Partnership with Sounds Profitable will support a renewed focus on SaaS and integration partnerships for Auddia’s podcast technology
Auddia continues discussions with podcast publishers, offering improved economics through subscription
BOULDER, CO, March 12, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) (“Auddia” or the “Company”), a proprietary AI platform for audio identification and classification and related technologies, reinventing how consumers engage with AM/FM radio, podcasts, and other audio content, today announced a partnership with Sounds Profitable, a leading research and advocacy firm in podcasting.
“We’re delighted to kick off this partnership,” said Michael Lawless, CEO of Auddia. “While we were developing our latest AI and Natural Language Processing (NLP) technologies aimed at podcasting audio, it became clear that the opportunities to integrate this tech into other platforms outweighed the benefits of simply launching the feature in a beta trial within the faidr app. We are prioritizing this new integration initiative, and partners like Sounds Profitable are going to be key to its success.”
Auddia’s new technologies, when applied to podcasting audio, allow for the identification of different segments or “chapters” in a podcast episode. This can be done in real-time on the listener’s mobile device. When segments are identified in advance, such as an ad break, listeners can be given controls which let them more easily jump forward through the episode. This technology will be added to the faidr mobile app on partnering podcasts, but it can also be offered to 3rd parties such as podcasting app developers, or even analytics platforms for advertising monitoring, detection and reporting. These integration opportunities are now a higher priority for the Company.
The partnership with Sounds Profitable is directly tied to the new integration initiative and part of Auddia’s continued investment in the podcast industry, centered on its Enhanced Podcasts features, which include segment-identification and ad-avoidance technology, new and more efficient monetization opportunities for podcasts and networks, supplemental content, analytics, and social/interactive functionality. The Company’s goals for the Enhanced Podcasts offering are to provide better economics for podcasters; more customization and control for users; and superior data and transparency for publishers.
“The partners who make up Sounds Profitable are leaders in both technology and content, driving our industry forward today, and those we believe are poised to do so for years to come,” said Bryan Barletta, Founder and Partner of Sounds Profitable. “We know that increased monetization is key to growing podcasting. While we’ve made great strides in what this ecosystem can do for creators and listeners, we also need more champions willing to experiment. I’m excited to partner with Auddia, because that’s their goal, to challenge that difficult part of podcasting.”
In November of 2023, The Company announced its intentions to launch a subscription-based ad-free podcast offering. Since that announcement, the Company has been working with podcasters and other industry leaders on potential SaaS and API offerings which could distribute and integrate Auddia’s technologies across a wide range of platforms.
Although Auddia still plans to offer some podcasts completely ad-free within faidr and is in talks with podcast networks to do so, the Company has decided to prioritize the larger scale SaaS and API integration applications of its technology. This strategy allows Auddia to leverage its completed AI and NLP technologies for the podcasting industry at a much grander scale.
“The technology we’ve developed that identifies different segments of a podcast episode, including ad breaks, is truly remarkable, and will provide listeners with even more control over their listening experience,” said Theo Romeo, Auddia’s Chief Product Marketing Officer. “We’re excited to share that story and the far more efficient economics that can be offered to potential partners in the podcasting space.”
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
About Sounds Profitable
Sounds Profitable is a collection of media properties — a newsletter, a podcast, and much more — that covers both strategic and tactical changes to the business of podcasting. Our primary goal with all the media we produce is to educate and empower the podcasting industry at all levels. Our aim is to provide insightful content about all aspects of the industry, including cutting-edge research, guides and articles, unmissable events, peerless advisory services and much more. For more information, visit www.soundsprofitable.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, President
PCG Advisory, Inc.
ksmith@pcgadvisory.com
www.pcgadvisory.com
