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LiveOne (NASDAQ: LVO) to Launch AI Search and Discovery Engine Powered by Seekr, Running on Intel Developer Cloud

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LiveOne (NASDAQ: LVO) has announced a partnership with Seekr, utilizing the Intel Developer Cloud to launch an AI-powered search platform for beats and sounds. This platform, aiming to be available by year's end, is designed to aid music creation and licensing, offering new revenue opportunities for creators in a multi-billion-dollar market. LiveOne also introduced a new subscription service for beats and sounds, gaining 100+ subscribers monthly at $19.99 each. This collaboration aligns with LiveOne's commitment to innovation and support for artists, leveraging Seekr’s AI technology to enhance their extensive content catalog.

Positive
  • Partnership with Seekr leveraging Intel Developer Cloud.
  • Launch of AI-powered search platform for beats and sounds.
  • 100+ new subscribers monthly for the beats and sounds subscription service at $19.99 each.
  • Potential new revenue streams for artists and creators in a multi-billion-dollar market.
Negative
  • None.

This announcement signifies a significant technological leap for LiveOne, as the integration of an AI-powered search and discovery engine highlights the ongoing shift towards using AI to enhance creative processes. The collaboration with Seekr and the utilization of the Intel Developer Cloud underscores the firm's commitment to leveraging cutting-edge technology. This move could streamline music creation and licensing, offering creators a powerful tool to efficiently find and use beats and sounds.

AI technology can vastly improve the accuracy and speed of search engines, enabling artists to quickly locate specific sounds or musical elements. This efficiency can lead to more innovative and diverse music production. Furthermore, the scalability offered by Intel's cloud infrastructure ensures that this service can handle a large user base without compromising performance.

From a technological standpoint, this partnership and product offering can set a new standard in the digital music space, potentially attracting a significant user base interested in advanced, tech-driven solutions.

The introduction of a subscription-based AI search engine for beats and sounds at $19.99 per month is a strategic move by LiveOne aimed at tapping into a multi-billion-dollar market. By addressing a clear demand within the music creation community for efficient tools, LiveOne can create a steady revenue stream. The initial uptake of 100+ subscribers per month is a positive indicator of market interest.

This service could become a vital resource for independent artists and smaller production studios that lack the extensive resources of major music labels. By providing access to a vast library of sounds and the ability to efficiently search through it, LiveOne is positioned to meet an underserved need in the industry.

The successful adoption of this technology could bolster LiveOne's market position and expand its user base, translating into long-term financial growth and stability.

- AI-powered search engine for beats & sounds

- Unlocking new revenue streams for artists, and creators in a multi-billion-dollar market

- LiveOne Adds New Subscription for Beats and Sounds Adding 100+Subscribers/Month at $19.99

LOS ANGELES, July 02, 2024 (GLOBE NEWSWIRE) -- LiveOne (NASDAQ: LVO), a creator-first music, entertainment, and technology platform, announces a groundbreaking partnership with Seekr operating on the Intel Developer Cloud to build the industry's first AI-powered search platform for beats and sounds.

The platform will be available for creators by the end of the year to aid in music creation and licensing with innovative technology. The offering will unlock limitless potential for artists and creators, solidifying LiveOne's commitment to innovation and artist support. Thanks to Seekr’s multi-year collaboration with Intel, LiveOne's search and discovery platform will run on the Intel Developer Cloud.

“The Seekr platform's AI search engine, combined with our extensive collection of beats and sounds, creates a limitless potential for artists and creators to align and create music and recurring revenue streams,” said Robert Ellin, LiveOne CEO.

“We are thrilled to work with LiveOne on this exciting venture. Their content catalog and knowledge in this market is unmatched and through the application of our generative AI, we’re collaborating on a novel offering for creators seeking to build innovative and efficient music solutions,” said Pat Condo, Founder & CEO, Seekr.

About LiveOne, Inc.

LiveOne, Inc. is an award-winning, creator first, music, entertainment, and technology platform delivering premium experiences and content worldwide. With subsidiaries like Slacker Radio and PodcastOne, LiveOne has garnered accolades for its innovative approach, including the Best Live Moment award by Digiday for the "Social Gloves" PPV Event.

About Seekr Technologies

Seekr is a privately held artificial intelligence company that identifies, rates, and generates reliable content at scale. Seekr's trusted and responsible AI platform comprehensively and uniformly evaluates each piece of content individually against objective, transparent, and explainable standards. Seekr is committed to building a web that people can trust.

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, 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; 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, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 29, 2023, Quarterly Report on Form 10-Q for the quarter year ended June 30, 2023, filed with the SEC on August 15, 2023, 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 obligation 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.

For media inquiries, please contact:

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 new AI-powered service is LiveOne (LVO) launching?

LiveOne (LVO) is launching an AI-powered search and discovery platform for beats and sounds, developed in partnership with Seekr and running on the Intel Developer Cloud.

When will LiveOne's AI-powered platform for beats and sounds be available?

LiveOne's AI-powered platform for beats and sounds aims to be available by the end of the year.

How much is the new subscription service introduced by LiveOne (LVO)?

The new subscription service for beats and sounds by LiveOne costs $19.99 per month.

How many new subscribers is LiveOne (LVO) gaining monthly for its new service?

LiveOne is gaining over 100 new subscribers monthly for its new beats and sounds subscription service.

What market potential does LiveOne's new platform aim to tap into?

LiveOne's new AI-powered platform aims to tap into a multi-billion-dollar market for music creation and licensing.

LiveOne, Inc.

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