Business
PodcastOne Reports Revenue of $31.6M (+22% YoY) and Adjusted EBITDA* of $405K for First Nine Months Fiscal 2024
Revenue of $10.4M for Q3 Fiscal 2024Successfully Closed an 8 figure Annual Revenue B2B partnership with a Fortune 500 companyRanked 10th in PODTRAC Top
About this update from Podcastone, Inc.
[{"type":"text","content":"Revenue of $10.4M for Q3 Fiscal 2024Successfully Closed an 8 figure Annual Revenue B2B partnership with a Fortune 500 companyRanked 10th in PODTRAC Top Publishers for January 2024U.S. Unique Monthly Audience of ~5.3 million and Global Downloads and Streams of ~19.2 million24 New Podcasts added in FY2024, with ~100 in the Pipeline and ~10 Acquisitions in the PipelineSenior Management Will Host a Live Conference Call and Audio Webcast Beginning at 11:30 A.M. ET on Thursday, February 8, 2024 LOS ANGELES, CA, Feb. 08, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- PodcastOne (Nasdaq: PODC), a leading podcast platform and a subsidiary of LiveOne (Nasdaq: LVO), which owns ~73% of the PODC outstanding common stock, announced today its operating results for the third fiscal quarter of its fiscal year ending March 31, 2024 (“Q3 Fiscal 2024”). PodcastOne’s President and Co-Founder, Kit Gray, commented, “We are incredibly excited about what we have accomplished in FY2024, and for what we will accomplish in FY2025. The enthusiasm within the organization is palpable as we set our sights on another record-breaking year ahead. The combination of organic growth and transformational opportunities through acquiring podcast shows, podcast networks, and other partnership opportunities will enable us to achieve new milestones and reach unprecedented heights.” Recent and Q3 Fiscal 2024 Highlights Launched Varnamtown, a podcast with derivative IP rights, hosted by award winning actor Kyle MacLachlan and investigative journalist Joshua Davis has soared to the top of Apple podcast charts, ranking 5th overall for new podcasts, top 10 in the highly competitive True Crime category and ranking as high as top 25 across all podcasts available for download on Apple.LiveOne currently owns approximately 73% of PodcastOne and it will continue to consolidate PodcastOne’s financial results.PodcastOne became the first podcast network to grant its podcast talent and all company employees shares of PodcastOne stock as part of its NASDAQ ListingPodcastOne was ranked 10th in PODTRAC’s Podcast Industry Top Publishers Rankings for January 2024 with a U.S. Unique Monthly Audience of ~5.3 million and Global Downloads and Streams of ~19.2 million. PodcastOne has increased its slate of exclusive shows to 178 original titles. Q3 Fiscal 2024 vs Q3 Fiscal 2023 Results Summary (in ...