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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
LiveOne (Nasdaq: LVO) announced the commencement of a stock repurchase program starting in Q1 FY 2023, with authorization to repurchase up to 2 million shares, beginning with 500,000 shares. As of April 22, 2022, the company reported cash on hand of $13.6 million and a total membership of 2.26 million members. LiveOne maintains its guidance for FY 2023, forecasting revenue between $125 million - $140 million and adjusted EBITDA between $4 million - $8 million. CEO Robert Ellin emphasized confidence in the company's long-term growth and shareholder value maximization.
LiveOne (NASDAQ: LVO) has partnered with Propagate Content to launch Ultimate Social Boxing, a competitive reality series featuring social media stars. Contestants will vie for a $1 million contract with the new Ultimate Social Boxing League. Following the success of the inaugural Social Gloves event, which generated over $15 million in revenue and 136,000 pay-per-view purchases, Ultimate Social Boxing aims to attract a significant audience through its engaging format.
PodcastOne, a leading podcast platform and a subsidiary of LiveOne (NASDAQ: LVO), recently announced significant accolades for its executives. President Kit Gray was recognized as one of the most influential figures in podcasting, while Eli Dvorkin was named to the Top 40 Under 40 list by Podcast Magazine. PodcastOne also achieved over 2.4 billion annual downloads, solidifying its position as a top publisher in the U.S. This success is attributed to Gray's innovative network-talent partnerships and Dvorkin's talent acquisition strategies, driving growth for PodcastOne.
LiveOne (NASDAQ: LVO) has awarded the inaugural Rookie of the Year to global pop star Noa Kirel, recognizing her significant rise in the music industry. Kirel's social media reach exceeds 2 million, and she has partnered with Atlantic Records since mid-2020. The award will feature an exclusive NFT along with promotional activities on LiveOne's platform. The company aims to expand its talent-centric model, which includes a extensive user base of over 2.23 million members and diverse monetization strategies.
LiveOne (NASDAQ: LVO) reported a record total membership of 2.23 million as of April 1, 2022, including 1.48 million paid members. The company added over 52,000 new paid members in March 2022, driven by various initiatives. For FY 2022, LiveOne anticipates revenue of at least $112 million, a 72% increase from FY 2021's $65.2 million. The firm confirmed its guidance for positive Adjusted EBITDA in Q1 FY 2023 and highlighted substantial growth across social media engagement and podcast downloads.
LiveOne (NASDAQ: LVO) announced its partnership with Go Digital to launch GamifyOne, a live social music gaming platform set to launch this quarter. This innovative platform will gamify music stock trading, crypto trading, and NFTs, offering LiveOne members exclusive discounts, prizes, and virtual meet-and-greets. The collaboration aims to enhance LiveOne's NFT offerings through the joint venture with Polygon and Cere Network. With a membership base exceeding 2.1 million and a library of 30 million songs, LiveOne continues to expand its digital footprint.
LiveOne (NASDAQ: LVO) announced the 75th installment of its LiveOne Presents: Rooftop Series, a pre-Grammys event in Las Vegas on April 1, 2022, sponsored by Meow Mix. The live performance will feature artists like Christian French, Lily Kincade, and Kevin Woo. Attendees will receive LiveOne memberships, offering exclusive access to over 30 million songs and NFT perks. Meow Mix will donate $40,000 to IFAW for animal aid in Ukraine. The event will stream globally on LiveOne’s platform and social media, celebrating emerging talent and music culture.
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