LOS ANGELES - LiveOne (NASDAQ: LVO), a music, entertainment, and technology platform, has reported a significant increase in its user base, with total membership now exceeding 3.8 million—a 25% increase compared to the previous year. The company, which also operates Slacker Radio and PodcastOne, highlighted a particularly strong performance in its Tesla (NASDAQ:TSLA) membership, which saw a 32% year-over-year growth to reach 1.8 million.
In addition to its membership growth, LiveOne is projecting an expansion of over 1 million members for the calendar year 2024. This optimistic forecast aligns with the company's announcement of four new multi-year major partnerships, which are part of an expanding business-to-business (B2B) pipeline now comprising over 60 deals. These partnerships are expected to be unveiled at their respective launches, marking a strategic move to deepen engagement with businesses and consumers through customized audio experiences.
Brad Konkol, Head of Slacker Radio, expressed satisfaction with the company's growth trajectory, attributing it to the strength of LiveOne's collaborative B2B partnerships. Konkol emphasized the importance of innovation and tailored programming in building strong relationships with companies that align with LiveOne's commitment to delivering value to customers.
LiveOne, known for its creator-first approach, has received industry recognition, including a Digiday award for the "Social Gloves" pay-per-view event. Despite this positive momentum, the company's forward-looking statements caution investors about the potential risks and uncertainties that could impact future performance. These include reliance on key customers, the ability to finalize proposed transactions, and maintaining user and member growth, among other factors.
The company's recent achievements and future plans are based on information provided in a press release statement. LiveOne's stock performance and investor relations will likely continue to be influenced by its ability to execute its growth strategy and maintain its innovative edge in the competitive entertainment and technology landscape.
In other recent news, LiveOne Inc., an entertainment and technology platform, has made some significant moves. The company has announced the repurchase of 4.1 million shares, including 266,000 since April, at an average price of $1.875. This leaves $4.75 million remaining from its authorized $10 million share repurchase program. LiveOne also anticipates joining the Russell 2000 Index in June, a development that could increase institutional ownership.
In addition, LiveOne has announced a modest increase in its membership fees, the first such adjustment in ten years. The change, a $0.50 to $1 increase for select offerings, is expected to support the expansion of original content, live streaming, pay-per-view experiences, and AI initiatives. This move is seen as a strategic step to solidify LiveOne's position in the audio and entertainment sector.
These are just the latest developments for LiveOne, which remains committed to aligning the company's interests with those of its shareholders and creating value for its investors. The company's actions reflect its confidence in its future prospects and its belief that its stock is undervalued.
InvestingPro Insights
As LiveOne (NASDAQ: LVO) continues to expand its user base and secure new partnerships, its financial metrics and market performance provide additional context for investors. According to the latest data from InvestingPro, LiveOne's market capitalization stands at 162.91 million USD, reflecting the market's current valuation of the company.
An important aspect for investors to consider is the company's profitability. With a negative P/E ratio of -12.41 and an adjusted P/E ratio for the last twelve months as of Q4 2024 at -13.72, LiveOne is not currently profitable. Moreover, the company's revenue for the same period was 118.44 million USD, showing a revenue growth of 18.9%, which could be indicative of the company's ability to expand its business despite the lack of current profitability.
InvestingPro Tips for LiveOne suggest that the stock price has experienced significant volatility, with a large price uptick of 59.81% over the last six months. This could be of interest to investors looking for growth potential in their portfolio. Moreover, the company does not pay dividends, which may influence investment decisions for those seeking regular income streams.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available which can provide more insights into LiveOne's financial health and market position. With the use of coupon code PRONEWS24, interested investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable insights.
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