Business
LiveOne (Nasdaq: LVO) Raises 2026 Cost Savings Target from $5M to $7.5M ($3.5M Completed); Increases Payables Conversion Target from $11M to $13M+ at $7.50 per share ($5M Completed)
Deploys AI (Anthropic Claude, OpenAI) to Slash Costs, Reduce Workforce from 350 to 78 (~19% Reduction this Quarter), Drive All Subsidiaries to Positive
About this update from Liveone, Inc.
[{"type":"text","content":"Deploys AI (Anthropic Claude, OpenAI) to Slash Costs, Reduce Workforce from 350 to 78 (~19% Reduction this Quarter), Drive All Subsidiaries to Positive Adjusted EBITDA*\nAdditional ~$1.5M CPS savings expected by year-endLaunching two new Fortune 500 B2B partnerships reaching 100M+ monthly subscribers~$5.7M remaining under share repurchase planAcquired 900k+ shares of PodcastOne (Nasdaq: PODC) LOS ANGELES, March 18, 2026 (GLOBE NEWSWIRE) -- LiveOne, Inc. (Nasdaq: LVO), a creator-first, music, entertainment and technology platform, today announced that it has increased its projected 2026 cost savings target to more than $7.5 million, driven by continued operational efficiencies and workforce optimization initiatives. The Company also expanded its payables conversion initiative to more than $13 million at $7.50 per share, further strengthening its balance sheet. “We continue to exceed our cost reduction targets while strengthening our balance sheet and positioning the Company for scalable, profitable growth,” said Robert Ellin, Chairman and CEO of LiveOne. “Our investments in AI-driven efficiencies, combined with expanding strategic partnerships, are driving meaningful operating leverage across the business.” About LiveOne Headquartered in Los Angeles, CA, LiveOne (Nasdaq: LVO) 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. LiveOne's subsidiaries include Slacker, PodcastOne (Nasdaq: PODC), PPVOne, Custom Personalization Solutions, LiveXLive, DayOne Music Publishing, Drumify and Splitmind. LiveOne, a dedicated over-the-top application powered by Slacker, 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 X at @liveone. For more investor information, please visit ir.liveone.com. Forward-Looking Statements All 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,” “e...