LiveOne (Nasdaq: LVO) and PodcastOne (Nasdaq: PODC) Promote Ryan Carhart to Chief Financial Officer
LiveOne (Nasdaq: LVO) has promoted Ryan Carhart to Chief Financial Officer of LiveOne, PodcastOne (Nasdaq: PODC) and all their subsidiaries, effective February 19, 2025. According to CEO Robert Ellin, Carhart has already implemented measures expected to yield an additional $13 million in cost savings, bringing total anticipated cash savings to over $23 million.
Carhart has also played a key role in securing a new loan agreement with East West Bank after paying down $3.7 million of the bank's $7 million loan to LiveOne. Additionally, he has secured a Letter of Intent with a major commercial bank to refinance the remaining East West Bank debt and provide growth capital.
LiveOne is an award-winning, creator-first music, entertainment, and technology platform headquartered in Los Angeles. Its subsidiaries include Slacker, PodcastOne, PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify and Splitmind. PodcastOne has surpassed 3.9 billion total downloads with a community of 200 top podcasters and a distribution network reaching over 1 billion monthly impressions.
LiveOne (Nasdaq: LVO) ha promosso Ryan Carhart a Chief Financial Officer di LiveOne, PodcastOne (Nasdaq: PODC) e tutte le loro sussidiarie, con effetto dal 19 febbraio 2025. Secondo il CEO Robert Ellin, Carhart ha già implementato misure che si prevede porteranno a un risparmio aggiuntivo di 13 milioni di dollari, portando il totale dei risparmi di cassa previsti a oltre 23 milioni di dollari.
Carhart ha anche svolto un ruolo chiave nel garantire un nuovo accordo di prestito con East West Bank dopo aver ridotto il debito di 3,7 milioni di dollari sul prestito di 7 milioni di dollari della banca a LiveOne. Inoltre, ha ottenuto una Lettera di Intenti con una grande banca commerciale per rifinanziare il debito rimanente di East West Bank e fornire capitale per la crescita.
LiveOne è una piattaforma premiata, orientata ai creatori, per la musica, l'intrattenimento e la tecnologia, con sede a Los Angeles. Le sue sussidiarie includono Slacker, PodcastOne, PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify e Splitmind. PodcastOne ha superato 3,9 miliardi di download totali con una comunità di 200 top podcaster e una rete di distribuzione che raggiunge oltre 1 miliardo di impressioni mensili.
LiveOne (Nasdaq: LVO) ha promovido a Ryan Carhart como Director Financiero de LiveOne, PodcastOne (Nasdaq: PODC) y todas sus subsidiarias, con efecto a partir del 19 de febrero de 2025. Según el CEO Robert Ellin, Carhart ya ha implementado medidas que se espera generen un ahorro adicional de 13 millones de dólares, llevando el total de ahorros en efectivo anticipados a más de 23 millones de dólares.
Carhart también ha desempeñado un papel clave en asegurar un nuevo acuerdo de préstamo con East West Bank después de haber pagado 3,7 millones de dólares de los 7 millones de dólares del préstamo de la banca a LiveOne. Además, ha asegurado una Carta de Intención con un importante banco comercial para refinanciar la deuda restante de East West Bank y proporcionar capital para el crecimiento.
LiveOne es una plataforma galardonada, centrada en los creadores, de música, entretenimiento y tecnología con sede en Los Ángeles. Sus subsidiarias incluyen Slacker, PodcastOne, PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify y Splitmind. PodcastOne ha superado 3,9 mil millones de descargas totales con una comunidad de 200 podcasters destacados y una red de distribución que alcanza más de 1 mil millones de impresiones mensuales.
라이브원 (Nasdaq: LVO)는 라이브원, 팟캐스트원 (Nasdaq: PODC) 및 모든 자회사의 최고 재무 책임자로 라이언 카하트를 2025년 2월 19일부터 승진시켰습니다. CEO 로버트 엘린에 따르면, 카하트는 이미 1300만 달러의 추가 비용 절감을 가져올 것으로 예상되는 조치를 시행했습니다. 이를 통해 예상되는 총 현금 절감액은 2300만 달러를 초과하게 됩니다.
카하트는 또한 라이브원에 대한 은행의 700만 달러 대출 중 370만 달러를 상환한 후, 이스트 웨스트 뱅크와 새로운 대출 계약을 확보하는 데 중요한 역할을 했습니다. 또한, 그는 남은 이스트 웨스트 뱅크 부채를 재융자하고 성장 자본을 제공하기 위해 주요 상업 은행과 의향서를 확보했습니다.
라이브원은 로스앤젤레스에 본사를 둔 수상 경력에 빛나는 크리에이터 중심의 음악, 엔터테인먼트 및 기술 플랫폼입니다. 그 자회사로는 슬래커, 팟캐스트원, PPV원, CPS, 라이브엑스라이브, 데이원 뮤직 퍼블리싱, 드럼파이 및 스플릿마인드가 있습니다. 팟캐스트원은 39억 건 이상의 총 다운로드를 기록했으며, 200명의 주요 팟캐스터 커뮤니티와 월 10억 회 이상의 노출을 자랑하는 배급 네트워크를 보유하고 있습니다.
LiveOne (Nasdaq: LVO) a promu Ryan Carhart au poste de Directeur Financier de LiveOne, PodcastOne (Nasdaq: PODC) et de toutes leurs filiales, à compter du 19 février 2025. Selon le PDG Robert Ellin, Carhart a déjà mis en œuvre des mesures qui devraient générer des économies supplémentaires de 13 millions de dollars, portant le total des économies de liquidités anticipées à plus de 23 millions de dollars.
Carhart a également joué un rôle clé dans la sécurisation d'un nouvel accord de prêt avec East West Bank après avoir remboursé 3,7 millions de dollars du prêt de 7 millions de dollars de la banque à LiveOne. De plus, il a obtenu une Lettre d'Intention avec une grande banque commerciale pour refinancer la dette restante d'East West Bank et fournir du capital de croissance.
LiveOne est une plateforme primée, axée sur les créateurs, de musique, de divertissement et de technologie, dont le siège est à Los Angeles. Ses filiales incluent Slacker, PodcastOne, PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify et Splitmind. PodcastOne a dépassé 3,9 milliards de téléchargements au total avec une communauté de 200 podcasters de premier plan et un réseau de distribution atteignant plus de 1 milliard d'impressions mensuelles.
LiveOne (Nasdaq: LVO) hat Ryan Carhart zum Chief Financial Officer von LiveOne, PodcastOne (Nasdaq: PODC) und allen ihren Tochtergesellschaften befördert, mit Wirkung zum 19. Februar 2025. Laut CEO Robert Ellin hat Carhart bereits Maßnahmen umgesetzt, die voraussichtlich zu zusätzlichen Einsparungen von 13 Millionen Dollar führen werden, wodurch die insgesamt erwarteten Barersparnisse auf über 23 Millionen Dollar steigen.
Carhart spielte auch eine Schlüsselrolle bei der Sicherung eines neuen Darlehensvertrags mit der East West Bank, nachdem er 3,7 Millionen Dollar von dem 7 Millionen Dollar Darlehen der Bank an LiveOne zurückgezahlt hatte. Darüber hinaus hat er eine Absichtserklärung mit einer großen Geschäftsbank zur Refinanzierung der verbleibenden East West Bank Schulden und zur Bereitstellung von Wachstumskapital gesichert.
LiveOne ist eine preisgekrönte, creator-orientierte Musik-, Unterhaltungs- und Technologieplattform mit Sitz in Los Angeles. Zu den Tochtergesellschaften gehören Slacker, PodcastOne, PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify und Splitmind. PodcastOne hat insgesamt über 3,9 Milliarden Downloads mit einer Gemeinschaft von 200 Top-Podcastern und einem Vertriebsnetz, das über 1 Milliarde monatliche Impressionen erreicht, überschritten.
- Ryan Carhart's promotion to CFO expected to bring strong financial discipline
- Implementation of measures anticipated to yield $13M in additional cost savings
- Total cash savings expected to exceed $23M
- Paid down $3.7M of East West Bank's $7M loan
- Secured Letter of Intent with major commercial bank for refinancing remaining debt
- PodcastOne reached 3.9 billion total downloads with 200 top podcasters
- Company needed significant cost reductions, particularly at CPS subsidiary
- Still carrying remaining debt with East West Bank
- Requires additional growth capital to expand business
Insights
LiveOne's appointment of Ryan Carhart as CFO comes with substantial financial restructuring that significantly impacts the company's outlook. The announced $23 million in cost savings represents nearly 30% of LiveOne's $78 million market capitalization – a dramatic efficiency initiative that could fundamentally alter the company's financial trajectory.
The debt reduction of $3.7 million to East West Bank (representing over 50% of their outstanding $7 million loan) signals aggressive balance sheet improvement. This debt reduction, coupled with securing both a new loan agreement and a Letter of Intent with a major commercial bank for refinancing and growth capital, indicates a comprehensive financial restructuring strategy beyond simple cost-cutting.
Most revealing is the immediate implementation of $13 million in additional cost savings since Carhart's promotion, with significant reductions at CPS (Custom Personalization Solutions). This suggests:
- Previous inefficiencies in the company's cost structure that required urgent addressing
- A strategic pivot from growth-focused spending to operational efficiency
- Potential streamlining or downsizing of underperforming business segments
For context, LiveOne reported revenue of $29.5 million for the quarter ended December 31, 2024, with a net loss of $2.8 million. These cost savings could potentially bridge the gap to consistent profitability if successfully implemented without hampering revenue growth.
The emphasis on "focusing on profitability" in the announcement represents a significant shift in messaging from digital media companies that have historically prioritized user growth and revenue expansion over bottom-line results. This pivot aligns with broader market sentiment favoring companies with sustainable business models over speculative growth stories.
Investors should monitor several key metrics in upcoming quarters: 1) Whether cost reductions impact revenue growth or user acquisition, 2) Actual realization of projected savings, 3) Improvements in operating margins, and 4) Terms of the new financing arrangement, particularly interest rates and covenants that might constrain operations.
While these financial maneuvers appear positive, execution risk remains substantial, as aggressive cost-cutting can sometimes impair operational capabilities or growth potential if not carefully implemented.
- Expands Cost Savings via Restructuring to Over
$23 Million - Paid Down
$3.7 Million to East West Bank
LOS ANGELES, Feb. 25, 2025 (GLOBE NEWSWIRE) -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment, and technology platform, announced today Ryan Carhart's promotion to Chief Financial Officer of LiveOne, PodcastOne and all their subsidiaries, effective as of February 19, 2025. Robert Ellin, CEO of LiveOne, commented, "We're thrilled to promote Ryan to CFO. Ryan brings strong financial discipline, respected relationships with analysts, bankers, and our financial team, and a proven track record of effective bank relations. Since his promotion, Ryan has taken immediate action, implementing measures anticipated to result in additional
Mr. Ellin added, “Ryan has also played a key role in securing a new loan agreement with East West Bank after paying off
About LiveOne
Headquartered in Los Angeles, CA, LiveOne (Nasdaq: LVO) 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. LiveOne's subsidiaries include Slacker, PodcastOne (Nasdaq: PODC), PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify and Splitmind. LiveOne is available on iOS, Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV, and through STIRR's OTT applications. For more information, visit liveone.com and follow us on Facebook, Instagram, TikTok, YouTube and Twitter at @liveone. For more investor information, please visit ir.liveone.com.
About PodcastOne
PodcastOne (NASDAQ: PODC) is a leading podcast platform that provides creators and advertisers with a comprehensive 360-degree solution in sales, marketing, public relations, production, and distribution. PodcastOne has surpassed 3.9 billion total downloads with a community of 200 top podcasters, including Adam Carolla, Kaitlyn Bristowe, Jordan Harbinger, LadyGang, A&E's Cold Case Files, and Varnamtown. PodcastOne has built a distribution network reaching over 1 billion monthly impressions across all channels, including YouTube, Spotify, Apple Podcasts, and iHeartRadio. PodcastOne is also the parent company of PodcastOne Pro which offers fully customizable production packages for brands, professionals, or hobbyists. For more information, visit www.podcastone.com and follow us on Facebook, Instagram, YouTube, and X at @podcastone.
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: LiveOne’s reliance on its largest OEM customer for a substantial percentage of its revenue; LiveOne’s ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, the timing of the consummation of any such proposed event, including the risks that a condition to the consummation of any such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, merger, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; LiveOne’s ability to continue as a going concern; LiveOne’s ability to attract, maintain and increase the number of its users and paid members; LiveOne identifying, acquiring, securing and developing content; LiveOne’s intent to repurchase shares of its and/or PodcastOne’s common stock from time to time under LiveOne’s announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; LiveOne’s ability to maintain compliance with certain financial and other covenants; LiveOne successfully implementing its growth strategy, including relating to its technology platforms and applications; management’s relationships with industry stakeholders; LiveOne’s ability to extend and/or refinance its indebtedness and/or repay its indebtedness when due; uncertain and unfavorable outcomes in legal proceedings and/or LiveOne’s ability to pay any amounts due in connection with any such legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of LiveOne’s subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in LiveOne’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, filed with the U.S. Securities and Exchange Commission (the “SEC”) on July 1, 2024, Quarterly Report on Form 10-Q for the quarter ended December 31, 2024, filed with SEC on February 14, 2025, and in LiveOne’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and LiveOne disclaims any obligation to update these statements, except as may be required by law. LiveOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
LiveOne IR Contact:
Liviakis Financial Communications, Inc.
(415) 389-4670
john@liviakis.com
LiveOne Press Contact:
LiveOne
press@liveone.com
Follow LiveOne on social media: Facebook, Instagram, TikTok, YouTube, and Twitter at @liveone.
FAQ
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