Audidia engineers successfully combined natural language processing and the company’s AI audio classification algorithm to create a new AI model
The new model can be applied to podcasts to offer ad-free listening in exchange for a micropayment shared with creators
BOULDER, CO, June 27, 2023 (GLOBE NEWSWIRE) — via NewMediaWire Audidia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) (“Auddia” or the “Company”), developer of a proprietary AI platform for audio and innovative podcast technologies that is reinventing the way consumers engage with audio, today announced that it has successfully combined its AI algorithm with natural language processing into a new audio classification model that can be applied to podcasts to offer ad-free listening.
Auddia launched its audio superapp faidr in February of 2022 and recently released faidr 3.0, which adds podcasts and an offering of exclusive content under the faidrRadio brand. The app uses Auddia’s proprietary AI-based audio classification algorithm to deliver commercial-free AM/FM listening. The new AI model, when fully implemented, is expected to be added to faidr to deliver ad-free podcasts.
“We’ve conducted basic research on natural language processing and explored how NLP can be combined with our core AI technology for audio content analysis,” said Michael Lawless, CEO of Auddia. In our current stage of development, the ability to deliver ad-free podcasts is a clear application and can be done within the faidr app, as a SaaS offering to podcast networks, or even as an integrated solution for other podcasting apps.
The Company is evaluating applications for its new ad-free podcast model and will announce plans to launch it later this year.
Audidia plans to launch the faidr 3.0 product on Android early in the third quarter. iOS users can visit https://apps.apple.com/us/app/faidr/id1567629951 to download the faidr 3.0 superapp.
Visit faidr.com for more information.
About Audia Inc.
Auddia, through its proprietary AI platform for audio identification and classification and related technologies, is reinventing the way consumers interact 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 to any AM/FM radio station, and podcasts with interactive digital feeds that support deeper stories and open streams. of untapped revenue to podcasters. faidr also offers exclusive content and playlists and showcases exciting new artists, hand-picked by curators and DJs. Both differentiated offerings target a large and rapidly growing audience with strong purchase intent. For more information, please visit: www.auddia.com
Forward-Looking Statements
This news release contains forward-looking statements pursuant to 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 regarding future results, performance, prospects and opportunities. Statements that are not historical facts, such as “anticipates,” “believes,” and “expects,” or similar phrases, are forward-looking statements. These forward-looking statements are based on management’s current plans and expectations and are subject to a number of uncertainties and risks that could materially 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 entitled “Risk Factors” in the Company’s annual report on Form 10-K for the year ended December 31, 2022, as well as other information contained in the annual report and subsequent filings with the Securities and Exchange Commission. The 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 statement, whether as a result of new information, future events or otherwise.
Investor Relations:
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PCG Advisory, Inc.
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