Business
LiveOne Announces Record Setting August Paid Membership Growth of 63K
- Added 306K New Tesla Paid Members in First Five Months of FY2024 – a 30% Year-Over-Year Increase - Added 684K New Paid Members Over the Past Year – a 40%
About this update from Liveone, Inc.
[{"type":"text","content":" - Added 306K New Tesla Paid Members in First Five Months of FY2024 – a 30% Year-Over-Year Increase - Added 684K New Paid Members Over the Past Year – a 40% Increase with ARPU of $3+ Per Month - Total Members Increased to 3.26M Including 2.38M Paid Members* - Raises Guidance to 800K - 825K New Paid Members* This Fiscal Year LOS ANGELES, CA, Sept. 14, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - LiveOne (Nasdaq: LVO), an award-winning, creator-first music, entertainment, and technology platform, announced today that it continues to break multiple membership records. LiveOne's CEO and Chairman, Robert Ellin, commented, \"Since acquiring Slacker Radio just five years ago, annual revenue has more than tripled from $20M with a loss of $7M, to more than $60M and very significant EBITDA**. Our B-to-B partnerships, which includes being part of Tesla’s native connectivity app in nearly every new car sold, coupled with our consumer-friendly pricing model, has proven to be a winning combination.” Mr. Ellin continued, “Given our B-to-B success with Tesla, TikTok, Samsung, Facebook and Verizon, we are aggressively expanding our sales and partnership team and expect to add multiple billion-dollar companies to the LiveOne family this year.” About LiveOne, Inc. Headquartered in Los Angeles, California, LiveOne, Inc. (Nasdaq: LVO) (the \"Company\") is an award-winning, creator-first, music, entertainment, and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. The Company's subsidiaries include Slacker Radio, PodcastOne (Nasdaq: PODC), PPVOne, Gramophone Media, Palm Beach Records, CPS, LiveXLive, Drumify and Splitmind. LiveOne is available on iOS, Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV, and through STIRR’s OTT applications. For more information, visit liveone.com and follow us on Facebook, Instagram, TikTok, YouTube and Twitter at @liveone. Forward-Looking StatementsAll statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “would,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” ...