Auddia Announces Strategic Product Expansion With Cloud Based Artificial Intelligence and Natural Language Processing Offering

Proprietary AI and NLP Technology Used for Audio Stream Processing and Content Detection Being Ported to the Cloud

Cloud Infrastructure Brings Scale Required to Attract and Enable SaaS  Partnerships With Largest Audio Broadcasting and Publishing Companies, Enabling More Rapid Distribution of Auddia’s Technology 

BOULDER, CO, April 30, 2024 (GLOBE NEWSWIRE) -- via – (NASDAQ:AUUD) (NASDAQ:AUUDW) ("Auddia" or the "Company"), developer of a proprietary AI platform for audio and innovative technologies for podcasts that is reinventing how consumers engage with audio, today announced the launch of a strategic product expansion offering aimed at bringing their core, proprietary technologies to the cloud to enable massive scale processing of audio streams and audio content identification.

“With our core AI patent issued and other patents pending, we believe now is the time to extend our proprietary capabilities to the cloud where new audio content distribution opportunities are expected to be available,” said Michael Lawless, CEO of Auddia. “Today, we deploy our technologies to the smartphones of individual consumers which creates an enormous, high-value network of processors and results in the delivery of a completely differentiated audio experience for every person who uses our flagship mobile app, faidr.  Pursuing the use of cloud infrastructure for audio stream processing with our technology is expected to open new markets, create new partnerships including SaaS opportunities with broadcasters, and result in rapid distribution of our products and services.”

The new initiative leverages Auddia’s vast experience with AI and NLP which is today used to process audio, primarily to identify the type of content being played.  Once content is identified by type, such as music, advertising or talk, Auddia can deliver a highly differentiated listening experience for consumers by including or excluding specific types of content and mixing preferred content into the user’s listening experience. 

“Auddia has had positive, long-term relationships with radio broadcasting companies, podcasting companies and key parties in the music industry,” said Jeff Thramann, Executive Chairman of Auddia. “We believe that our ability to extend our technology into the cloud will allow us to deliver new products and services to these audio industry groups.  We see tremendous opportunity here with the potential for larger scale deployments that can include the introduction of new economics and SaaS offerings, all done in partnership with key industries.” 

About Auddia Inc.

Auddia, through its proprietary AI platforms for audio is reinventing how consumers engage with AM/FM radio, podcasts, music, and other audio content. Auddia’s flagship audio superapp, called faidr, brings three industry firsts to the audio-streaming landscape: subscription-based, ad-free listening on any AM/FM radio station; podcasts with interactive digital feeds that support deeper stories and create new revenue streams for podcasters; and a proprietary chat interface for music. faidr also delivers exclusive content and playlists, and showcases exciting new artists, hand-picked by curators and DJs. All differentiated offerings address large and rapidly growing audiences.

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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, 2023, 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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