Not all pandemic trends have survived, but one that certainly has is America’s love of podcasts and streamable radio. The ability to produce and upload new content from the comfort of your home lent itself well to the lockdown. Now two companies that enjoyed this trend are going to be forming a partnership. Auddia (NASDAQ:AUUD) is classified as a software developer, but as its name implies, it’s primarily concerned with audio, specifically allowing customers to access their favorite radio stations through a mobile app. Today saw AUUD stock begin to rise after Auddia announced it would partner with the Bleav Podcast Network.
What’s Happening With AUUD Stock
Since news of the partnerships broke this morning, AUUD stock has been rising.
Shares climbed as much as 20% in the pre-market session. Although AUUD has cooled off since then, shares are still up more than 5% as of this writing. This comes on the heels of a difficult season for Auddia, which is down by 4% for the week and more than 25% for the month. With that in mind, this new may be just what the stock needs to turn around.
Why It Matters
Bleav (pronounced believe) bills itself as the No. 1 podcast network for professionals, specifically professionals concerned with the world of sports. Although it was founded with a focus on Los Angeles sports teams, the network has quickly grown and now boasts the ability to provide listeners with an “individual show and athlete host” for every team in the city, both professional and collegiate. It has since expanded in other cities such as Cincinnati, Ohio, and San Francisco, California, and seems focused on continuing these efforts.
Auddia CEO Michael Lawless notes that the addition of partners like Bleav will prove “integral to bringing deeper, more substantive content to existing and new users.”
Reports indicate that the partnership will begin with Bleav selecting six podcasts, creating new digital content for each new episode that is produced. Additionally, podcast hosts will include mentions of supplementary content in their broadcasts.
It’s clear that a partnership like this will certain help Auddia expand its reach, particularly into the popular and ever-expanding market of sports podcasts. Bleav’s content can be found on many popular venues such as iTunes, Stitcher, Tunein, Google Play, Spotify, Luminary and iHeart.
As Lawless noted, this year the company has seen 90% of its user interactions driven by its digital content feed, leading mobile app downloads to increase by 230%.
What It Means
While it still trades at low levels, this partnership has earned AUUD stock a ranking as a “penny stock to watch.”
It certainly belongs on this list. Podcasts have retained popularity through turbulent times, likely due to the fact that they allow listeners to multitask. Sports podcasts have a particular advantage as they deal with a topic that Americans were greatly missing during the pandemic. Now that live sports are back, interest in this realm is stronger than ever.
This type of partnership provides a clear advantage for both companies. Combining Auddia’s proprietary AI platform with Bleav’s reach could send AUUD stock to new heights in 2022.
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On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.