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LiveOne, Inc. (NASDAQ: LVO) is a leading, creator-first music, entertainment, and technology platform, headquartered in Los Angeles, California. Formerly known as LiveXLive Media, Inc., the company is dedicated to delivering premium live music experiences and music-related video content to audiences worldwide. With subsidiaries like Slacker Radio and PodcastOne, LiveOne has established itself as a pioneer in the live streaming and audio content industry.
Since its inception in 2015, LiveOne has streamed performances from over 200 of the world’s biggest artists at renowned festivals such as Rock in Rio and the Outside Lands Music and Arts Festival. The platform offers a diverse range of content, including live streamed concerts, on-demand music videos, original shows, artist exclusives, and in-depth industry interviews.
The company operates through two primary segments: Audio and Media. The Audio segment, which includes Slacker Radio, is a significant revenue driver, offering personalized radio and curated stations. In addition, LiveOne's recent initiatives include the launch of Drumify 3.0, a subscription model designed to convert a large portion of its user base into recurring subscribers, enhancing customer lifetime value and overall revenue.
LiveOne has formed strategic partnerships to expand its reach and diversify its revenue streams. Notably, its decade-long collaboration with Tesla has resulted in substantial growth, with Tesla members increasing by 33% year over year. The company continues to focus on developing new B2B relationships to enhance its financial stability.
Financially, LiveOne has projected strong growth, with expectations of exceeding 1 million members by 2024 and significant increases in revenue from various segments. The company's innovative approach has earned it multiple awards, including the Best Live Moment award by Digiday for the
PodcastOne, a subsidiary of LiveOne (NASDAQ: LVO), has announced the addition of 14 new podcasts and the return of a popular series. The company ranks #7 among U.S. podcast publishers with a unique monthly audience exceeding 6.5 million. Since 2020, over 50 new series have launched, significantly increasing audience growth and revenue. Key highlights include hit shows like Barely Famous and Coffee Convos, which have achieved high rankings in their categories. PodcastOne aims to offer diverse programming and attract advertisers.
LiveOne (NASDAQ: LVO) announces a share repurchase of around 1.2 million shares for approximately $1 million. This is part of a broader buyback program allowing up to 2 million shares until January 31, 2023. The company projects annual cost and expense reductions exceeding $21.5 million for FY 2023, with cash reserves of approximately $14 million. LiveOne maintains its revenue guidance of $125-140 million for FY 2023 and expects to achieve positive adjusted EBITDA in Q1 2023.
LiveOne (NASDAQ: LVO) announced a global Pay-Per-View (PPV) concert featuring K-Pop artist B.I set for June 25, 2022. After producing over 125 PPV events and generating approximately $26.7 million since 2020, LiveOne continues to expand its offerings. The event will showcase new songs and a VIP experience, with tickets starting at $19.99. Fans can expect an immersive performance including behind-the-scenes access. With over 5.8 million followers, LiveOne’s social reach extends its marketing potential, indicating strong fan engagement.
LiveOne (NASDAQ: LVO) announced the global livestream of T-Pain's inaugural Wiscansin Fest, scheduled for June 11, 2022. This Milwaukee-based event, featuring artists like Lil Jon and Yung Bleu, culminates T-Pain's 'Road to Wiscansin' Tour. LiveOne, having streamed over 340 events, emphasizes a hybrid approach of blending live music, podcasting, and livestreaming. The platform has over 2.26 million members and offers a vast library of music and podcasts. The event aims to enhance the company's audience reach and engagement.
LiveOne (NASDAQ: LVO) has partnered with Hyundai Motor America to host live podcasts featuring popular shows, The Jordan Harbinger Show and LadyGang. The events will take place on June 13 and June 26, 2022, in Los Angeles and Tampa, respectively. They will showcase Hyundai's electric vehicles during the streams. This collaboration is aimed at enhancing brand visibility and audience engagement for both LiveOne and Hyundai. PodcastOne emphasizes its commitment to innovative partnerships to boost audience reach in the growing podcast market.
LiveOne (NASDAQ: LVO), a music and entertainment platform, announced its CEO Robert Ellin will present at the LD Micro Invitational XII Conference on June 8, 2022, at 3:00 p.m. ET. The event will take place at the Four Seasons Hotel in Westlake Village, California. LiveOne offers premium content experiences and has over 2.26 million members, with a library of 30 million songs and 600 curated stations. The conference will be available for live streaming, and an archived replay will be accessible on LiveOne's IR website.
LiveOne (NASDAQ: LVO) has repurchased 500,000 shares for $350,000 as part of its stock repurchase program. The company has increased its buyback authorization to $1 million total for the first quarter of fiscal year 2023, under a plan to repurchase up to 2 million shares. The program is aimed at enhancing shareholder value and is aligned with the company's capital allocation strategy, designed to support ongoing business growth. These repurchases are subject to market conditions and management's discretion.
LiveOne (LVO) announced strong financial guidance, projecting a positive Adjusted EBITDA for Q1 Fiscal 2023 and full-year guidance between $125 million and $140 million in revenue. The company is actively reducing costs, increasing anticipated annual savings from $14 million to over $20 million. LiveOne repurchased 500,000 shares under its 2 million share buyback program, demonstrating commitment to shareholder value, while currently holding $14 million in cash.
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