Business
LiveOne (Nasdaq: LVO) Announces Strategic Price Raise After 10 Years of Stability
LVO Raising Select Membership Offerings by $0.50- $1, Significantly Below Industry Pricing TrendsLOS ANGELES, CA - (NewMediaWire) - April 30, 2024 - LiveOne
About this update from Liveone, Inc.
[{"type":"text","content":"LVO Raising Select Membership Offerings by $0.50- $1, Significantly Below Industry Pricing TrendsLOS ANGELES, CA - (NewMediaWire) - April 30, 2024 - LiveOne (NASDAQ: LVO) an award-winning, creator-first music, entertainment, and technology platform today announced a targeted price refinement of $0.50-$1 for select membership offerings, significantly below recent industry benchmarks. This adjustment marks the first price change in a decade and demonstrates the companys commitment to continued innovation and progression.With over 3.7 million ad-supported and paid members, including 1.7 million Tesla owners, LiveOne is poised to capitalize on the projected growth of the music streaming market from $35 billion to over $100 billion by 2030.This price refinement will enable the company to:Expand its slate of original contentEnhance live streaming and pay-per-view experiencesAdvance cutting-edge AI initiativesBroaden channel expansion and music publishing endeavorsStrengthen Celebrity Brand collaborationsContinue to expand and monetize partnership pipeline of over 60 B2B deals\"We're dedicated to revolutionizing the audio experience, said Robert Ellin, CEO of LiveOne. This strategic price raise will fuel our growth initiatives, solidify our position as a leader in audio and entertainment, and continue to offer the best value to our customers.\"LiveOne remains committed to providing the most competitive pricing in the music industry, while driving innovation and expansion in the live streaming space.About LiveOne, Inc.LiveOne, Inc. is an award-winning, creator-first, music, entertainment, and technology platform delivering premium experiences and content worldwide. With subsidiaries like Slacker Radio and PodcastOne, LiveOne has garnered accolades for its innovative approach, including the Best Live Moment award by Digiday for the \"Social Gloves\" PPV Event.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 or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncerta...