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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) has announced the availability of multiple popular podcasts from its subsidiary PodcastOne in Tesla vehicles through its LiveXLive streaming platform. This initiative includes fan-favorite titles such as Carolla Classics and The Jordan Harbinger Show. CEO Robert Ellin expressed excitement over expanding content access for users, while Doug Ellin highlighted the benefits of reaching new audiences. The move aligns with the recent launch of the LiveXLive app for vehicles using the Android Automotive platform, which is being adopted by major automotive brands.
LiveOne (NASDAQ: LVO) reported strong preliminary operating metrics for 2021, including 1.35 million paid subscribers, a 34.5% increase year-over-year, and 699,000 new members. The company raised its fiscal year 2022 revenue guidance to $112-$113.5 million and maintained guidance for 2023 at $120-$140 million. Significant milestones include 2.48 billion podcast downloads and 188 million livestream views. LiveOne aims for positive adjusted EBITDA in Q1 2023 and announced plans for further cost reductions, potentially increasing annual savings to over $14 million.
LiveOne (Nasdaq: LVO) announced the launch of Music Lives ON: Garden Sessions, featuring live performances by emerging artists and exclusive interviews. This new series, sponsored by Volkswagen for its 2022 Taos SUV, emphasizes joy and community engagement. Recordings will take place in Venice, California, with episodes airing weekly from January 19 to March 9, 2022. Artists like Valley and Teddy Swims will perform, showcasing their personal interests beyond music. LiveOne aims to enhance connections between fans and artists while supporting the music industry.
LiveOne (Nasdaq: LVO) announced that Chairman and CEO Robert Ellin will present at the Emerging Growth Conference on January 5, 2022, at 2:30 PM ET. This virtual event will include an interactive Q&A session following the presentation. LiveOne is known for its platform offering music, comedy, and pop culture content, having streamed over 1,800 artists and hosting nearly 30 million songs. The conference serves public companies in growth sectors, connecting them with potential investors and advisors.
LiveOne (Nasdaq: LVO) announced the exchange of approximately $2.4 million of outstanding debt into shares of its common stock at a price of $2.10 per share. This move is part of the company's strategy to consolidate and restructure its React Presents live business, aiming to build momentum and enhance its financial position. LiveOne operates a talent-centric platform for audio and video content, including a library with 30 million songs and over 1,800 artists streamed since January 2020.
LiveOne (NASDAQ: LVO), a leading platform for music and entertainment, announced that its CEO, Robert Ellin, will present at the 24th Annual Needham Growth Conference on January 10, 2022, at 2:45 p.m. ET. The company, which has streamed over 1,800 artists since January 2020, offers a diverse range of content including nearly 30 million songs and 235 podcasts. Investors can register for the presentation online and schedule virtual meetings with management through Needham representatives.
LiveOne (Nasdaq: LVO) announced the launch of GamifyOne, a live social music gaming platform aimed at enhancing user engagement through interactive show formats. The platform will include a variety of trivia games and opportunities to win prizes such as Teslas and NFTs, tied to music events. This initiative is in conjunction with the proposed Trader2B acquisition, further integrating gamification into LiveOne's offerings. CEO Robert Ellin highlighted the need for innovative content formats in the evolving landscape of content engagement.
On December 28, 2021, LiveOne (LVO) announced a binding Letter of Intent to license and potentially acquire Trader2B to integrate its technology for a gamified platform. This initiative aims to engage over 100 million users by offering music-related stocks, crypto, and NFTs, with a prize pool exceeding $1 million. The new platform will enhance user experience, drive memberships, and is expected to split net revenues with Trader2B without incurring operational costs for LiveOne. This marks LiveOne's eighth acquisition, aimed at expanding its interactive offerings in the music and entertainment sector.
LiveOne (Nasdaq: LVO) announced a major consolidation plan aiming for over $14 million in annual cost savings. They plan to spin out their PPV business, PPVOne, with an equity distribution to stockholders expected by March 31, 2022. However, the company cancelled the Spring Awakening Excursions: Cancun Awakening festival and postponed another event due to COVID-19 concerns. Updated revenue guidance for Fiscal 2022 is set between $110 million - $112 million, while Fiscal 2023 is projected between $120 million - $140 million.
LiveOne, a subsidiary of LiveOne (LVO), has partnered with Super League Gaming (SLGG) to create immersive metaverse experiences linked to music and entertainment events. This collaboration aims to offer fans unique opportunities to enjoy live music within popular metaverse platforms like Roblox and Minecraft, featuring virtual goods, NFTs, and interactive activities. Beginning in 2022, events such as the Spring Awakening Music Festival will be showcased, enhancing the digital reach for both companies in the creator economy.
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