Benzinga | Mar 18, 2021 07:19AM EDT

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

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.