LiveOne reports 55% increase in Tesla users, surpassing 700K, with significant new B2B partnerships, including Amazon.
Quiver AI Summary
LiveOne announced a significant milestone in its user base, reporting a 55% increase in Tesla users, surpassing 700,000 since January 1st, with over 350,000 using the ad-supported free version. The company has also secured over $40 million in new business-to-business (B2B) partnerships, including a notable collaboration with Amazon, and its B2B pipeline has expanded to more than 70 companies. Chairman and CEO Robert Ellin is scheduled to present a business update at Mar-A-Lago, Florida, on January 31, 2025. LiveOne is a creator-focused entertainment and technology platform headquartered in Los Angeles, offering a variety of content through its subsidiaries across multiple platforms.
Potential Positives
- Highlighting a 55% increase in Tesla users, now over 700K+, signifies robust user growth and market engagement.
- Of the 700K+ Tesla users, 350K+ are ad-supported, showing a diverse revenue model.
- Achievements include $40+ million in new B2B partnerships, indicating successful business development efforts.
- The expansion of the B2B pipeline to over 70 companies reflects strong future growth potential.
Potential Negatives
- LiveOne's significant reliance on a major OEM customer for a large percentage of its revenue poses potential risks, particularly if that relationship were to change or diminish.
- The press release contains extensive forward-looking statements that outline several risks and uncertainties, indicating an underlying lack of financial stability and operational challenges.
- There is uncertainty regarding LiveOne's ability to continue as a going concern, which could impact investor confidence and company valuation.
FAQ
What milestone did LiveOne recently achieve with Tesla users?
LiveOne has surpassed 700,000 Tesla users, with 350,000 of them being free ad-supported users.
How much revenue has LiveOne generated from new B2B partnerships?
LiveOne has generated over $40 million from new B2B partnerships, including a significant collaboration with Amazon.
What are LiveOne's core services and offerings?
LiveOne offers music and entertainment services through memberships and live virtual events, including subsidiaries like Slacker Radio and PodcastOne.
Where can users access LiveOne's services?
LiveOne is available on Tesla vehicles as well as major platforms like iOS, Android, Roku, and more.
Who is presenting LiveOne’s business update?
LiveOne's Chairman and CEO, Robert Ellin, will present the business update at Trump Mar-O-Lago, Florida.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LVO Hedge Fund Activity
We have seen 37 institutional investors add shares of $LVO stock to their portfolio, and 24 decrease their positions in their most recent quarter.
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- BLACKROCK, INC. added 774,288 shares (+18.5%) to their portfolio in Q3 2024, for an estimated $734,644
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- NO STREET GP LP removed 251,161 shares (-29.5%) from their portfolio in Q3 2024, for an estimated $238,301
- GEODE CAPITAL MANAGEMENT, LLC added 164,361 shares (+9.7%) to their portfolio in Q3 2024, for an estimated $155,945
- RELYEA ZUCKERBERG HANSON LLC removed 158,137 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $232,461
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Full Release
- Highlighting a 55% Increase in Tesla Users, Now Over 700K+ Since Jan. 1st
- Including 350K+ Ad-Supported Tesla Users
- $40+M in New B2B Partnerships, including Amazon
- B2B Pipeline Expands to Over 70 Companies
LOS ANGELES, Jan. 31, 2025 (GLOBE NEWSWIRE) -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment, and technology platform, is pleased to report Chairman and CEO, Robert Ellin, will be presenting at Trump Mar-O-Lago, Florida, January 31 st , a business update highlighting that it has surpassed a milestone of 700,000+ Tesla users. Of those users, 350,000 are free ad-supported users.
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 Radio, PodcastOne (Nasdaq:
PODC
), PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify and Splitmind. LiveOne is available in Tesla vehicles and 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
. 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,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: LiveOne’s reliance on its largest OEM customer for a substantial percentage of its revenue; LiveOne’s ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, the timing of the consummation of any such proposed event, including the risks that a condition to the consummation of any such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, merger, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; LiveOne’s ability to continue as a going concern; LiveOne’s ability to attract, maintain and increase the number of its users and paid members; LiveOne identifying, acquiring, securing and developing content; LiveOne’s intent to repurchase shares of its and/or PodcastOne’s common stock from time to time under LiveOne’s announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; LiveOne’s ability to maintain compliance with certain financial and other covenants; LiveOne successfully implementing its growth strategy, including relating to its technology platforms and applications; management’s relationships with industry stakeholders; LiveOne’s ability to extend and/or refinance its indebtedness and/or repay its indebtedness when due; uncertain and unfavorable outcomes in legal proceedings and/or LiveOne’s ability to pay any amounts due in connection with any such legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of LiveOne’s subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in LiveOne’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, filed with the U.S. Securities and Exchange Commission (the “SEC”) on July 1, 2024, Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with SEC on November 14, 2024, and in LiveOne’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and LiveOne disclaims any obligation to update these statements, except as may be required by law. LiveOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
LiveOne IR Contact:
Liviakis Financial Communications, Inc.
(415) 389-4670
[email protected]
LiveOne Press Contact:
LiveOne
[email protected]
Follow LiveOne on social media: Facebook, Instagram, TikTok, YouTube, and Twitter at @liveone .