Auddia Inc. said on Monday it has entered into a licensing agreement with AMG Corp to distribute digital radio releases through its platform. The partnership aims to enhance Auddia’s content library and broaden its reach in the digital audio market.
Under the terms of the deal, AMG Corp will provide exclusive or non-exclusive digital radio content to Auddia, which will be made available to the company’s users. Financial terms of the agreement were not disclosed.
Auddia’s shares were indicated higher in after-hours trading following the announcement. The company, which focuses on digital audio distribution, has been expanding its partnerships to strengthen its market position amid growing competition in the sector.
The agreement underscores the increasing demand for digital audio content and platforms, as consumers shift away from traditional radio formats. Auddia did not provide further details on the timeline for the content rollout or specific titles involved in the licensing deal.
