6th Mar 2015 08:34
LONDON (Alliance News) - Audioboom Group PLC on Friday said it has signed a deal with Aupeo GmBH, the in-vehicle audio platform company.
Under the deal, Audioboom will provide audio content to Aupeo's 'Personal Radio By Aupeo!' product, which allows drivers to create a personal radio service.
Audioboom will generate revenue-sharing income based on the installed base which include the Audioboom "stations", as well as a 50% share of advertising revenue generated on clips listened to for over 30 seconds. In the short-term revenue expectations are likely to be modest but Audioboom expects this to increase in the future.
"We're absolutely delighted to work with Aupeo and to be one of their key collaborators world wide. We consider the company to be one of the most innovative in the automotive infotainment space, which is a major focus for us over the coming year as we continue to grow our global userbase of listeners," said Audioboom Chief Executive Rob Proctor.
Audioboom shares were down 0.2% to 8.98 pence on Friday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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