Business
LiveOne (Nasdaq: LVO) Signs Strategic B2B Partnership With Fortune 500 Media Conglomerate; Partnership Delivers Minimum $20 Million Revenues for Calendar 2024
- Company Raises Revenue Guidance for Fiscal 2024 ending March 31, 2024 to $118M - $120M - Increases Current Pipeline to Over 35 Potential B2B Partnerships
About this update from Liveone, Inc.
[{"type":"text","content":"- Company Raises Revenue Guidance for Fiscal 2024 ending March 31, 2024 to $118M - $120M\n- Increases Current Pipeline to Over 35 Potential B2B Partnerships Across 8 Verticals\n \nLOS ANGELES, CA - (NewMediaWire) - December 15, 2023 - LiveOne (Nasdaq: LVO), an award-winning, creator-first music, entertainment, and technology platform, announced today a new significant partnership agreement as well as updated revenue guidance for its current fiscal year ending March 31, 2024 (\"Fiscal 2024\").\nRobert Ellin, Chairman and CEO of LiveOne, commented, \"We are excited to have entered into a new partnership with one of the world's great media conglomerates, immediately adding a meaningful amount of monthly recurring revenue to our existing business. Given our vertically integrated platform, every new partnership has enormous potential and this latest is another within our eight targeted B2B verticals.\nMr. Ellin continued, \"We are also thrilled to provide updated revenue guidance for Fiscal 2024 and we are extremely optimistic about continued strong revenue growth and execution on our business plan through Fiscal 2025.\"\nThe anticipated financial results discussed in this press release are based on management's preliminary expectations. During the course of LiveOne's quarter-end and fiscal year-end closing procedures and review process, LiveOne may identify items that would require it to make adjustments, which may be material, to the information presented above. As a result, the estimates above constitute forward-looking information and are subject to risks and uncertainties, including possible adjustments to preliminary financial results.\nAbout LiveOne, Inc.\nHeadquartered 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, Palm Beach Records, CPS, LiveXLive, DayOne Music Publishing, 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 an...