News and research before you hear about it on CNBC and others. Claim your 1 week free trial StreetInsider Premium here.
Faidr listening experience shows significant improvement, with the percentage of broadcasters using the advanced AI algorithm increasing from 10% to 88%
On track to apply advanced AI to the remaining 12% of stations by the end of the year Q3
BOULDER, CO / ACCESSWIRE / Aug 1, 2022 / Auddia Inc. (NASDAQ: AUUD) (NASDAQ: AUUDW) (“Auddia” or the “Company”), developers of a proprietary AI platform for radio and innovative technologies for podcasts that transform the way consumers interact with audio, reinvents, announced today that it has applied its next-generation AI algorithm to bring an enhanced, ad-free listening experience to 88% of radio stations on the faidr mobile app.
In late June, the company announced that it had significantly improved its core AI algorithm (https://feeds.issuerdirect.com/news-release.html?newsid=8729838829485021) and had deployed the new advanced algorithm in about 10% of faidr stations for the first time. Audidia also announced its plans to roll out its new AI algorithm to an additional 80% of broadcasters by the end of July and the final 12% of broadcasters by the end of the third quarter. The company has now achieved its goal of deploying its advanced AI algorithm to 88% of stations by the end of July.
“Increasing the number of faidr stations from 10% to 88% with our latest generation AI model is a huge step forward in improving the listening experience,” said Theo Romeo, Audidia Marketing Director. “This feeds directly into our current focus on optimizing usage metrics by improving the faidr experience and directly measuring the impact this is having on our customers. We have a number of additional enhancements that we will be announcing which we all expect will improve the listening experience and optimize subscription conversion rates.”
The Company reiterates its plans to announce initial subscription conversion rates and 2023 revenue guidance at the time of Q10 filing for the third quarter.
About Audia Inc.
Audidia is reinventing the way consumers interact with audio by building a proprietary AI platform for audio and innovative technologies for podcasts. Auddia offers two industry firsts – the ability to listen to any AM/FM radio station with additional personalized content and no ads, and Podcasts with an interactive digital feed that supports deeper stories and brings digital revenue to podcasters. Both offerings target a large and rapidly growing audience with strong purchase intent. For more information, visit: www.auddia.com
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 as to 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 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 its future results of operations and financial condition. These and other risks and uncertainties are discussed in more detail 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, 2021, as well as other disclosures contained in the Annual Report and subsequent filings with the Securities and Exchange Commission. Forward-looking statements contained in this release 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.
Kirin Smith, President
PCG Advisory, Inc.
SOURCE: Audia Inc.
View source version on accesswire.com: