24/7 Market News- Auddia Launches faidr 3.1 With New AI Functionality

August 20, 2024

DENVER, Colo., Aug 20, 2024 (247marketnews.com)- Auddia (NASDAQ: AUUD) launched its faidr 3.1 with improvements that enhance listener experience, provides users with more control, and other benefits to drive enhanced user metrics and support increased subscription revenue.

Jeff Thramann, Executive Chairman of Auddia, stated, “The overarching goal of Auddia since launching faidr has been to continuously improve the app and its capabilities to drive towards user metrics that provide a favorable return on advertising spend. We have known for some time based on our cost to secure an install of faidr on the free tier that consumers respond very positively to the message of listening to AM/FM radio streams without commercials. To obtain the level of growth that transitions this consumer interest into meaningful revenue, the Company has been focused on adding new capabilities and more value to faidr to convert this consumer interest into retained users at rates that can drive significant revenue from subscribers.”

These latest features allow faidr users to have more intelligent control, including skipping entire chapters or ad breaks with a single press of the forward control, or automatically avoid ads through a subscription tier that shares revenue with the podcast creator.

Auddia’s Chief Product and Marketing Officer, Theo Romeo, commented, “We are excited to see how consumers respond to the addition of Forward+ and Seamless, as well as the addition of the full suite of faidr 3.1 initiatives. Our recent and upcoming additions are all aimed at improving retention such that we can confidently expand the user base on the free tier so we have access to a much larger audience for converting free users to subscribers. No other platform can give consumers access to commercial free AM/FM streaming and podcasting in the same app. As we extend faidr 3.1 initiatives from user experience improvements to more convenient automobile access through formal Android Auto and Apple CarPlay integrations, and expansion into other platforms such as desktop and home control systems, we expect to see continual improvements in user metrics that form the basis for driving meaningful subscription revenue.”

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