LiveOne Provides Membership Update

Rhea-AI Summary

LiveOne (NASDAQ: LVO) announced that its total membership has exceeded 3.8 million, marking a 25% year-over-year growth. The Tesla membership, in particular, saw a significant increase, reaching 1.8 million members, a 32% rise from the previous year. The company expects to add over 1 million new members by the end of 2024.

LiveOne's B2B pipeline has also expanded, with more than 60 partnerships under discussion and four major multi-year agreements set to be announced soon. According to Brad Konkol, Head of Slacker Radio, the growth is driven by collaborative B2B partnerships and a focus on creating unique, customizable audio experiences for businesses and customers.

Positive

• Total membership surpassed 3.8 million, indicating a 25% year-over-year growth.
• Tesla membership reached 1.8 million, showing a 32% year-over-year increase.
• Projected membership growth is expected to exceed 1 million by the end of 2024.
• The company has expanded its B2B pipeline to over 60, with four major multi-year partnerships to be announced.

Negative

• The press release does not provide specific revenue figures or profitability data, leaving financial performance unclear.
• No information on potential risks or challenges associated with the new partnerships.
• Lack of detail on the exact nature and terms of the B2B agreements.

Insights

Market Research Analyst

LiveOne's membership growth is certainly noteworthy. A 25% year-over-year increase in total membership, reaching 3.8 million, is a significant achievement. This growth can be attributed to their strategic B2B partnerships and their innovative approach to customizable audio experiences. Such collaborations can create a strong value proposition for corporate clients, leading to sustained growth. It's also worth noting that their partnership with Tesla, which accounts for 1.8 million members and has seen 32% year-over-year growth, highlights the success of targeting high-profile partnerships.

For investors, this data implies a robust and scalable business model. The fact that LiveOne has a growing B2B pipeline with over 60 potential partnerships further strengthens this view. However, investors should remain cautious and monitor how these future partnerships materialize and their impact on revenue and profitability. Also, the projected membership growth exceeding 1 million in calendar year 2024 shows an optimistic outlook, but one that will need to be backed by continued strategic execution.

In a competitive industry like music and entertainment platforms, sustaining such growth will require continuous innovation and effective execution of their strategic goals. Investors should also consider the broader market trends and potential competitive pressures that could impact LiveOne's growth trajectory.

Financial Analyst

From a financial perspective, LiveOne's reported 25% year-over-year membership growth and the milestone of 3.8 million members are positive indicators. This growth, combined with their extensive B2B pipeline, suggests potential for increased revenue streams. The specific mention of four multi-year major partnerships to be announced is also promising, as long-term contracts typically provide more stable and predictable revenue.

However, it's important to understand the financial impact of these memberships. Investors should look into the Average Revenue Per User (ARPU) and how it is evolving. Growth in membership is encouraging, but it must translate into financial performance to create shareholder value. Additionally, the cost associated with acquiring these members and sustaining the B2B partnerships should be closely monitored.

Investors should also pay attention to potential risks such as dependency on key partnerships like Tesla. While these high-profile partnerships can drive significant growth, they also pose a risk if any of these relationships were to weaken or dissolve.

LiveOne (NASDAQ: LVO) Proudly Announces:

- Total membership surpasses 3.8 million, a remarkable 25% year-over-year increase

- Tesla membership reaches a milestone of 1.8 million, boasting an impressive 32% year-over-year growth

- Projected membership growth exceeds 1 million in calendar year 2024

- (B2B) pipeline expands to over 60, with the signing of four multi-year major partnerships to be announced at launch

LOS ANGELES, June 10, 2024 (GLOBE NEWSWIRE) -- LiveOne (NASDAQ: LVO) an award-winning, creator-first music, entertainment, and technology platform announces today that is has surpassed 3.8 million total members, a 25% year-over-year increase.

Brad Konkol, Head of Slacker Radio, “We are pleased to announce our ongoing membership growth, driven by the power of collaborative B2B partnerships. At the heart of our strategy is the development of unique, customizable audio experiences for businesses and their customers. Our goal is to forge meaningful alliances with companies that share our passion for innovation, bespoke programming, and delivering exceptional customer value.”

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.

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 is the recent membership growth reported by LiveOne (LVO)?

LiveOne reported a total membership of over 3.8 million, marking a 25% year-over-year increase.

How much did Tesla membership grow for LiveOne (LVO)?

Tesla membership for LiveOne grew by 32% year-over-year, reaching 1.8 million members.

What is LiveOne's (LVO) membership growth projection for 2024?

LiveOne projects its membership will grow by over 1 million in the calendar year 2024.

How many B2B partnerships is LiveOne (LVO) currently discussing?

LiveOne's B2B pipeline includes over 60 partnerships under discussion.

What upcoming announcements has LiveOne (LVO) planned?

LiveOne has four major multi-year B2B partnerships set to be announced soon.