The faidr listening experience shows significant improvement with the percentage of stations 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 Q3
BOULDER, CO / ACCESS CABLE / August 1, 2022 / Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) (“Auddia” or the “Company”), developer of a proprietary AI platform for radio and innovative podcast technologies that is reinventing the way consumers interact with the audio, announced today that it has applied its next-generation artificial intelligence algorithm to deliver an enhanced, commercial-free listening experience to 88% of radio stations within the faidr mobile app.
At the end of June, the company announced that it had made a major improvement to its core AI algorithm. (https://feeds.issuerdirect.com/news-release.html?newsid=8729838829485021) and had implemented the new advanced algorithm for the first time in about 10% of faidr stations. Auddia also announced its plans to apply its new AI algorithm to an additional 80% of stations by the end of July and the final 12% of stations by the end of Q3. The company has now achieved its goal of rolling out its advanced AI algorithm to 88% of stations by the end of July.
“Increasing the number of faidr stations using our state-of-the-art AI model from 10% to 88% is a huge step forward in improving the listener experience,” said Theo Romeo, chief marketing officer at Auddia. “This directly feeds into our current focus on optimizing usage metrics by improving the faidr experience and directly measuring the impact this has on our customers. In addition to rolling out our advanced algorithm to the remaining 12% of faidr stations by the end of the quarter, we will be announcing a number of additional enhancements, all of which we hope will improve the listening experience and optimize subscription conversion rates. ”
The Company reaffirms its plans to announce initial subscription conversion rates and revenue guidance for 2023 at the time of filing its Q3 10Q.
About Audia Inc.
Audia is reinventing the way consumers interact with audio through the development of 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 commercial-free, custom-added content, as well as podcasts with an interactive digital feed that supports deeper stories and brings digital revenue to podcasters. Both offerings target large and rapidly growing audiences with strong purchase intention. For more information visit: www.audia.com
East 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 on results, performance, prospects and future 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 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 revision 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 made with the Securities and Exchange Commission and Values. 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.
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