Core Insights - Auddia Inc. has achieved a 30-day user retention rate of 12%, surpassing its target of 10% and showing significant growth from 5% over the past year [1][2] - The company is now shifting its focus to optimizing subscription conversion metrics to drive high-margin revenue, with a goal of reaching a 12% subscription conversion rate in the coming months [2][3] User Retention and Product Development - The increase in user retention is attributed to product enhancements, including ad-free podcast listening experiences and user experience improvements under the faidr 3.1 initiative [2] - Auddia has maintained a subscription conversion rate of 5% throughout 2024 but has prioritized improving this metric only after achieving a minimum of 10% in 30-day retention [3] Future Initiatives and Revenue Generation - The company plans to remove friction from the paywall process and engage in tests to optimize the timing and frequency of paywall views to enhance subscription conversion [3] - With a cost per install at or below $1.80 and a focus on revenue generation, Auddia is transitioning from product development to revenue generation strategies [3] Market Position and Strategy - Auddia aims to attract a large audience of US consumers and eventually international users by offering a differentiated and user-friendly product in the audio streaming market [4] - The company's flagship product, faidr, offers subscription-based, ad-free listening on AM/FM radio stations and interactive podcasts, addressing a rapidly growing audience with strong purchase intent [5]
Auddia Announces Higher Than Expected Success in User Retention and Shifts Focus to Optimizing Subscription Conversions