LiveOne's (NASDAQ: LVO) Tesla Partnership Hits Milestone 500K+ Users
Rhea-AI Summary
LiveOne (NASDAQ: LVO), a music, entertainment, and technology platform, has reached a milestone of 500,000+ Tesla users. The platform projects to surpass 550,000 users by February 1st, including over 150,000 new ad-supported subscribers. Initially rolled out to Tesla subscribers, the partnership will expand rapidly starting this week.
Robert Ellin, Chairman and CEO, expressed excitement over the high conversion rate of Tesla subscribers to LiveOne. The company is leveraging AI and data mining to monetize its database and unlock new revenue streams. This milestone is seen as a stepping stone to securing additional B2B partnerships. LiveOne has existing partnerships with Spotify, Apple, Samsung, iHeart, Facebook, and TikTok, and anticipates new partnerships with Fortune 500 media conglomerates, which are expected to generate over $25 million in revenues.
Positive
- Reached 500,000+ Tesla users, projecting 550,000+ by February 1st.
- 150,000+ new ad-supported subscribers.
- Expanding rollout rapidly.
- Utilizing AI and data mining to unlock new revenue streams.
- Anticipates generating $25 million+ from new partnerships.
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, LVO gained 3.51%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
- Projects 550k+ Users by February 1st
- Including 150K+ New Ad-Supported Subscribers
- Limited Rollout to Tesla Cars, Expanding Rapidly
- Utilizing AI and Data Mining to Monetize Database
LOS ANGELES, Jan. 14, 2025 (GLOBE NEWSWIRE) -- LiveOne (NASDAQ: LVO), an award-winning, creator-first, music, entertainment, and technology platform, announced today that it has reached a milestone of 500,000+ Tesla users. After an initial rollout to Tesla subscribers, the partnership will begin expanding the rollout this week.
Robert Ellin, Chairman and CEO of LiveOne, commented, “We're thrilled to see a large percentage of Tesla subscribers converting to LiveOne. Our company is quickly transforming into a formidable data company, leveraging AI and data mining to unlock new revenue streams. This milestone reinforces our confidence in securing additional B2B partnerships, similar to those with Spotify, Apple, Samsung, iHeart, Facebook, TikTok, and new partnerships with Fortune 500 media conglomerates, which we anticipate will generate
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 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
What is the significance of LiveOne reaching 500,000 Tesla users?
How many users does LiveOne project by February 1st?
How many new ad-supported subscribers has LiveOne gained?
What technologies is LiveOne using to monetize its database?
Which companies does LiveOne have existing partnerships with?
How much revenue does LiveOne expect from new partnerships with Fortune 500 media conglomerates?
