Headquartered in Los Angeles, California, LiveOne, Inc. We're proud of our results and look forward to continuing this momentum," Mr. "Our team has worked tirelessly to improve our offerings and create a better user experience for our subscribers. It's a testament to the quality of content and service we provide to our listeners," said Brad Konkol, Head of Slacker Radio.įurthermore, LiveOne expects to reach 2.75 million paying monthly subscribers by fiscal year 2024.** This expected growth indicates a strong demand for the company's content, podcasting platform, and efforts to enhance the listeners' experience. Since January 1, 2023, paid subscribers have increased by 136,000, a year-over-year increase of 40%, and now exceed 2 million monthly paying members.** "We are thrilled to see such tremendous growth in our paid subscribers in such a short period. "Having a solid balance sheet is crucial to any business, and we believe we are in a strong financial position to support our growth initiatives,” Ellin remarked. LiveOne also reported a current cash position of $10 million, which provides the company with ample resources to support its growth and investment initiatives. We expect the special dividend and trading of PodcastOne to begin in April," said Robert Ellin, CEO and Chairman of LiveOne. We are extending the record date to Apas we continue to work closely with regulators and the exchange to ensure a seamless transaction. “We are excited about the planned spin-out of PodcastOne as it will be the only pure play publicly traded podcast company. LOS ANGELES, CA, Ma(GLOBE NEWSWIRE) - via NewMediaWire - LiveOne (Nasdaq: LVO), an award-winning, creator-first music, entertainment, and technology platform, announced today a business update on the planned PodcastOne spin-out, balance sheet, paid subscriber growth, and share buyback. Record Paid Membership Growth Addin g 136,000 Since January 1, 2023, a 40% Year-Over-Year IncreaseĬurrent Cash Position of $10 Million and $27 Million in Short Term AssetsĬommenced Previously Announced $2 Million Stock BuybackĮxtends Record Date to Apfor its Planned Special Dividend of a Portion of PodcastOne’s Equity
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