Liveone Inc Stock Price, News & Analysis

LiveOne (NASDAQ: LVO) has restructured and rebranded its clothing subsidiary to CPSOne, investing $2M to enhance profitability. This move includes a partnership with fashion expert Michael Schnieder aimed at consolidating streetwear and celebrity brands, such as athletic footwear and casual wear. CEO Robert Ellin expressed enthusiasm for the collaboration, noting Schnieder's brand-building expertise. As of January 17, 2023, LiveOne boasts 2.7 million members and a diverse content library, including 30 million songs and more than 300 podcasts.

LiveOne (NASDAQ: LVO) announced a significant debt restructuring, converting $21 million of debt into preferred stock convertible to common shares at $2.10 each. This step, along with anticipated annual cost savings of over $30 million for the fiscal year ending March 31, 2023, positions the company for its strongest financial standing to date, according to CEO Robert Ellin. The comprehensive details of this transaction are available in LiveOne’s Current Report on Form 8-K filed with the SEC.

LiveOne (NASDAQ: LVO) will announce its fiscal 2023 third-quarter financial results for the period ending December 31, 2022, on February 9, 2023, at 10:30 AM ET. A live conference call will follow, allowing senior management to provide insights and details on performance metrics. As of January 17, 2023, LiveOne reported a membership base of 2.73 million across paid and ad-supported segments, streaming over 2,900 artists with a catalog of 30 million songs. The company's diverse offerings include podcasts, radio stations, and music-related NFTs, highlighting its commitment to premium content delivery.

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.