LiveOne’s (Nasdaq: LVO) Partnership with Tesla Surpasses 350K Paid Subscribers; Reports $16M Current Cash Position
PodcastOne
Mon, December 9, 2024 at 5:30 AM PST
Initial Brands Include MotorTrend and LoveSac Leveraging PodcastOne Pro for Studio Space, Production, Strategy, Marketing and Distribution
LOS ANGELES, Dec. 09, 2024 (GLOBE NEWSWIRE) — PodcastOne (NASDAQ: PODC), a leading publisher, podcast sales network and a subsidiary of LiveOne (NASDAQ: LVO), has officially launched PodcastOne Pro, a full service solution that specializes in transforming podcasts into polished on-air productions for brands and professionals.
PodcastOne Pro offers customizable services, with à la carte options to meet exact production needs, or a full 360° solution. Services include access to top-of-the-line podcasting studios and equipment (audio and video), strategy, program production, editing, guest booking, distribution, paywall options and promotion across PodcastOne’s existing network of podcasts.
With global podcast listeners expected to surpass one billion by 2027 according to MIDiA Research, PodcastOne is quickly becoming the platform of choice and is currently ranked 13th in Podtrac’s Podcast Industry Top Publishers Rankings for November 2024. As reported in the Q2 fiscal 2025 financial results, PodcastOne expects Fiscal 2025 revenues to increase at least 17% to a record of at least $51.0 million.
“As the only public pure-play podcast company in the United States, PodcastOne is uniquely positioned to help brands, businesses and content creators reach their target audiences more effectively while keeping loyal podcast listeners entertained and engaged,” said Jim Lally, Head of Business Development for PodcastOne. “Branded podcasts are financially and logistically challenging for many companies to produce in-house. With the official launch of PodcastOne Pro, we’re able to offer a tailored podcast production solution to our clients that leverages our current infrastructure, which ultimately, drives higher margins, diversifies our revenue streams, and lowers costs for clients,” continued Mr. Lally.
PodcastOne Pro currently services category leading brands such as MotorTrend, Boost Mobile, Microsoft and LoveSac who are leveraging podcasts to build brand loyalty and connect directly to consumers through the U.S.’s fastest growing medium, podcasting. Numerous studies have proven that podcast audiences connect with products on a level not seen in traditional advertising and marketing mediums.
Coinciding with the launch of PodcastOne Pro, PodcastOne is set to debut its new state of the art podcast production studio in Beverly Hills. Elevating the production experience with cutting-edge audio and video capabilities, this fully equipped facility offers industry-leading technology, ensuring top-tier production quality for both audio and video content. The new studio enables creators to seamlessly produce, record, and broadcast their shows with unmatched clarity and precision. With versatile setup options and accommodating a wide range of podcast formats from solo recordings to multi-guest interviews. PodcastOne continues to push the boundaries of podcasting, providing creators with the tools they need to deliver premium content to their audiences.
“The production behind podcasting has evolved rapidly in the last several years with the incredible uptick in consumer consumption of the medium. We are excited to be able to offer top of the line production facilities and to collaborate with our own Jackie Schimmel (host of Bitch Bible) on the design for the space, creating a dream recording environment for podcasting,” said Stacie Parra and Alistair Walford, Heads of Production for PodcastOne and PodcastOne Pro.
To learn more about PodcastOne Pro or get a quote for plans starting at $500, please visit www.podcastonepro.com.
About PodcastOne
PodcastOne (NASDAQ: PODC) is a leading podcast platform that provides creators and advertisers with a full 360-degree solution in sales, marketing, public relations, production and distribution. PodcastOne has over 2.1 billion downloads per year with a community of 250 top podcasters, including Adam Carolla, Kaitlyn Bristowe, Jordan Harbinger, LadyGang, A&E’s Cold Case Files, and Varnamtown. PodcastOne has built a distribution network reaching over 1 billion listeners a month across all channels, including its majority shareholder, LiveOne (NASDAQ: LVO), as well as Spotify, Apple Podcasts, iHeartRadio, Samsung and over 150 shows exclusively available in Tesla vehicles. PodcastOne is also the parent company of LaunchpadOne, an innovative self-serve platform developed to launch, host, distribute and monetize independent user-generated podcasts. For more information, visit www.podcastone.com and follow us on Facebook, Instagram, YouTube and X at @podcastone.
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 and PodcastOne’s ability to consummate any proposed financing, acquisition, merger, distribution or other 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, merger, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; PodcastOne’s ability to continue as a going concern; PodcastOne’s ability to attract, maintain and increase the number of its listeners; PodcastOne 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; PodcastOne 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 PodcastOne, LiveOne and/or LiveOne’s other subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in PodcastOne’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, PodcastOne’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024, filed with the SEC on November 14, 2024, and in PodcastOne’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and PodcastOne disclaims any obligation to update these statements, except as may be required by law. PodcastOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. On December 18, 2023, and ending December 18, 2024, Liviakis Financial Communications, Inc. (LFC) was retained by LiveOne, Inc. in various consulting capacities including strategic management planning, investor relations and other business development responsibilities. LFC was compensated four hundred ninety thousand (490,000) shares of stock for this contract. Officers and employees of LFC will buy or sell shares in LiveOne, Inc. prior, during or after this release. LFC advises LiveOne, Inc. but does not provide investment advice. LFC is not a registered investment advisor or broker-dealer. All material provided regarding LiveOne, Inc. including, but not limited to its history, corporate status, and other developments was prepared using information approved and signed off by LiveOne, Inc. management as approved for public dissemination. Although the information contained herein is believed to be reliable, LFC makes no warranties as to the accuracy of the description of any of the content herein and accepts no liability for how readers may choose to utilize it.
PodcastOne IR Contact:
Chris Donovan
Managing Director
MZ Group – MZ North America
(914) 352-5853
PODC@mzgroup.us
www.mzgroup.us
PodcastOne Press Contact:
(310) 246-4600
Susan@Guttmanpr.com
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