LiveOne updates on its partnership with Tesla, announcing 350,000 paid subscribers and enhanced user engagement through AI technology.
Quiver AI Summary
LiveOne has announced significant progress in its multi-year partnership with Tesla, reporting 350,000 paid subscribers as of December 15, 2024. CEO Robert Ellin expressed enthusiasm about leveraging their technology, including AI, to create personalized user experiences that enhance engagement and business growth. LiveOne, based in Los Angeles and listed on Nasdaq, focuses on music, entertainment, and technology, providing premium content through various platforms and subsidiaries. The company is actively involved in live and virtual events and offers its services on multiple devices. The press release also includes forward-looking statements that highlight potential risks and factors that could impact future performance.
Potential Positives
- LiveOne has achieved 350,000 paid subscribers as of December 15th, indicating significant growth in its user base.
- The partnership with Tesla allows LiveOne to leverage its entire tech stack, including AI, to enhance user engagement and drive business growth.
- This collaboration exemplifies a strong relationship with a major OEM, potentially securing a substantial percentage of LiveOne's revenue.
- The press release emphasizes LiveOne's commitment to delivering premium experiences and content worldwide, reinforcing its market position in the entertainment and technology sectors.
Potential Negatives
- LiveOne relies on its largest OEM customer for a substantial percentage of its revenue, indicating potential vulnerability to changes in that relationship.
- There are significant risks regarding LiveOne's ability to continue as a going concern and to maintain financial compliance, raising concerns about the company's future stability.
- The mention of uncertainties in legal proceedings could overshadow the company's progress and lead to reputational issues or financial liabilities.
FAQ
What is the main focus of LiveOne's partnership with Tesla?
LiveOne's partnership with Tesla focuses on leveraging technology, including AI, to enhance user experience and engagement.
How many paid subscribers has LiveOne achieved as of December 15th, 2024?
As of December 15th, 2024, LiveOne has achieved 350,000 paid subscribers through its partnership with Tesla.
Where is LiveOne headquartered?
LiveOne is headquartered in Los Angeles, California.
How can users access LiveOne's services?
Users can access LiveOne's services on various platforms including iOS, Android, Roku, Apple TV, and Spotify.
What should investors know about LiveOne's forward-looking statements?
Investors should note that LiveOne's forward-looking statements involve risks and uncertainties and do not guarantee future results.
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
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Full Release
LOS ANGELES, Dec. 18, 2024 (GLOBE NEWSWIRE) -- LiveOne (
Nasdaq: LVO
), an award-winning, creator-first, music, entertainment, and technology platform, announced today an update with respect to their multi-year partnership with Tesla.
"We are thrilled with the tremendous progress we've made in collaboration with Tesla, having already achieved, as of December 15th, 350,000 paid subscribers”, said Robert Ellin, CEO of LiveOne. "This partnership allows us to leverage our entire tech stack, including AI, to deliver highly personalized experiences, further enriching our users' engagement and driving business growth.”
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 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 the 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
john@liviakis.com
LiveOne Press Contact:
LiveOne
press@liveone.com
Follow LiveOne on social media: Facebook, Instagram, TikTok, YouTube, and Twitter at
@liveone
.
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
