LiveOne (NASDAQ: LVO) Announces Total Memberships Surpass 3.9M

Rhea-AI Summary

LiveOne (NASDAQ: LVO), a music, entertainment, and technology platform, has reported significant growth in its membership metrics for July 2024 and fiscal year 2025. Total memberships have surpassed 3.9 million, marking a 23% year-over-year increase. Notably, Tesla membership saw a 26% year-over-year growth. The company added over 225,000 new paid members in fiscal year 2025, with 64,000 joining in July 2024 alone.

LiveOne's B2B pipeline has expanded to 63 potential partnerships, including four signed agreements awaiting launch announcements. Brad Konkol, Head of Slacker Radio, expressed enthusiasm about the company's strategic vision and commitment to building strong B2B partnerships with customizable product offerings.

Positive

• Total memberships surpassed 3.9 million, growing 23% year-over-year
• Tesla membership increased by 26% year-over-year
• Added over 225,000 new paid members in Fiscal Year 2025
• Gained 64,000 new paid members in July 2024
• B2B pipeline expanded to 63 potential partnerships
• Secured four signed B2B partnerships awaiting launch announcements

Negative

• None.

Insights

Financial Analyst

LiveOne's membership growth is impressive, with total memberships surpassing 3.9 million and showing a 23% year-over-year increase. The Tesla Membership's 26% YoY growth is particularly noteworthy. The addition of over 225,000 new paid members in FY2025 and 64,000 in July 2024 alone indicates strong momentum in user acquisition. However, it's important to note that the company hasn't provided financial figures, making it challenging to assess the revenue impact of this growth. The expanding B2B pipeline, now at 63 potential partnerships with 4 already signed, suggests a strategic focus on diversifying revenue streams. While these metrics are promising, investors should remain cautious until concrete financial results are available to gauge the profitability of this growth.

Market Research Analyst

LiveOne's multi-faceted approach to growth is intriguing. The company's focus on both B2C and B2B channels demonstrates a diversified strategy. The significant increase in paid memberships suggests strong product-market fit and effective user acquisition strategies. The Tesla Membership's growth outpacing overall membership growth indicates a successful premium offering. The expanding B2B pipeline is particularly interesting, as it could lead to more stable, recurring revenue streams. However, the lack of financial details leaves questions about customer acquisition costs and lifetime value. The entertainment industry is highly competitive and LiveOne's ability to maintain this growth rate while achieving profitability will be crucial. Investors should watch for upcoming partnership announcements and their potential impact on revenue and market share.

- Tesla Membership: Boasts 26% year-over-year growth

- New Paid Members: Increase over 225k in Fiscal Year 2025 and an impressive 64K in July 2024

- Total Membership: Grew 23% year-over-year

- B2B Pipeline: Expands to 63, including four signed partnerships to be announced upon launch

LOS ANGELES, Aug. 09, 2024 (GLOBE NEWSWIRE) -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment and technology platform, announced today an update for certain of its July 2024 and fiscal year ending March 31, 2025 (“Fiscal Year 2025”) memberships metrics and its B2B pipeline.

Brad Konkol, Head of Slacker Radio, commented, “We are pleased with our continued growth and extremely enthusiastic regarding the strategic vision of Slacker Radio and LiveOne. Our commitment to building strong B2B partnerships and crafting customizable product offerings for a wide range of businesses remains unwavering. We believe in forging unique, mutually beneficial relationships with both businesses and consumers. By focusing on collaborative opportunities and tailored solutions, we are well-positioned to achieve significant new growth through these strategic initiatives."

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 Radio, 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.

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 one key 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; uncertain and unfavorable outcomes in 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, 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

What is LiveOne's (LVO) total membership count as of the latest update?

LiveOne (LVO) announced that its total memberships have surpassed 3.9 million, representing a 23% year-over-year growth.

How much did LiveOne's (LVO) Tesla membership grow in the latest report?

LiveOne (LVO) reported that its Tesla membership grew by 26% year-over-year.

How many new paid members did LiveOne (LVO) add in Fiscal Year 2025?

LiveOne (LVO) added over 225,000 new paid members in Fiscal Year 2025, which ends on March 31, 2025.

What is the current size of LiveOne's (LVO) B2B pipeline?

LiveOne (LVO) reported that its B2B pipeline has expanded to 63 potential partnerships, including four signed agreements awaiting launch announcements.