Company Overview
Autio is a pioneering audio entertainment company based in Santa Barbara, California, specializing in location-based audio storytelling. Established in 2017 and officially launched in 2020, Autio seamlessly melds technology and storytelling to enhance travel experiences. Co-founded by Kevin Costner, Woody Sears, and Bill Werlin, the company aims to enrich travel journeys through captivating audio narratives.
Key Offerings
Autio's primary product is a mobile application available on both iOS and Android devices. This app hosts over 23,000 location-based audio stories that highlight historical, cultural, and natural landmarks, enriching travelers' experiences with contextually relevant narratives. The audio stories are voiced by famous personalities, including Kevin Costner, John Lithgow, and Phil Jackson, providing users with an engaging and immersive listening experience. With functionalities like GPS-synced storytelling and offline access, the app offers a hands-free experience that has garnered a 4.9-star rating from users.
Founding Team and Leadership
- Woody Sears: Co-Founder and CEO, recognized for his innovation and successful track record in startups.
- Bill Werlin: Co-Founder, leads story development and production.
- Kevin Costner: Co-Founder, instrumental in including diverse cultural narratives.
- Kevin Norris: Chief Product Officer, oversees product strategy and development.
- Bryce Shawcross: Creative Director, focuses on creative and visual elements.
- Frank Travieso: Senior iOS Developer, part of the pivotal app development team.
Recent Developments and Strategic Moves
In 2023, Autio secured a significant $5.9 million investment led by iHeartMedia, aiming to expand and enhance its storytelling platform. The company has introduced features like Playlists for thematic story exploration and has commenced international expansion into Ireland in collaboration with JetBlue. Autio appeared on Shark Tank, with its valuation estimated at $20 million, yet chose not to accept external offers.
Financial and Market Position
Autio has accrued over $9.1 million in funding from investors such as Kern Venture Group, Blue 9 Capital, and Seraph Group. The company sees an estimated annual revenue of $2.9 million, supported by a subscription-based model. Currently, Autio employs 28 people, although experiencing a slight decrease in employee growth of -7% last year, with a revenue per employee estimated at $102,500.
Strategic Advisory and Partnerships
Autio leverages the expertise of advisors like Eric Ries, author of "The Lean Startup," and prominent figures from NextGen Venture Partners and AAA Washington, driving innovation and scaling operational capabilities effectively.
Competitive Landscape
Autio competes in the digital storytelling and travel sector against:
- Exclusive Artists, leading with $18.5 million in revenue and 90 employees.
- Atlas Obscura, specializing in unique travel and storytelling experiences.
- MIrror Films, a smaller competitor in the niche audio market.
- GSN, notable for its significant market presence with higher revenues.
Market Position and Growth
Autio operates adeptly at the junction of digital storytelling and travel, employing robust funding to amplify its offerings. Despite strong competition, Autio's dedication to high-quality, localized audio content meets consumer demands for immersive travel narratives, supporting its competitive edge in the industry.
Autio's integration of innovative technology, robust leadership, and strategic investments position it as a dynamic leader in the travel-based audio entertainment sector, poised to capitalize on growing demands for creative travel experiences.
