Business
LIVEONE AFFIRMS RECORD REVENUE OF AT LEAST $112 MILLION FOR FY 2022
MARCH 31, 2022 ENDED WITH TOTAL MEMBERS REACHING A RECORD 2.23 MILLION** 1.48 MILLION** TOTAL PAID MEMBERS 750,000 TOTAL FREE MEMBERS LiveOne Maintains
About this update from Liveone, Inc.
[{"type":"text","content":"MARCH 31, 2022 ENDED WITH TOTAL MEMBERS REACHING A RECORD 2.23 MILLION**\n1.48 MILLION** TOTAL PAID MEMBERS\n750,000 TOTAL FREE MEMBERS\nLiveOne Maintains Guidance to Achieve Positive Adjusted EBITDA* in Q1 FY 2023 Ending June 30, 2022; Maintains Revenue Guidance for FY 2023 of Between $125 - $140 Million and Adjusted EBITDA* Between $4 Million - $8 Million\nLiveOne Added a Record of Over 52K New Paid Members in March 2022 Through Conversion From Free Members, Live Events, Merchandise Purchases, Ticket Buyers & Expansion into Connected Vehicles \nFY 2022 Had Over 300 Sponsors for LiveOne's Content & Events\nLiveOne's Spring Awakening Music Festival 10th Anniversary Tickets Presale Sold Out\nLiveOne's Wholly-Owned PodcastOne Ranked #8 by Podtrac in February 2022 \nSocial Media Engagement Across All LiveOne Platforms Soared Over 154% \nTesla Added a Record Number of LiveOne Memberships During Q4 FY 2022\nLOS ANGELES, April 5, 2022 /PRNewswire/ -- LiveOne (Nasdaq: LVO), a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced today its largest month of paid membership growth as over 52,000 new paid members were added in March 2022. This record monthly membership growth was driven by the expansion into connected vehicles, conversion of free members from live events, merchandise purchases, ticket buyers and general marketing campaigns. As of April 1, 2022, total membership was a record 2.23 million** of which 1.48 million** were paid memberships.\n\n \n \n \n \n \n \n\n \nLiveOne also confirms its guidance to achieve record revenue of at least $112 million for FY 2022 ended March 31, 2022, an anticipated increase of approximately 72% as compared to revenue of $65.2 Million in FY 2021.\n\"With oil prices over $100 a barrel, the world has awakened to how important automated cars have become, and we have seen incredibly strong demand from Tesla and other partners. We expect this strong trend to continue and to deliver another quarter of record new membership adds in the current June quarter,\" said Robert Ellin, CEO and Chairman of LiveOne.\nSince April 1, 2021, LiveOne has achieved the following:\nLivestreamed over 631 artists across the entire LiveOne platformStreamed over 126 virtual eventsLaunched 42 PPVsLi...