Liveone Inc Stock Price, News & Analysis

LiveOne (NASDAQ: LVO) announced its subsidiary DayOne Music Publishing's acquisition of a majority interest in Splitmind, a renowned music collective, on February 28, 2023. This strategic move adds 40,000 copyrights and approximately 2 billion streams to LiveOne's catalog, including works from prominent artists like Drake and Chris Brown. The collaboration is expected to enhance LiveOne's market positioning, offering new revenue streams for creatives through Drumify, an innovative platform for sound sharing. LiveOne aims to leverage these assets to expand its user base and solidify its role in the music entertainment industry.

LiveOne has extended the record date to March 10, 2023 for a special dividend consisting of 5% to 10% of PodcastOne’s common stock to its 15,000+ shareholders. The move is part of the planned spin-out of PodcastOne, which is expected to start trading on a national exchange by March 31, 2023. An independent valuation by ValueScope estimates PodcastOne’s equity value at $230 million to $274 million as of December 31, 2022. The actual payment date of the special dividend will be determined after SEC approval of the registration statement. The spin-out and dividend are subject to regulatory conditions.

LiveOne's subsidiary, Palm Beach Records (PBR), celebrates its second Double-Platinum success with Kodak Black, achieving over 1 billion streams across various singles. The Recording Industry Association of America awarded PBR for mixing Kodak Black's hit 'No Flockin’,' which has surpassed 339 million Spotify streams. Additionally, 'Lockjaw' also attained Double-Platinum status with over 161 million streams. PBR, which has mixed for numerous artists, is poised for further collaboration within LiveOne’s ecosystem to enhance production of podcasts and vodcasts.

LiveOne (NASDAQ: LVO) has partnered with VersusGame to introduce skill-based gaming on PodcastOne. This new initiative will enhance listener engagement and monetization through MiniGames that allow users to answer prediction questions for rewards. The gamification strategy aims to increase audience retention, with reported engagement rates of 27% and click-through rates of 55.6%. PodcastOne plans to leverage social media to share gamified content and expand its reach. This move aligns with the growing demand for innovative content in podcasting, providing fans a unique way to interact with their favorite shows.

LiveOne (LVO) reported Q3 Fiscal 2023 revenue of $27.3M, down from $32.9M year-over-year, primarily due to decreased event revenue. However, the Audio Division achieved record revenue of $22M, contributing to a $9.4M Adjusted EBITDA for the first nine months of FY2023. The company raised its Adjusted EBITDA guidance to $11M-$12M for FY2023. LiveOne also announced a $2M stock repurchase program and saw a significant increase in paid memberships, reaching 1.96M, a 40% increase year-over-year. Despite a net loss of $5.3M for the nine-month period, the management highlighted operational optimization and reduced expenses.

LiveOne (NASDAQ: LVO) has restructured and rebranded its clothing subsidiary to CPSOne, investing $2M to enhance profitability. This move includes a partnership with fashion expert Michael Schnieder aimed at consolidating streetwear and celebrity brands, such as athletic footwear and casual wear. CEO Robert Ellin expressed enthusiasm for the collaboration, noting Schnieder's brand-building expertise. As of January 17, 2023, LiveOne boasts 2.7 million members and a diverse content library, including 30 million songs and more than 300 podcasts.

LiveOne (NASDAQ: LVO) announced a significant debt restructuring, converting $21 million of debt into preferred stock convertible to common shares at $2.10 each. This step, along with anticipated annual cost savings of over $30 million for the fiscal year ending March 31, 2023, positions the company for its strongest financial standing to date, according to CEO Robert Ellin. The comprehensive details of this transaction are available in LiveOne’s Current Report on Form 8-K filed with the SEC.

LiveOne (NASDAQ: LVO) will announce its fiscal 2023 third-quarter financial results for the period ending December 31, 2022, on February 9, 2023, at 10:30 AM ET. A live conference call will follow, allowing senior management to provide insights and details on performance metrics. As of January 17, 2023, LiveOne reported a membership base of 2.73 million across paid and ad-supported segments, streaming over 2,900 artists with a catalog of 30 million songs. The company's diverse offerings include podcasts, radio stations, and music-related NFTs, highlighting its commitment to premium content delivery.