LiveOne's (Nasdaq: LVO) Tesla Partnership Surpasses Projections with Over 600,000 Users, 33% Increase Since Jan. 1st

Rhea-AI Summary

LiveOne (LVO) has announced significant growth in its Tesla partnership, reaching over 600,000 Tesla users, marking a 33% increase since January 1st. The company revealed that more than 275,000 of these users are on the ad-supported tier. In addition, LiveOne has secured $40+ million in B2B partnerships over the past 60 days and expanded its B2B pipeline to include over 70 companies.

The company is leveraging AI and data mining capabilities to monetize its user database. CEO Robert Ellin highlighted the company's cross-device music experience and expressed confidence in signing additional partnerships throughout the year, emphasizing the scalable growth potential and new revenue streams from their business model.

Positive

• 33% user growth in Tesla partnership since January 1st, reaching 600,000 users
• Secured $40+ million in B2B partnerships in last 60 days
• Expanded B2B pipeline to over 70 companies
• 275,000+ ad-supported users creating new revenue stream

Negative

• None.

News Market Reaction

+9.57%

1 alert

+9.57% News Effect

On the day this news was published, LVO gained 9.57%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

- New Users Include 275K+ Ad-Supported

- Signed $40+M in B2B Partnerships last 60 Days

- B2B Pipeline Expands to Over 70 Companies

- Utilizing AI and Data Mining to Monetize Database

LOS ANGELES, Jan. 23, 2025 (GLOBE NEWSWIRE) -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment, and technology platform, announced today that it has surpassed a milestone of over 600,000 Tesla users. Of those users, over 275,000 are ad-supported users. In addition, the company reported an increase in B2B potential partnerships in their pipeline.

Robert Ellin, Chairman and CEO of LiveOne commented, "We're excited to expand our partnership with Tesla, delivering a portable, cross-device music experience. This is an explosive start to the year. Our new ad-supported offering is yielding promising results, and our latest $40M+ B2B partnerships announced over the last few months demonstrates our model's potential for scalable growth and new revenue streams. We are confident that we will continue to sign many more partnerships throughout the year.”

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 in Tesla vehicles and 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 Twitter 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 its largest OEM 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; LiveOne’s ability to extend and/or refinance its indebtedness and/or repay its indebtedness when due; uncertain and unfavorable outcomes in legal proceedings and/or LiveOne’s ability to pay any amounts due in connection with any such 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, Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with SEC on November 14, 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 Twitter at @liveone.

FAQ

How many Tesla users does LiveOne (LVO) currently have?

LiveOne has surpassed 600,000 Tesla users, with over 275,000 being ad-supported users.

What is the value of LiveOne's (LVO) recent B2B partnerships?

LiveOne has signed over $40 million in B2B partnerships in the last 60 days.

How much has LiveOne's (LVO) Tesla user base grown since January 1st?

LiveOne's Tesla user base has increased by 33% since January 1st.

How many companies are in LiveOne's (LVO) B2B pipeline?

LiveOne's B2B pipeline has expanded to include over 70 companies.

What percentage of LiveOne's (LVO) Tesla users are ad-supported?

Over 275,000 users out of 600,000 total Tesla users (approximately 46%) are ad-supported.