LiveOne (Nasdaq: LVO) Launched Price Increases for Plus and Premium Membership Plans

Rhea-AI Summary

LiveOne (NASDAQ: LVO), a music, entertainment, and technology platform, has announced price increases for its Plus and Premium membership plans. The LiveOne Plus annual price has increased to $39.99 (a $4 per subscriber increase), while the LiveOne Premium monthly price has risen to $10.99 (a $1 per subscriber increase). These adjustments aim to support future product innovation and enhanced content experiences.

With over 4 million ad-supported and paid members, LiveOne is positioned to capitalize on the expected growth of the music streaming market, which is projected to increase from $35 billion to over $100 billion by 2030. CEO Robert Ellin stated that the price adjustment reflects the growing value of their music streaming service and will enable continued product innovation and improved content experiences.

Positive

• Price increases for Plus and Premium membership plans to support product innovation
• Over 4 million ad-supported and paid members
• Positioned to leverage expected growth in the music streaming market from $35 billion to $100 billion by 2030

Negative

• Potential loss of price-sensitive subscribers due to increased membership costs

• LiveOne Plus annual price increased to $39.99 (a $4 per subscriber increase)
  
  
• LiveOne Premium monthly price increased to $10.99 (a $1 per subscriber increase)
  
  
• Price adjustments will support future product innovation and enhanced content experiences

LOS ANGELES, Sept. 06, 2024 (GLOBE NEWSWIRE) --  LiveOne (NASDAQ: LVO), an award-winning, creator-first music, entertainment, and technology platform announced today a price adjustment, effective immediately, for its Plus and Premium membership plans. This change affects all new subscribers to LiveOne Plus on an annual basis and all new monthly subscribers to LiveOne Premium. As of today, LiveOne boasts over 4 million ad-supported and paid members, positioning the company to leverage the growth of the music streaming market which is expected to increase from $35 billion to over $100 billion by 2030.

"Our latest price adjustment reflects the growing value of our music streaming and enables us to continue driving product innovation and deliver enhanced content experiences," said Robert Ellin, CEO and Chairman of LiveOne. “We remain committed to offering some of the most competitive pricing in the music industry while providing an exceptional experience for our B2C and B2B customers."

These changes will support LiveOne in maintaining a leading position in the streaming industry while enhancing its ability to provide high-quality, innovative content for music lovers and superfans.

About LiveOne
Headquartered in Los Angeles, CA, LiveOne (Nasdaq: LVO) is an award-winning, creator-first, music, entertainment, and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. LiveOne's subsidiaries include Slacker Radio, PodcastOne (Nasdaq: PODC), PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify and Splitmind. LiveOne is available on iOS, Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV, and through STIRR’s OTT applications. For more information, visit liveone.com and follow us on Facebook, Instagram, TikTok, YouTube and X at @liveone. For more investor information, please visit ir.liveone.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 ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, 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; LiveOne’s ability to continue as a going concern; LiveOne’s ability to attract, maintain and increase the number of its users and paid members; LiveOne identifying, acquiring, securing and developing content; LiveOne’s intent to repurchase shares of its and/or 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; LiveOne’s ability to maintain compliance with certain financial and other covenants; LiveOne successfully implementing its growth strategy, including relating to its technology platforms and applications; management’s relationships with industry stakeholders; uncertain and unfavorable outcomes in legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of LiveOne’s subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in LiveOne’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, filed with the U.S. Securities and Exchange Commission (the “SEC”) on July 1, 2024, and in LiveOne’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and LiveOne disclaims any obligation to update these statements, except as may be required by law. LiveOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.

LiveOne IR Contact:
Liviakis Financial Communications, Inc.
(415) 389-4670
john@liviakis.com

LiveOne Press Contact:
LiveOne
press@liveone.com

Follow LiveOne on social media: Facebook, Instagram, TikTok, YouTube, and X at @liveone.

FAQ

What are the new prices for LiveOne's Plus and Premium membership plans?

LiveOne (LVO) has increased the annual price of its Plus plan to $39.99 (a $4 increase) and the monthly price of its Premium plan to $10.99 (a $1 increase).

Why did LiveOne (LVO) implement price increases for its membership plans?

LiveOne (LVO) implemented price increases to support future product innovation, deliver enhanced content experiences, and reflect the growing value of its music streaming service.

How many members does LiveOne (LVO) currently have?

As of September 6, 2024, LiveOne (LVO) has over 4 million ad-supported and paid members.

What is the projected growth of the music streaming market according to LiveOne (LVO)?

According to LiveOne (LVO), the music streaming market is expected to grow from $35 billion to over $100 billion by 2030.