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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 its latest installment of the LiveOne Presents franchise featuring Molly Moore performing her new EP, Escapism. The concert, which includes emerging artists COM3T and Maty Noyes, will be livestreamed on March 3, 2022, at 8:00 PM ET. LiveOne has a subscriber base of over 1.35 million and streams over 2,900 artists, highlighting its commitment to delivering premium entertainment experiences.
LiveOne (Nasdaq: LVO) has announced a promotional partnership with Showstar TV to enhance digital ticket sales for the 'Showstar: UK vs USA' pay-per-view boxing event set for March 5, 2022. LiveOne will also live stream pre-fight activities leading up to the event, showcasing its commitment to live social boxing and pop culture. The last event held by LiveOne recorded over 3.5 billion impressions and 136,000 PPV purchases, marking it as a significant moment in streaming sports. CEO Robert Ellin emphasized the global demand for events combining sports and entertainment.
LiveOne (Nasdaq: LVO) announced a partnership with Polygon and Cere Network to launch a membership token and NFT platform. The token will be available to over 2 million members and can be earned through various activities on LiveOne's platform. This initiative aims to empower creators and enhance interactions between artists and fans in the evolving digital marketplace. LiveOne's NFT marketplace will enable creators to mint and sell NFTs in an eco-friendly manner. The partnership reflects LiveOne's commitment to innovation in the music and entertainment industry.
LiveOne (NASDAQ: LVO) is set to launch the podcast Third Wheel with Jenny Mollen on February 22, 2022. Hosted by actress and bestselling author Jenny Mollen, the podcast will delve into the dynamics of various celebrity couples, exploring the factors that contribute to healthy relationships. Mollen, who has considerable experience in therapy, aims to provide an insightful perspective on couple dynamics, moving beyond typical interview formats. This new addition enhances PodcastOne's existing portfolio of popular shows.
LiveOne (Nasdaq: LVO) has entered into a licensing and distribution agreement with 17LIVE, a significant player in live streaming with over 55 million global users. This partnership will launch the original dating series Plus One, set to premiere on February 17, 2022, featuring eight episodes hosted by Ify Nwadiwe. The show aims to engage viewers interactively, allowing them to influence outcomes. LiveOne continues to focus on innovative content creation, enhancing its user experience in the evolving realm of digital entertainment.
LiveOne (NASDAQ: LVO) reported substantial financial growth, with a 112% revenue increase for the first nine months of fiscal 2022, reaching a record $93.6 million. In Q3 Fiscal 2022, revenue hit $32.9 million, up from $19.1 million the previous year, despite an operating loss of $10 million. The company anticipates annual cost savings exceeding $14 million and expects to achieve positive Adjusted EBITDA for the first time in Q1 FY 2023. As of December 31, 2021, LiveOne boasted over 1.36 million paid subscribers.
Akanda Corp. has appointed Gila Jones, Gugu Dingaan, and Bridget Baker to its Board of Directors, increasing the board to seven members, including four independent directors. The new members bring diverse expertise in governance, finance, and strategic decision-making. Louisa Mojela, Executive Chairman, emphasized the company's commitment to ethics, sustainability, and diversity as it aims for enhanced ESG standards. With this change, Akanda showcases its focus on socially-conscious leadership while aiming to democratize access to cannabis-based medicine.
LiveOne (NASDAQ: LVO) will announce its financial results for the third quarter ended December 31, 2021, on February 10, 2022. The announcement will be followed by a live conference call and audio webcast at 4:30 PM ET. As of January 2022, LiveOne has over 1.35 million paid subscribers, streaming more than 2,900 artists with a library of 30 million songs. The company also generates significant engagement with 2.48 billion downloads annually from its subsidiary PodcastOne. LiveOne remains focused on delivering premium experiences through various revenue channels including memberships and subscriptions.
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.
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