LiveOne (NASDAQ:LVO) and Slacker Radio Partner with Legible to Launch "Book of the Month" Program

Rhea-AI Summary

LiveOne (NASDAQ:LVO) and its subsidiary Slacker Radio have partnered with Legible to launch a 'Book of the Month' program. This collaboration will provide Slacker Radio's 4 million members with free access to a monthly audiobook, curated by Legible's experts. The initiative aims to tap into the global audiobook market, valued at $5B and projected to reach $42B by 2031.

The partnership enhances LiveOne's audio offerings, now encompassing music, podcasts, and audiobooks. Members will also gain exclusive previews of Legible's diverse audiobook catalog. This strategic move is expected to increase member engagement, retention, and attract new users to LiveOne's platform, positioning the company as a pioneer in integrating music and audiobooks in the digital entertainment landscape.

Positive

• Partnership with Legible expands LiveOne's audio offerings to include audiobooks
• Access to a free 'Book of the Month' audiobook for 4 million Slacker Radio members
• Tapping into the growing global audiobook market, projected to reach $42B by 2031
• Potential for increased member engagement and retention through diverse content offerings

Negative

• None.

Insights

Market Research Analyst

This partnership marks a strategic move for LiveOne, tapping into the rapidly expanding audiobook market. With the global audiobook sector projected to grow from $5 billion to $42 billion by 2031, this collaboration positions LVO at the forefront of a lucrative trend. By offering Slacker Radio's 4 million members access to Legible's audiobook content, LiveOne is diversifying its audio offerings and potentially increasing user engagement and retention. This could translate to improved customer lifetime value and reduced churn rates.

However, the impact on LiveOne's immediate financials remains unclear. While the partnership may attract new subscribers and boost engagement, the cost structure and revenue-sharing details are not disclosed. Investors should monitor future earnings reports for signs of increased subscriber growth or improved margins resulting from this initiative.

Tech Expert

LiveOne's integration of audiobooks into its Slacker Radio platform represents a significant technological advancement in content delivery. By seamlessly blending music, podcasts and now audiobooks, LVO is creating a more comprehensive and versatile audio ecosystem. This move aligns with the broader trend of content convergence in digital platforms, potentially giving LiveOne a competitive edge in user retention and engagement.

The technical implementation of this feature, including content delivery, user interface integration and personalization algorithms, will be important for its success. If executed well, this could set a new standard for audio streaming platforms. However, investors should be aware that such integrations can be complex and may require substantial backend development, potentially impacting short-term costs.

- Slacker Radio's 4 million members will have to access to new program

- Tapping into the booming global audiobook market, valued at $5B and projected to reach $42B by 2031

- LiveOne now boasts 3 pillars of audio: music, podcasts, and audiobooks

LOS ANGELES, Aug. 16, 2024 (GLOBE NEWSWIRE) -- LiveOne, Inc. (NASDAQ: LVO), a leader in digital broadcasting and personalized entertainment, is excited to announce a strategic collaboration with Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T), a premier digital reading and audiobook platform. This partnership is set to expand LiveOne’s Slacker Radio member base by offering enhanced value through exclusive access to Legible’s audiobook content.

Beginning in August, LiveOne’s Slacker Radio over 4 million members, will gain free access to a 'Book of the Month' audiobook, carefully curated by Legible’s team of experts. This initiative not only enriches the listening experience for Slacker Radio members but also seamlessly blends music with storytelling, creating a unique entertainment offering.

Bradley Konkol, Head of Slacker Radio for LiveOne, expressed his enthusiasm for the partnership: "At LiveOne, we're always looking for innovative ways to elevate our members' experience. Our collaboration with Legible introduces a fantastic mix of music and audiobooks, allowing our users to explore new content and enjoy a more diverse listening experience."

This collaboration is also aligned with LiveOne’s broader strategy to increase member engagement and retention. By offering a free audiobook each month and exclusive previews of Legible’s diverse audiobook catalog, LiveOne not only adds significant value to its membership but also fosters a deeper connection with its audience.

Key Benefits for LiveOne Members:

• Free 'Book of the Month' Audiobook: Each month, members will have access to a full-length audiobook, handpicked by Legible’s curators, at no additional cost.

• Exclusive Previews: Slacker Radio members can enjoy previews from a wide selection of audiobooks, allowing them to discover new authors and genres that align with their interests.

• Diverse Content: With a broad range of genres including fiction, non-fiction, mystery, and self-help, this partnership ensures that Slacker Radio members can enjoy a rich and varied audio experience.

In addition to enhancing member value, this collaboration positions LiveOne as a pioneer in the integration of music and audiobooks, driving increased engagement and attracting new members. By combining the strengths of both companies, this partnership is expected to contribute to LiveOne’s ongoing growth and success in the digital entertainment landscape.

About LiveOne and Slacker Radio Slacker Radio, a leading internet radio service owned by LiveOne, Inc., offers personalized music and entertainment streaming to millions of users. With expertly curated stations and customizable playlists, Slacker Radio delivers an unmatched listening experience.

About LiveOne, Inc. Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) is an award-winning, creator-first music, entertainment, and technology platform. The company delivers premium content worldwide through memberships, live, and virtual events. LiveOne’s subsidiaries include Slacker Radio and PodcastOne, which generate significant engagement across their platforms. LiveOne is available on multiple devices and platforms, providing a comprehensive entertainment experience for its global audience.

For more information about LiveOne, visit liveone.com.

About Legible Inc.

Legible is a mobile-centric global company specializing in eBooks and audiobook entertainment, boasting a market opportunity exceeding billions of dollars. Legible’s extensive partnerships encompass four of the Big 5 Publishers and the world's largest eBook distributor, enabling Legible to seamlessly deliver millions of eBooks and audiobooks, effectively transforming any smart device into a dynamic library and eBookstore. At the heart of Legible’s innovation lies its LibrarianAI, the world's pioneering AI-powered literary assistant, enhancing the reading experience. Legible’s publishing division is revolutionizing the industry by crafting proprietary AI-enriched multimedia books, setting new standards in literary engagement. Legible is at the forefront of reshaping the digital publishing landscape, committed to gaining a significant market share by providing innovative 21st-century publishing solutions and enriching global reading experiences. Please visit Legible.com and discover the place where eBooks come to life.

LiveOne IR Contact:
Liviakis Financial Communications, Inc.
(415) 389-4670
john@liviakis.com

Press Contact:
LiveOne
press@liveone.com

FAQ

What is LiveOne's new 'Book of the Month' program with Slacker Radio and Legible?

LiveOne's new 'Book of the Month' program offers Slacker Radio's 4 million members free access to a monthly audiobook curated by Legible's experts, expanding LiveOne's audio offerings to include music, podcasts, and audiobooks.

How many Slacker Radio members will benefit from LiveOne's (LVO) partnership with Legible?

Over 4 million Slacker Radio members will benefit from LiveOne's (LVO) partnership with Legible, gaining free access to a monthly audiobook and exclusive previews of Legible's audiobook catalog.

What is the projected value of the global audiobook market that LiveOne (LVO) is tapping into?

LiveOne (LVO) is tapping into the global audiobook market, which is currently valued at $5 billion and projected to reach $42 billion by 2031.

When will LiveOne (LVO) and Slacker Radio's 'Book of the Month' program with Legible begin?

LiveOne (LVO) and Slacker Radio's 'Book of the Month' program with Legible is set to begin in August 2024, offering members free access to a monthly audiobook.