Auddia Announces Commercial Free Podcasting Enabled by Proprietary New AI Technology to be Launched in the faidr App on January 15
November 27 2023 - 8:00AM
via NewMediaWire --
Auddia Inc. (NASDAQ:AUUD)
(NASDAQ:AUUDW) ("Auddia" or the "Company"), developer of a
proprietary AI platform for audio identification and classification
and related technologies that is reinventing how consumers engage
with audio, announced today that it is deploying its new
commercial-free podcasting technology into the faidr mobile
application on January 15, 2024.
In June of 2023, the Company announced that its engineers had
successfully combined Natural Language Processing (NLP) and its
proprietary AI audio-classification algorithm to create a new model
that could be applied to podcasts. The Company has since completed
internal R&D and proof-of-concept projects and successfully
applied this model to podcasting to deliver a commercial-free
experience for users.
“This first-of-its-kind feature has been in the works for some
time, and we’re very excited to bring it to faidr users in January
of next year,” said Auddia’s CEO Michael Lawless. “It’s important
that we can extend our commercial-free offerings into more content
categories, and podcasts are a perfect fit alongside our existing
ad-free AM/FM offering.”
The Company will launch the feature in the faidr app on January
15, with approximately 50,000 episodes of commercial-free podcasts
available, representing the top 200 most popular shows. The ability
to listen to ad-free podcasts will be available to all users within
their free-trial period and to subscribers at no additional charge
on top of the current $5.99 per month price through Q1 2024. At
that point, the feature will have an up-charge associated with it
for subscribers. Eventually, the Company will give users the choice
between bundling premium AM/FM with ad-free podcasting or selecting
a la carte.
In addition to commercial-free listening of the pre-selected
shows, users will be able to manually request additional shows and
episodes for future commercial-free listening. In subsequent
releases, this process will be streamlined and automated for
users.
Based on the approach Auddia has engineered, which combines NLP
and AI, the process of removing commercials from episodes results
in the creation of episode transcripts which will be made available
to users for all commercial free episodes. In future releases, the
user will enjoy a more dynamic and interactive episode-transcript
experience, for example, podcast listeners can search transcripts
for keywords and jump to those sections in the audio.
“We think this will be a game changer for podcast listeners,”
said Theo Romeo, Auddia’s Chief Product Marketing Officer. “Not
only will our users benefit from these ground-breaking features,
but we believe the economics of our approach and the many ways in
which we can partner with podcasters, networks and even other
listening apps will provide a much-needed alternative source of
revenue for the podcasting world alongside traditional advertising
channels.”
Auddia is actively considering ways to incorporate the digital
content feed technology from its Vodacast app into future versions
of faidr to further differentiate its podcast engagement experience
over its competitors.
The Company is currently working to bring the new
commercial-free podcast offering to both operating systems of the
faidr app, and will likely launch in iOS first, targeting a January
15, 2024 release. The Android product will launch shortly after.
Distributing the proprietary technology to other podcasting mobile
apps and platforms is also on the roadmap.
About Auddia Inc.
Auddia, through its proprietary AI platform for audio
identification and classification and related technologies, is
reinventing how consumers engage with AM/FM radio, podcasts, and
other audio content. Auddia’s flagship audio superapp, called
faidr, brings two industry firsts to the audio-streaming landscape:
subscription-based, ad-free listening on any AM/FM radio station
and podcasts with interactive digital feeds that support deeper
stories and open untapped revenue streams to podcasters. faidr also
delivers exclusive content and playlists, and showcases exciting
new artists, hand-picked by curators and DJs. Both differentiated
offerings address large and rapidly growing audiences with strong
purchase intent. For more information,
visit: www.auddia.com
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934 about the Company's current
expectations about future results, performance, prospects and
opportunities. Statements that are not historical facts, such as
"anticipates," "believes" and "expects" or similar expressions, are
forward-looking statements. These forward-looking statements are
based on the current plans and expectations of management and are
subject to a number of uncertainties and risks that could
significantly affect the Company's current plans and expectations,
as well as future results of operations and financial condition.
These and other risks and uncertainties are discussed more fully in
our filings with the Securities and Exchange Commission. Readers
are encouraged to review the section titled "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended December
31, 2022, as well as other disclosures contained in the Annual
Report and subsequent filings made with the Securities and Exchange
Commission. Forward-looking statements contained in this
announcement are made as of this date and the Company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Relations:Kirin Smith, PresidentPCG
Advisory, Inc.ksmith@pcgadvisory.comwww.pcgadvisory.com
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