LIVEONE'S 73RD EDITION OF ITS ORIGINAL FRANCHISE LIVEONE PRESENTS TO FEATURE PERFORMANCES BY GRAMMY AWARD-NOMINEES BUSTA RHYMES AND KAT DAHLIA PLUS IHEARTRADIO MUSIC AWARDS NOMINEE LAUREN WEINTRAUB

Rhea-AI Summary

LiveOne (Nasdaq: LVO) announced the 73rd edition of its exclusive LiveOne Presents: Rooftop Series, taking place on January 31, 2022, at Casa Cipriani in New York City. The event will showcase performances by Grammy-nominee Busta Rhymes, Kat Dahlia, and Lauren Weintraub, streaming globally on LiveOne's platform. The LiveOne Presents series aims to connect established and emerging talent, enhancing viewer engagement through unique live experiences. Additionally, LiveOne boasts over 1.35 million subscribers and extensive content offerings including 30 million songs and 268 podcasts.

Positive

• Continued growth with over 1.35 million paid subscribers.
• Diverse content portfolio including 30 million songs and 268 podcasts.
• Successful ongoing LiveOne Presents series enhancing brand visibility.

Negative

• Revenue recognition issues related to a contractual dispute affecting subscriber count.

LOS ANGELES, Jan. 31, 2022 /PRNewswire/ -- LiveOne (Nasdaq: LVO), a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through membership, subscriptions, and live and virtual events, announced today the 73rd installment of its original and exclusive LiveOne Presents: Rooftop Series franchise.

The exclusive live event on Monday, January 31 at Casa Cipriani in New York City will feature performances from 12-time Grammy Award-nominee and hip hop mainstay Busta Rhymes, multi-platinum Grammy Award-nominee Kat Dahlia, and iHeartRadio Music Awards nominee Lauren Weintraub. The event will also livestream globally on the LiveOne platform and be cross-promoted on the talent's social media channels. 

The LiveOne Presents original franchise brings together established and emerging talent across music and entertainment. It has broken artists like The Aces, Kayzo, Marc E. Bassy and KOH, and has exhibited seamless genre blending in "city takeovers" ranging from Austin, Chicago, Las Vegas, and more.

LiveOne Presents has livestreamed 72 episodes featuring performances by Wiz Khalifa, Tinashe, Common, Twista, Mario, DJ Godfather, Chloe Moriondo, DaBaby, Marc E. Bassy, Jillian Rossi, NOMBE, Molly Moore, Rarri, and more. The Rooftop Series version partnered with Big Machine Label Group in Austin, premiering Country Music Association's Female Vocalist of the Year Carly Pearce's new album 29: Written in Stone along with special performances from Danielle Bradbery and Laci Kaye Booth.

The ongoing weekly series, Music Lives ON: Garden Sessions sponsored by Volkswagen offers unique performances in intimate settings featuring; Teddy Swims, The Band Camino, Valley, and Blu DeTiger.

"We are thrilled to bring LiveXLive Presents to New York City," said Robert Ellin, CEO and Chairman of LiveOne. "This city holds a special place in my heart. New York is the perfect destination for intimate performances from established music icons and emerging artists alike, and no one is offering that quite like LiveOne."

"Excited to support LiveOne as they have supported me and my initiatives in the songwriter community," said Kat Dahlia. "Excited to be playing with one of the greatest rappers OAT, Busta. Feeling goated."

LiveOne has the first talent-centric platform focused on superfans and building long-term franchises in on-demand audio and video, podcasting, vodcasting, OTT linear channels, pay-per-view, NFTs, and livestreaming. Its unique model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales, licensing, and ticketing.

About LiveOne, Inc.
Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) (the "Company") is a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships, subscriptions and live and virtual events. As of January 2022, the Company has accrued a paid subscriber base of over 1.35** million, streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, 268 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and has created a valuable connection between fans, brands, and bands. The Company's wholly-owned subsidiaries include LiveXLive, PPVOne, Slacker Radio, React Presents, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, and PodcastOne, which generates more than 2.48 billion downloads per year and 300+ episodes distributed per week across its stable of top-rated podcasts. LiveXLive is available on iOS, Android, Roku, Apple TV, Amazon Fire, and through OTT, STIRR, and XUMO. For more information, visit www.livexlive.com and follow us on Facebook, Instagram, TikTok, and Twitter.

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, distribution or transaction, the timing of the closing of such proposed event, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all, or that the closing of any proposed financing, acquisition, spin-out, 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 subscribers; 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; 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, 2021, filed with the U.S. Securities and Exchange Commission (the "SEC") on July 14, 2021, Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the SEC on August 16, 2021, Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2021, filed with the SEC on October 29, 2021, 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 obligations 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.

** Included in the total number of subscribers for the reported periods are certain subscribers which are the subject of a contractual dispute. LiveOne is currently not recognizing revenue related to these subscribers.

Press Contact:
LiveOne
aileen@livexlive.com 
917.842.9653
aavidon@livexlive.com
516.522.1349

LiveOne IR Contact:
IR@liveone.com
310.601.2505

 

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SOURCE LiveOne, Inc.

FAQ

What is LiveOne's latest event announcement?

LiveOne announced the 73rd edition of its LiveOne Presents: Rooftop Series event featuring Busta Rhymes, Kat Dahlia, and Lauren Weintraub on January 31, 2022.

What are the highlights of LiveOne's Rooftop Series?

The Rooftop Series features performances from prominent artists and aims to promote both established and emerging talent.

How many subscribers does LiveOne currently have?

LiveOne has over 1.35 million paid subscribers as of January 2022.

What kind of content does LiveOne offer?

LiveOne offers a wide range of content including 30 million songs, 600 curated radio stations, and 268 podcasts.

What are the potential risks mentioned in LiveOne's announcement?

LiveOne faces revenue recognition issues linked to a contractual dispute with certain subscribers.