LiveOne’s (Nasdaq: LVO) Partnership with Tesla Exceeds 450k Users, Including 100k+ New Ad-Supported Users

Rhea-AI Summary

LiveOne (LVO) has announced reaching over 450,000 Tesla users, including more than 100,000 free ad-supported users. The data reveals that users average 50+ minutes of daily in-vehicle listening and achieve 2.8x engagements. The company's upgraded Tesla partnership, which delivers the LiveOne app and music service to all devices, demonstrates strong customer loyalty over 12 years. LiveOne's CEO Robert Ellin emphasized the company's focus on developing B2B partnerships with major companies valued between $1 billion and trillion dollars, leveraging their customer databases with LiveOne's programming capabilities.

Positive

• Achieved 450,000+ Tesla users milestone
• 100,000+ ad-supported users generating new revenue streams
• High user engagement with 50+ minutes daily listening time
• 2.8x user engagement rate
• Successfully expanded Tesla partnership across all devices

Negative

• None.

- Tesla Users Averaged 2.8x Engagements & 50+ Minutes of Listening Daily

- Driving New Advertising Revenues Via DAX Partnership

LOS ANGELES, Dec. 30, 2024 (GLOBE NEWSWIRE) -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment, and technology platform, announced today that it has reached a milestone of 450,000+ Tesla users. Of those users, over 100,000 are free ad-supported users, with data showing that on average such users spend 50+ minutes of in-vehicle listening daily.

Robert Ellin, Chairman and CEO of LiveOne commented, “I'm thrilled with the first 30 days of our upgraded Tesla partnership, delivering the LiveOne app and music service to all devices, proving 12 years of customer loyalty and love.”

Mr. Ellin continued, “Our Tesla partnership showcases the potential of our B2B deals, delivering unique content and programming to our partners to drive user engagement, retention, and loyalty. Stay tuned for anticipated multiple B2B partnership announcements this year!

As CEO and Chairman, I'm focusing all resources and energy on game-changing B2B partnerships with $1 billion to trillion-dollar companies, combining their massive customer databases with our expertise driving orbital programming at the lowest cost in the industry.”

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.

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 SEC on 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 Tesla users does LiveOne (LVO) currently have?

LiveOne (LVO) has reached over 450,000 Tesla users, including more than 100,000 free ad-supported users.

What is the average daily listening time for LiveOne (LVO) Tesla users?

LiveOne Tesla users spend an average of 50+ minutes of in-vehicle listening daily.

What is the engagement rate for LiveOne (LVO) Tesla users?

Tesla users demonstrate 2.8x engagements on the LiveOne platform.

What is LiveOne's (LVO) strategy for B2B partnerships?

LiveOne is focusing on developing B2B partnerships with companies valued between $1 billion and trillion dollars, combining their customer databases with LiveOne's programming capabilities.

How has LiveOne's (LVO) Tesla partnership evolved?

LiveOne has upgraded its Tesla partnership to deliver the LiveOne app and music service across all devices, building on 12 years of customer loyalty.