LiveOne (NASDAQ: LVO) Subsidiary Splitmind Hits # 1 on Billboard with SZA, Expected to Drive Significant Revenue
Rhea-AI Summary
LiveOne (NASDAQ: LVO)'s subsidiary Splitmind has achieved a significant milestone as their production work on SZA's 'Lana' Deluxe album has propelled SZA's 'SOS' back to the #1 position on Billboard. The album recorded impressive first-week sales of 178,000 album equivalent units (EAU's). Additionally, Splitmind's Calvin Dickinson collaborated with Lil Yachty as co-producer on the track 'Chill Baby'.
Positive
- Subsidiary Splitmind contributed to a Billboard #1 album
- Strong first-week sales of 178,000 album equivalent units
- Strategic collaboration with major artists (SZA, Lil Yachty)
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, LVO declined 15.65%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
“Lana” Moved 178,000 Albums (EAU’s) in First Week on Chart
Splitmind’s Calvin Dickinson Co-Produced “Chill Baby” with Lil Yachty
LOS ANGELES, Jan. 02, 2025 (GLOBE NEWSWIRE) -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment, and technology platform, announced today that its subsidiary Splitmind’s production on the new SZA “Lana” Deluxe album has effectively boosted SZA’s “SOS” back to number 1 on Billboard.
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 in Tesla vehicles and 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 Splitmind
Founded by Aidan “Halfway” Crotinger in 2020, Splitmind is a Los Angeles-based music collective of producers and writers from all over the world, including Grammy-winning, multi-platinum producer Jakik. Splitmind’s catalog includes 40,000 copyrights and 2 billion streams. Splitmind provides an infrastructure that allows creatives to share sounds while retaining their royalties - paving the path to give producers long-term ownership of their copyrights. Splitmind is a majority-owned subsidiary of LiveOne (NASDAQ: LVO) and was acquired by LiveOne in 2023.
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 September 30, 2024, filed with the November 14, 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
How many album equivalent units did SZA's 'Lana' sell in its first week with LiveOne's (LVO) Splitmind production?
Which LiveOne (LVO) subsidiary contributed to SZA's Billboard #1 album?
What track did Splitmind's Calvin Dickinson co-produce with Lil Yachty on SZA's album?
When did LiveOne (LVO) announce Splitmind's Billboard #1 achievement with SZA?
