Auddia announced a better than expected initial subscription conversion rate of 10% on the iOS version of its flagship mobile app, faidr. In addition, faidrRadio, the Company’s exclusive content programming available in the iOS faidr app, has maintained 33% of the app’s total plays alongside traditional AM/FM radio. The Company had released its 2023 operating plan in November 2022, during its management update call. The original plan was to secure a 7% subscription conversion rate by the end of March 2023. Since launching subscriptions in the iOS app 45 days ago, users have been converting at a rate of 10%. "We are delighted about the user response we’ve seen in the iOS product," said Auddia’s CEO Michael Lawless. "Our goal of delivering premium, ad-free AM/FM alongside exclusive content is resonating nicely. Now that we’ve added podcasts to the iOS app, we feel confident we can maintain or exceed this subscription conversion rate on the product, which puts us ahead of where we need to be in iOS for our metric-inflection point we are targeting mid-year."
Published first on TheFly
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