Business
LIVEONE ANNOUNCES AUDIO DIVISION GUIDANCE OF $88 MILLION AND $17 MILLION IN ADJUSTED EBITDA FOR FISCAL YEAR 2023
Audio Division Consists of Streaming Music Service, Slacker Radio and Podcast Network, PodcastOneWebcast Scheduled for Tuesday, September 13th at 2pm ET to
About this update from Liveone, Inc.
[{"type":"text","content":"Audio Division Consists of Streaming Music Service, Slacker Radio and Podcast Network, PodcastOneWebcast Scheduled for Tuesday, September 13th at 2pm ET to Introduce Brad Konkol, President of Slacker Radio and Kit Gray, President of PodcastOne LOS ANGELES, Sept. 9, 2022 /PRNewswire/ -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment and technology platform, announced today guidance for its audio division consisting of Slacker Radio and PodcastOne as well as a webcast scheduled for Tuesday, September 13th at 2pm ET.\n\n \n \n \n \n \n \n\n \nRobert Ellin, Chairman and CEO of LiveOne, commented, \"We are pleased to announce that our audio division consisting of streaming music service, Slacker Radio and podcasting network, PodcastOne are expected to achieve revenue in excess of $88 million and approximately $17 million in Adjusted EBITDA* for Fiscal Year 2023, an increase of 18% in revenue from $74.5 Million and 100% in Adjusted EBITDA from $8.8 Million in Fiscal Year 2022.\"\nMr. Ellin continued, \"I am proud of my team that continues to execute on growing paid members for Slacker Radio while enhancing our technology offering with existing auto partners, adding Android Auto partners and solidifying B2B preload partnerships with leading mobile phone manufacturers and wireless carriers. PodcastOne continues to add amazing talent to its robust lineup of podcasts, which is attracting new top-tier advertisers and driving profitable revenue. I applaud our team's resiliency in these turbulent financial markets as they have shifted all their intellectual and financial capital to deliver substantial revenue, cash flow and Adjusted EBITDA in their respective subsidiaries.\"\nLiveOne also updated its company-wide guidance for Fiscal Year 2023 expected to be revenue between $126 million and $129 million and Adjusted EBITDA between $8 million and $11 million.\nSlacker Radio, a Wholly Owned Subsidiary of LiveOne\nRecently surpassed 2.5 Million total members, including 800,000 free members on an ad-supported model**Over 1.7 Million monthly paying members versus 1.48 million at March 31, 2022**2 Million paid members expected by March 2023**Recently Launched Android Automotive App to reach next generation connected vehiclesPodcastOne, a Wholly Owned Subsidiary of LiveOne\nPodcastOne posted record revenue of $8.7 milli...