BOULDER, CO, Sept. 03, 2024 (GLOBE NEWSWIRE) -- More Than 90% of New Vehicles Now Offer Apple CarPlay or Android Auto and Will Have Access to faidr’s AI Technology
When Apple CarPlay or Android Auto are Available More Than 50% of All Audio Listening is to AM/FM and Podcasts
{{DATELINECITY_DATE_GLOBENEWSWIRE_BUG} 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 it recently launched both Apple CarPlay and Android Auto interfaces for its faidr mobile application. These interfaces allow consumers to mirror their smartphone entertainment options on the screen of their vehicle’s infotainment system.
Apple CarPlay and Android Auto have grown tremendously since their introduction with a report from Wards Intelligence saying more than 90% of new vehicles as of mid-2023 had the systems, with many customers preferring them over a vehicle’s native infotainment software. A recent McKinsey & Co study revealed that in the U.S., 25% of EV buyers and 38% of combustion car buyers said they are not interested in purchasing a vehicle if it does not have smartphone mirroring.
According to the RAB when Apple CarPlay or Android Auto are available to a consumer, listening to AM/FM radio is the leading choice of consumers at 46% of time spent listening. The next most popular option is SXM with 19% of time spent listening and music player streaming closely behind at 18%.
“Although our customers have been able to listen to faidr in the car through Bluetooth, the automatic connection and hands-free interface of accessing phone controls through the dash is easier, more convenient, and safer when performed through smartphone mirroring technologies like Apple CarPlay and Android Auto,” said Michael Lawless, Auddia’s CEO. “As we continue to execute our plan of delivering more value to faidr listening this includes integrating faidr into more platforms to give our users more places to enjoy our differentiated listening experiences. This integration into Apple CarPlay and Android Auto gives us far more reach within the US radio streaming space than we had with just our smartphone integration.”
In addition to providing access to Apple CarPlay and Android Auto, Auddia plans to pursue direct integrations into vehicle infotainment systems to access consumers in vehicles not planning to support smartphone mirroring technologies.
As part of its growth strategy, in addition to expanding reach within the automotive environment, where the majority of AM/FM content is consumed, the Company plans to expand listening options to smart speakers, desktop, home entertainment systems, and other platforms where consumers demonstrate their desire to listen to audio.
“Auddia is executing on a consistent two-pronged strategy to drive growth. As we have demonstrated since the launch of faidr, the first part of our strategy is to drive differentiated audio listening experiences like ad free AM/FM radio and podcasting listening options. The second part of the strategy is to make our unique listening experiences available wherever the consumer chooses to listen. As we execute both parts of this strategy we expect to see increasing numbers of users coming to faidr at ever lower customer acquisition costs resulting in an increasing rate of subscription conversions and associated revenue,” said Jeff Thramann, Executive Chairman. “Expect to see a steady stream of catalysts coming from the team that both enhance the faidr listening experience and expand the environments in which our customers can enjoy our differentiated content.”
In another industry first, Auddia expects to announce an AI-assisted music-only AM/FM offering in Q4 that will give consumers the choice of listening to their favorite stations without ads or DJs, only music.
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
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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