LiveOne’s (Nasdaq: LVO) Partnership with Tesla Surpasses 350K Paid Subscribers; Reports $16M Current Cash Position

Rhea-AI Summary

LiveOne (LVO) has announced significant progress in its multi-year partnership with Tesla, reaching 350,000 paid subscribers as of December 15th, 2024. CEO Robert Ellin highlighted the company's use of their technology stack, including AI, to provide personalized user experiences. The company also reported a current cash position of $16 million.

Positive

• Achieved 350,000 paid subscribers through Tesla partnership
• Maintains $16M cash position
• Successfully leveraging AI and tech stack for personalized user experiences

Negative

• None.

Insights

Financial Analyst

The surpassing of 350,000 paid subscribers through the Tesla partnership represents a significant milestone for LiveOne, demonstrating strong execution in their B2B strategy. With a $16M cash position, the company shows healthy liquidity to support operations. The Tesla partnership is particularly valuable as it provides a steady revenue stream through subscriptions and exposes LiveOne to Tesla's premium customer base. The integration of AI technology for personalization could lead to improved user retention and potential ARPU growth. For a company with a market cap of $95.5M, this scale of partnership with a major automotive player significantly enhances their market position and growth trajectory.

Tech Expert

The deployment of AI-driven personalization technology in the Tesla partnership showcases LiveOne's technical capabilities in delivering sophisticated content experiences. The tech stack integration into Tesla's ecosystem is noteworthy as it demonstrates the platform's scalability and adaptability to high-end automotive infotainment systems. The achievement of 350K subscribers validates the technical robustness of their platform and its ability to handle substantial user loads. This successful implementation could serve as a blueprint for future automotive partnerships, potentially opening doors to other OEM collaborations. The focus on personalization through AI is particularly strategic as it can drive user engagement and reduce churn.

LOS ANGELES, Dec. 18, 2024 (GLOBE NEWSWIRE) -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment, and technology platform, announced today an update with respect to their multi-year partnership with Tesla.

"We are thrilled with the tremendous progress we've made in collaboration with Tesla, having already achieved, as of December 15th, 350,000 paid subscribers”, said Robert Ellin, CEO of LiveOne. "This partnership allows us to leverage our entire tech stack, including AI, to deliver highly personalized experiences, further enriching our users' engagement and driving business growth.”

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 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 paid subscribers does LiveOne (LVO) have through its Tesla partnership?

As of December 15th, 2024, LiveOne has reached 350,000 paid subscribers through its Tesla partnership.

What is LiveOne's (LVO) current cash position in December 2024?

LiveOne reported a current cash position of $16 million.

How is LiveOne (LVO) enhancing user experience in its Tesla partnership?

LiveOne is leveraging its entire tech stack, including AI technology, to deliver highly personalized experiences to users.

When did LiveOne (LVO) announce its Tesla partnership subscriber milestone?

LiveOne announced reaching 350,000 paid subscribers through its Tesla partnership on December 18th, 2024.