First Podcasting Platform to Provide Access to Revenue from the Global Digital Ad Market
BOULDER, CO / ACCESSWIRE / July 12, 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 the release of the Vodacast Hub, a digital content management platform that allows podcasters to easily create digital feeds that correlate with their audio content. Launch of the Hub initiates the first of several new monetization mechanisms that Vodacast will provide to podcasters and a major new content feature for podcast listeners.
Vodacast Product Manager Blake Redson said, "Almost all podcasters uncover interesting digital content when they research their shows. Today, this content goes largely unused because there is no platform that easily lets creators tag and post this content in an interactive digital feed for convenient consumption by their listeners while they listen or later as a reference. The Vodacast Hub changes this paradigm, giving podcasters an easy-to-use digital content management system providing creators the ability to deliver bonus content to their listeners such as videos, images, stories, reports, documents, graphics, and explainers that correlate directly to the audio content or subject of the podcast. Posting this content in a digital feed tied to the podcast audio allows podcasters to tell deeper, more interesting stories and for consumers to have a more interactive and immersive listening experience."
Brian Hoff, Auddia's Chief Financial Officer explained, "The Vodacast Hub and its digital feed gives podcast creators a gateway to the $378 billion worldwide digital advertising market. Today, podcasters receive advertising revenue mainly from their audio ad inventory which is expected to be a $1.3 billion market opportunity in 2021. But podcasters are not tapping into digital marketing opportunities on mainstream podcast players like Apple Podcasts and Spotify. Vodacast changes this with the Hub which allows podcasters to place native digital ads directly in the digital feed with options to sync those ads to the audio ad in the podcast. Further, integration with other leading digital programmatic ad servers like MoPub, will be completed in mid Q3 2021 which will allow podcasters to generate even more digital revenue. We believe the Vodacast Hub and digital ad serving capability represents the first opportunity for podcasters to generate digital advertising revenue at scale. Until now, it didn't matter to podcasters where people listen to their podcast. Vodacast changes that because podcasters can make more money on Vodacast by tapping into native digital ads and soon, programmatic digital advertising."
Further accelerating the digital revenue opportunity is that Auddia architected the interactive digital feed to be available to podcast listeners across any podcast player through the show notes of the podcast. This means the new synched digital feed, including digital advertising, can be presented to 100% of the listening audience, even if they are listening through Spotify, Apple Podcasts, Google Play or any other podcast player.
Auddia Chief Executive Officer Michael Lawless said, "We prove the efficacy of the Vodacast platform to podcasters when the revenue generation and consumer experience benefits of the digital feed offset the opportunity costs of creating and promoting the feed. Given that the feed gives podcasters access to the largest and fastest growing segment of the advertising market for what we believe is the first time at scale, we see this as an incredible opportunity for podcasters to diversify and increase their revenue, while giving consumers a far more immersive, interactive and interesting listening experience. We look forward to further evolution of this digital feed as the creativity of podcasters and the engagement of audiences come together on our digital platform. This could be the catalyst for the birth of a social audio platform around podcasting with extreme growth potential."
Auddia has now taken the first steps to prove efficacy to podcasters and currently has engaged six podcasters to promote the Vodacast feed and player to their audiences. The first feeds have been distributed off the Vodacast platform through show notes and the first native digital ads synced to audio ads have been successfully placed into the feed by Auddia's ad server. The company expects to add analytics and reporting into Vodacast in early Q3 2021 followed by the initial rollout of its dynamic subscription and on-demand payment capability called Flex Revenue which will begin to roll out in Q1 2022.
The Company plans to announce further podcast partnerships as they develop and report publicly on the first key metrics indicating consumer activity in the digital feed in late Q4 2021. Metrics from these early commercialization efforts will give the Company the information necessary to provide revenue guidance for the Vodacast product in 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.