Auddia announces acceleration of user retention momentum into Q4

Auddia (AUUD) has accelerated its 30-day user retention metrics to 21% in October, far exceeding its internal goal of 10% and continuing its upward momentum from the summer as a result of its new product and marketing initiatives. Auddia has focused on growing its user retention for the past year through a steady cadence of product enhancements that included new ad-free podcast listening experiences, integrations into Apple CarPlay and Android Auto, as well as numerous UX improvements under its faidr 3.1 initiative. These efforts have resulted in compelling gains in 30-day retention, growing from 5% to over 20% over the past year. As the Company continues to add value to the listening experience, it expects continued success with retention, which serves as the baseline for conversions to the paid subscription tier. Executions to optimize the conversion of subscriptions from the free tier are starting this month with updated subscription conversion metrics and new revenue expected to be reported in the first quarter of 2025.