Auddia Announces Commercial Free Podcasting Enabled by Proprietary New AI Technology to be Launched in the faidr App on January 15
- Auddia Inc. is deploying its new commercial-free podcasting technology into the faidr mobile application, offering ad-free listening to approximately 50,000 episodes of the top 200 most popular shows, representing a significant revenue opportunity for the company.
- The AI platform developer successfully combined Natural Language Processing (NLP) and its proprietary AI audio-classification algorithm to create a new model that could be applied to podcasts, providing a unique and innovative feature for users.
- The company plans to offer ad-free podcast listening to users within their free-trial period and to subscribers at no additional charge through Q1 2024, with potential future options for bundling premium AM/FM with ad-free podcasting or selecting a la carte.
- The up-charge associated with the ad-free podcast feature for subscribers after Q1 2024 might lead to potential backlash from users, impacting customer retention and satisfaction.
- The delay in launching the feature for Android users after the iOS release might result in a competitive disadvantage against other podcasting apps that offer similar ad-free features across both operating systems.
faidr subscription users will be able to listen to podcast episodes without any commercial interruptions.
AI-ad-removal requires zero action from podcasters while introducing new high margin subscription revenue.
200 top podcasts will be available for ad-free listening upon launch, representing upwards of 50,000 episodes.
BOULDER, CO, Nov. 27, 2023 (GLOBE NEWSWIRE) -- 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
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.
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FAQ
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