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LiveOne Launches Wine Brand With R&B Hitmaker Jeremih and Acclaimed Winemaker Russell Bevan
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
LiveOne (NASDAQ: LVO) has launched a new division, LiveOne Brands, focusing on celebrity-backed and branded products, particularly a white wine collaboration with R&B artist Jeremih and renowned winemaker Russell Bevan. This initiative aims to tap into the growing celebrity wine market, projected to generate substantial revenue. The new wine product is designed for a wide audience and is expected to launch in 2023. CEO Robert Ellin highlighted the potential to disrupt both the music and wine industries through this venture, enhancing artist relationships and diversifying revenue streams.
Positive
Launch of LiveOne Brands diversifies business model.
Partnership with Jeremih and Russell Bevan taps into a growing market.
Celebrity-backed products may generate significant revenue.
Negative
None.
Expands Partnerships With Its Creators to Launch Celebrity-backed and Branded Products
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According to Nielsen, Off-Premise Sales of White Wine for the 52-Week Period Ended March 6, 2021 Totaled Over $9.1 Billion
LOS ANGELES--(BUSINESS WIRE)--
LiveOne (Nasdaq: LVO), an award-winning creator-first, music, entertainment and technology platform, announced today that it has partnered with megastars from the music and wine industries to launch LiveOne Brands, a new division featuring celebrity-backed and branded products. The new division brings together R&B hitmaker Jeremih and acclaimed winemaker Russell Bevan with LiveOne’s global community to launch LiveOne Brands’ first-ever white wine product line. The venture will further diversify LiveOne’s business model and expand into the burgeoning multi-billion dollar celebrity wine and spirits category.
LiveOne Launches Wine Brand With R&B Hitmaker Jeremih and Acclaimed Winemaker Russell Bevan (Photo: Business Wire)
The new brand will be a unique white wine that targets a diverse audience at an accessible price point. LiveOne and Jeremih are working with wine industry experts including Bevan, who has earned over 15 100-point wines - with an expected launch in 2023. Additionally, alongside Jeremih, LiveOne’s advisor to senior management, Angelica Camacho, CEO of Feels Right Enterprises, will partner on the brand as well. During her time as a music executive, Angelica has worked alongside A-list talent and their teams - for artists such as Dua Lipa, Hailee Steinfeld and John Legend.
“We are excited to launch our newest venture LiveOne Brands,” said Robert Ellin, CEO and Chairman of LiveOne. “With celebrity spirits seeing exponential growth year-over-year, we see an opportunity to disrupt the music and wine industry. Expanding our licensing division will also strengthen our artist and industry relationships with additional commerce and specialized consumer product revenues. We are thrilled to collaborate with Jeremih and Russell Bevan to expand this innovative offering to our fans.”
"People might think I’m a tequila or Hennessy drinker but don’t let the media fool you. I’ve always been a white wine kinda guy,” said Jeremih. “Watching my friends launch their own liquors got me thinking; why am I not doing that? So that’s where LiveOne came in. They linked me with legendary winemaker Russell Bevan, and when two legends link up it’s a recipe for success. Now I got a wine that’s perfect for the crib, the club, the studio - anywhere you wanna get a little loose. I’m excited to expand my entrepreneurial endeavors and showcase my creativity in a whole new way.”
“I'm incredibly fortunate to partner with Jeremih and LiveOne on a product we are all truly excited about,'' said Angelica Camacho, CEO of Feels Right Enterprises. “As a music executive and entrepreneur, I have always encouraged creatives to build out their businesses and seek ownership; this partnership provides Jeremih with exactly that opportunity!”
Jeremy P. Felton, known professionally as Jeremih, is a Grammy-nominated singer, songwriter, multi-instrumentalist, and record producer from Chicago, Illinois. In 2009, Jeremih stepped onto the scene with his debut single “Birthday Sex”, which topped the charts on US Billboard Hot 100. Jeremih’s career is marked by 21 Billboard Hot 100 hits, four Billboard Top 10 hits, and multiple number one runs on the Rhythmic and Urban charts.
Throughout his career, Jeremih has accumulated dozens of award nominations and wins, including a 2016 Grammy nomination for Best R&B Performance, and the winning title for iHeartRadio’s 2015 Hip Hop/R&B Song of the Year. He is currently working on his next album which is set to release soon.
LiveOne continues to expand its relationship with Jeremih and will utilize its platform and its network of podcasts and streaming services to be a defining part of the growth and marketing for LiveOne Brands. LiveOne will also work with artists and celebrities to manufacture custom products and licensing partnerships.
About LiveOne, Inc.
Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) (the "Company") is an award-winning, creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. The Company was awarded Best Live Moment by Digiday for its “Social Gloves” PPV Event, and has been a finalist for 8 more awards, including Best Live Event, Best Virtual Event, Best Overall Social Media Excellence, and Best Original Programming from Cynopsis and Digiday. As of September 8, 2022, the Company has accrued a paid and free ad-supported membership base of 2.5 million**, streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, over 300 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and created a valuable connection between fans, brands, and bands. The Company's wholly-owned subsidiaries include Slacker Radio, React Presents, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, LiveXLive, PPVOne and PodcastOne, which generates more than 2.48 billion downloads per year and 300+ episodes distributed per week across its stable of top-rated podcasts. LiveOne is available on iOS, Android, Roku, Apple TV, Amazon Fire, and through OTT, STIRR, and XUMO. For more information, visit www.liveone.com and follow us on Facebook, Instagram, TikTok, and Twitter at @liveone.
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the Company's reliance on one key customer for a substantial percentage of its revenue; the Company's ability to consummate any proposed financing, acquisition, spin-out, distribution or transaction, including the proposed spin-out of PodcastOne or its pay-per-view business, the timing of the closing of such proposed event, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all, or that the closing of any proposed financing, acquisition, spin-out, distribution or transaction will not occur or whether any such event will enhance shareholder value; PodcastOne's ability to list on a national exchange; the Company's ability to continue as a going concern; the Company's ability to attract, maintain and increase the number of its users and paid members; the Company identifying, acquiring, securing and developing content; the Company's intent to repurchase shares of its common stock from time to time under its announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; the Company's ability to maintain compliance with certain financial and other covenants; the Company successfully implementing its growth strategy, including relating to its technology platforms and applications; management's relationships with industry stakeholders; the effects of the global Covid-19 pandemic; uncertain and unfavorable outcomes in legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company's subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 29, 2022, Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2022, filed with the SEC on August 15, 2022, and in the Company's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
** Included in the total number of paid members for the reported periods are certain members which are the subject of a contractual dispute. LiveOne is currently not recognizing revenue related to these members.
LiveOne has launched LiveOne Brands, a new division focusing on celebrity-backed products, including a white wine collaboration with Jeremih and Russell Bevan.
What is the expected launch date for LiveOne's wine product?
The white wine product is expected to launch in 2023.
How does LiveOne plan to enhance its business model?
LiveOne aims to diversify its business model through partnerships and celebrity endorsements in the wine and spirits market.
What market trend is LiveOne capitalizing on with its new wine brand?
LiveOne is capitalizing on the growing celebrity wine and spirits market, which has shown exponential year-over-year growth.
Who are the key partners involved in LiveOne's new wine product?
Key partners include R&B artist Jeremih and acclaimed winemaker Russell Bevan.
