Liveone Inc Stock Price, News & Analysis

LiveOne (Nasdaq: LVO) announced significant growth in its paid memberships, surging by over 587,000 in the last year and 100,000 in just two months in 2023, reaching a record total of 2.85 million members. The company attributes this expansion to partnerships with brands like Tesla, which includes a membership to LiveOne's Slacker Radio with new EV purchases. LiveOne also reported 2.3 billion podcast downloads annually and over 14 million unique monthly listeners. However, they currently do not recognize revenue from members involved in a contractual dispute. CEO Rob Ellin emphasizes the strategy of forming further partnerships to enhance content delivery.

LiveOne (NASDAQ: LVO), a leading music and entertainment platform, will participate in the 35th Annual Roth Conference on March 13-14, 2023, at The Ritz Carlton, Laguna Niguel, California. CEO Robert Ellin will hold one-on-one investor meetings throughout the event. LiveOne specializes in creator-first content delivery and has subsidiaries like Slacker Radio and PodcastOne, achieving over 2.3 billion downloads annually and a membership base of approximately 2.8 million. The company was recognized with awards for excellence in live events and its innovative partnerships, including offering memberships with new Tesla EVs.

LiveOne (NASDAQ: LVO) has renewed partnerships with top podcasts including The Adam Carolla Podcast, The Jordan Harbinger Show, and LADYGANG. These programs have collectively achieved over 1 billion downloads, showcasing their popularity. LiveOne's initiative aims to maintain strong relationships with its podcast partners, ensuring continued engagement in the growing digital audio space. The company boasts a library of over 30 million songs and has a membership base of approximately 2.8 million, emphasizing its leading position in the podcast and entertainment market.

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.