PodcastOne Announces Multi Year Partnership With SourceAudio’s PodcastMusic.com, Integrating Cutting-Edge AI Technology to Utilize 1.2 Million Fully Licensed Songs and Sound Effects for Podcasts

Rhea-AI Summary

PodcastOne (PODC) integrates SourceAudio's music licensing service, PodcastMusic.com, to revolutionize podcasting. LiveOne (LVO) owns 80% of PODC common stock. SourceAudio's AI technology provides access to 1.2 million songs from top-tier movie and TV music catalogs, enhancing the creative quality of podcasts and offering personalized sound designs.

LOS ANGELES, CA, Nov. 28, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- PodcastOne (Nasdaq: PODC), a leading podcast platform and a subsidiary of LiveOne (Nasdaq: LVO), which owns 80% of the PODC common stock, announced today the integration of SourceAudio's music licensing service, PodcastMusic.com. This partnership revolutionizes podcasting, offering personalized and efficient tools for podcasters to discover and select sound designs seamlessly aligned with their shows. By incorporating SourceAudio's cutting-edge AI technology to access top-tier movie and TV music catalogs of 1.2 million songs, PodcastOne aims to elevate the creative quality of their podcasts, providing audiences with an immersive and iconic audio experience.

With SourceAudio's AI technology, PodcastOne's team will now have the capability to precisely identify and search for the most specific audio elements tailored to the unique needs of each podcast. For instance, podcast producers can now search for "intro music for Adam Carolla" and the AI will curate selections based on Adam's personality, the demographic of his listeners, and tonal characteristics that best complement his show.

"This partnership marks a significant leap forward in our commitment to delivering an unparalleled podcasting experience," said Kit Gray, President and Co-Founder of PodcastOne. "By leveraging SourceAudio's AI technology, we are empowering our podcasters to discover audio elements that resonate with the essence of their shows, creating a more engaging and immersive listening experience."

About SourceAudio

Based in Los Angeles, SourceAudio’s best-in-class music CMS and AI platform hosts more than 30 millions songs from incredibly diverse production music libraries, indies, and publishers who connect directly with the largest and most influential content creators and broadcasters/streaming networks in the world via the platform. With unrivaled AI music search, metadata, team collaboration, and a licensing user experience at its core, SourceAudio further extends its value through integrated solutions built specifically for the music-for-commercial-media supply chain. Its full-stack solution serves as the launchpad to unlocking instant downstream revenue opportunities like YouTube ContentID, DSP distribution, and licensing to podcasters, radio groups, television, and beyond. With its standard-setting AI-powered search, automated metadata, AI playlisting, and generative audio solutions, SourceAudio revolutionizes the space through its suite of products and tools created specifically to empower rights holders everywhere.

For more information, visit sourceaudio.com.

About PodcastOne, Inc.

PodcastOne (Nasdaq: PODC) is a Los Angeles based podcast network founded in 2012 by Kit Gray and Norm Pattiz providing creators and advertisers with a full 360-degree solution in sales, marketing, public relations, production, and distribution delivering over 2.1 billion downloads per year with a community of 250 of the top podcasters, including Adam Carolla, Kaitlyn Bristowe, Jordan Harbinger, LadyGang, and A&E's Cold Case Files. PodcastOne has built a distribution network reaching over 1 billion listeners a month across all of its own properties, LiveOne (Nasdaq: LVO), Spotify, Apple Podcasts, iHeartRadio, Samsung and over 150 shows exclusively available in Tesla vehicles. PodcastOne is also the parent company of LaunchpadOne, an innovative self-serve platform developed to launch, host, distribute and monetize independent user-generated podcasts. For more information, visit podcastone.com and follow us on Facebook, Instagram, YouTube and Twitter at @podcastone. For more investor information, please visit ir.podcastone.com.

Forward-Looking Statements

All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “would,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: LiveOne’s reliance on one key customer for a substantial percentage of its revenue; LiveOne’s and PodcastOne’s ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, including the spin-out of LiveOne’s pay-per-view business, the timing of the consummation of any such proposed event, including the risks that a condition to the consummation of any such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, merger, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; PodcastOne’s ability to continue as a going concern; PodcastOne’s ability to attract, maintain and increase the number of its listeners; PodcastOne identifying, acquiring, securing and developing content; LiveOne’s intent to repurchase shares of its and PodcastOne’s common stock from time to time under LiveOne’s announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; PodcastOne’s ability to maintain compliance with certain financial and other covenants; PodcastOne successfully implementing its growth strategy, including relating to its technology platforms and applications; management’s relationships with industry stakeholders; the effects of the global Covid-19 pandemic; uncertain and unfavorable outcomes in legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of PodcastOne’s subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in PodcastOne’s Annual Report on Form 10-K for the fiscal year ended March 31, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 29, 2023, Quarterly Report on Form 10-Q for the quarter year ended September 30, 2023, filed with the SEC on November 20, 2023, and in PodcastOne’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and PodcastOne disclaims any obligation to update these statements, except as may be required by law. PodcastOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.

PodcastOne IR Contact:
Kirin Smith
PCG Advisory
(646) 823-8656
ksmith@pcgadvisory.com

PodcastOne Press Contact:
(310) 246-4600
Susan@Guttmanpr.com

FAQ

What is the latest announcement from PodcastOne (PODC) and LiveOne (LVO)?

PodcastOne (PODC), a leading podcast platform, announced the integration of SourceAudio's music licensing service, PodcastMusic.com, with LiveOne (LVO) as the majority owner of PODC common stock.

How does SourceAudio's AI technology benefit PodcastOne (PODC) and its podcasters?

SourceAudio's AI technology provides access to 1.2 million songs from top-tier movie and TV music catalogs, enabling podcasters to discover and select sound designs seamlessly aligned with their shows, creating a more engaging and immersive listening experience.

What is the goal of the partnership between PodcastOne (PODC) and SourceAudio?

The partnership aims to elevate the creative quality of podcasts by empowering podcasters to discover audio elements that resonate with the essence of their shows, offering personalized and efficient tools for podcasters to enhance their content.

Who commented on the partnership and what did they say?

Kit Gray, President and Co-Founder of PodcastOne, stated that the partnership marks a significant leap forward in their commitment to delivering an unparalleled podcasting experience, empowering podcasters to create a more engaging and immersive listening experience.

How does the integration of SourceAudio's technology impact PodcastOne's (PODC) podcast producers?

The integration allows podcast producers to search for specific audio elements tailored to the unique needs of each podcast, such as 'intro music for Adam Carolla,' with the AI curating selections based on the personality of the host, the demographic of the listeners, and tonal characteristics that best complement the show.