Business
LiveOne’s Buyback Exceeds 2,245,000 Shares
- Leaving Capacity to Repurchase an Additional $1,700,000 Worth of Stock - Los Angeles, CA, March 31, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – LiveOne
About this update from Liveone, Inc.
[{"type":"text","content":" - Leaving Capacity to Repurchase an Additional $1,700,000 Worth of Stock - Los Angeles, CA, March 31, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – LiveOne (Nasdaq: LVO), an award-winning, creator-first music, entertainment, and technology platform, announced today that it has thus far repurchased 245,414 shares of its common stock since resuming its expanded stock repurchase program on March 16, 2023. Since April 1, 2022, LiveOne has repurchased over 2,245,000 shares under the program. Robert Ellin, LiveOne's CEO and Chairman, commented, \"We believe the current stock price is extremely undervalued and we will continue to aggressively buy back additional shares.” 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 wholly-owned subsidiaries include Slacker Radio, a membership music streaming service, and PodcastOne, which generates more than 2.3 billion downloads per year, 350+ hours distributed weekly, and 14M+ monthly unique listeners. Nearly all new Tesla EVs sold in the U.S. come with a paid membership to LiveOne’s Slacker Radio (that now includes PodcastOne) which is paid by Tesla. As of March 3, 2023, the Company has accrued a paid and free ad-supported membership base of approximately 2.85 million**. The Company was awarded Best Live Moment by Digiday for its “Social Gloves” PPV Event, and has been a finalist for 8 more awards, including Best Live Event, Best Virtual Event, Best Overall Social Media Excellence, and Best Original Programming from Cynopsis and Digiday. As of February 9, 2023, the Company has streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, over 300 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and created a valuable connection between fans, brands, and bands. The Company's other wholly-owned subsidiaries include PPVOne, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, and LiveXLive, and the Company’s other majority-owned subsidiaries are Drumify and Splitmind. LiveOne is available on iOS, Android, Roku, Apple TV, Amazon Fire, and t...