LiveOne, Inc. - LVO STOCK NEWS

LiveOne (NASDAQ: LVO) announces an exclusive pay-per-view event featuring Emblem3 to celebrate the release of their upcoming album, Songs From the Couch, Vol. 2, on February 8, 2023. The event is set for February 7th at 10pm ET and will include live performances, virtual meet-and-greets, and giveaways. Emblem3, with over 5.8 million followers and previously chart-topping hits, aims to re-engage their fans through this intimate showcase. Tickets are available at LiveOne.com/Emblem3.

LiveOne (LVO) celebrates its 5th anniversary by launching the LiveOne All-Stars Talent Competition Series, a year-long event showcasing over 3,000 artists. The competition kicks off on March 31, 2023, with four quarterly contests, culminating in a finale on December 31, 2023. The series boasts impressive statistics: 5.2 billion impressions and 334 million livestream views. Each finalist will receive a $10,000 prize, with a chance to win up to $100,000. Hosted by Chelsea Briggs, the event aims to enhance audience engagement while highlighting the platform's mission to promote emerging artists.

LiveOne (NASDAQ: LVO) has appointed Jim Berk to the Board of Directors for its subsidiary PodcastOne. Berk, previously CEO of PodcastOne and Participant Media, brings over 25 years of leadership experience in entertainment and media. He is expected to guide PodcastOne during its growth phase, particularly as it prepares for an IPO. PodcastOne stands out with over 14 million monthly unique listeners and 2.3 billion annual downloads. The appointment aligns with LiveOne's strategy to innovate and capitalize on opportunities in the media sector, as noted by industry leaders Robert Ellin and Kit Gray.

LiveOne (NASDAQ: LVO) reported impressive growth, achieving 160K paid members in Q3 FY 2023, totaling over 1.9 million paid members and exceeding 2.7 million total members. In the past nine months, membership rose by 414K, a 28% increase, while the last year saw a 532K increase—40% growth. The company raised its FY 2023 Adjusted EBITDA guidance to $10 million-$12 million and expects revenue of $74 million for the first nine months, with $27 million in Q3. Additionally, LiveOne aims for an IPO of Slacker this year, supported by $10.7 million in cash.

LiveOne (NASDAQ: LVO) announced that CEO Robert Ellin will present at the 25th Annual Needham Growth Conference on January 11, 2023, at 4:30 PM ET. The presentation can be viewed live or replayed via a provided link. Ellin will also hold one-on-one meetings with institutional investors during the event. LiveOne, based in Los Angeles, focuses on music, entertainment, and technology, boasting a membership base of 2.7 million as of December 30, 2022, with over 30 million songs available.

LiveOne (LVO) has announced an increase in its Adjusted EBITDA* guidance for Fiscal 2023 to between $9.5 million and $12 million. The company has successfully implemented cost reductions, expecting annual savings exceeding $30 million. Additionally, LiveOne has short-term assets of $25 million and a cash balance of $8.4 million. A non-binding Letter of Intent for a new credit line of up to $20 million has been signed, pending necessary approvals.

LiveOne (LVO) reported a record total of 2.7 million members, including 1.9 million paid members. Paid membership grew by 8% in Q3 FY2023, representing 160,000 new paid members. Over the past year, membership increased by 532,000 or 40%. LiveOne raised its guidance for the Audio Division to $17.5 million - $19 million in adjusted EBITDA for FY2023. The company is also planning to IPO Slacker Radio in FY2024.

LiveOne (NASDAQ: LVO) has announced a spin-out of PodcastOne, with an S-1 filing for its listing and a special dividend for shareholders set on January 16, 2023. PodcastOne is projected to generate $25 million in revenue for the first nine months of fiscal 2023. The podcast network boasts over 14 million unique monthly listeners and 2.3 billion downloads annually across 1,200 podcasts. With its proprietary CMS, PodcastOne offers creators insightful metrics and monetization opportunities, positioning itself as a leader in the podcasting space.

LiveOne (LVO) announced plans to spin out its subsidiary PodcastOne into a separate public company, with a special dividend to LiveOne shareholders set for January 15, 2023. The company is also exploring the potential spin-out of SlackerOne during its 2024 fiscal year. This strategic move aims to enhance shareholder value and streamline operations. LiveOne boasts a membership base of 2.6 million and significant podcasting capabilities, generating over 2.48 billion downloads annually.