LiveOne (Nasdaq: LVO) Subsidiary CPSOne Announces Strategic Partnership With Gifts For You, Saving $5.7M Annually

PUBLISHED
MAY 8, 2024 9:00AM EDT
LOS ANGELES, CA – (NewMediaWire) – May 08, 2024 – LiveOne (NASDAQ: LVO) has signed a 3-year partnership with Gifts for You which will take over the manufacturing and distribution of LiveOnes current $8M merchandise business.

This transaction reduces the number of CPSOne employees and consultants by over 75% as well as eliminates the need for a 55,000 square foot facility.

Robert Ellin, CEO, commented: “Our merchandise team is now fully concentrated on creator brands (LiveOne Brands) for their superfans. All our subsidiaries are now positioned to achieve positive cash flow and EBITDA.

About LiveOne, Inc.

LiveOne, Inc. is an award-winning, creator-first, music, entertainment, and technology platform delivering premium experiences and content worldwide. With subsidiaries like Slacker Radio and PodcastOne, LiveOne has garnered accolades for its innovative approach, including the Best Live Moment award by Digiday for the “Social Gloves” PPV Event.

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