), developer of a proprietary AI
platform for radio and innovative technologies for podcasts that is reinventing how
consumers engage with audio, today 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.

"We are pleased with our execution to date in bringing this unique app to market,"
said Theo Romeo, Auddia's VP of Marketing. "We've spent the last few months
improving every aspect of our faidr go-to-market strategy, leveraging the user data
we have, making data-driven decisions about new features, fine tuning our
messaging to users, measuring the impact of each change we make, and seeing
immediate improvements in our key-usage metrics. Going forward, internal metrics
tracking, and external reporting, will be centered on end-user behavior within the
faidr app, from initial app downloads through to time spent listening and ultimately
to subscription conversions and long-term subscriber retention. All operational
activities, including product-development work, will be aimed at driving these
metrics above industry-benchmark levels."

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.

NASDAQ Nano Float 8.96M | O/S 12.38M https://www.otcmarkets.com/stock/AUUD/security

https://apps.apple.com/us/app/auddia/id1567629951

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