LiveOne (Nasdaq: LVO) Signs Strategic B2B Partnership With Fortune 500 Media Conglomerate; Partnership Delivers Minimum $20 Million Revenues for Calendar 2024
15 12월 2023 - 10:45PM
via NewMediaWire –LiveOne (Nasdaq: LVO), an award-winning,
creator-first music, entertainment, and technology platform,
announced today a new significant partnership agreement as well as
updated revenue guidance for its current fiscal year ending March
31, 2024 (“Fiscal 2024”).
Robert Ellin, Chairman and CEO of LiveOne, commented, “We are
excited to have entered into a new partnership with one of the
world’s great media conglomerates, immediately adding a meaningful
amount of monthly recurring revenue to our existing business.
Given our vertically integrated platform, every new partnership has
enormous potential and this latest is another within our eight
targeted B2B verticals.
Mr. Ellin continued, “We are also thrilled to provide updated
revenue guidance for Fiscal 2024 and we are extremely optimistic
about continued strong revenue growth and execution on our business
plan through Fiscal 2025.”
The anticipated financial results discussed in this press
release are based on management's preliminary expectations. During
the course of LiveOne’s quarter-end and fiscal year-end closing
procedures and review process, LiveOne may identify items that
would require it to make adjustments, which may be material, to the
information presented above. As a result, the estimates above
constitute forward-looking information and are subject to risks and
uncertainties, including possible adjustments to preliminary
financial results.
About LiveOne, Inc. Headquartered in Los
Angeles, California, LiveOne, Inc. (Nasdaq: LVO) (the “Company”) 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.
The Company's subsidiaries include Slacker Radio, PodcastOne
(Nasdaq: PODC), PPVOne, Palm Beach Records, 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: the
Company’s reliance on one key customer for a substantial percentage
of its revenue; the Company’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; the Company’s ability to
continue as a going concern; the Company’s ability to attract,
maintain and increase the number of its users and paid members; the
Company identifying, acquiring, securing and developing content;
the Company’s intent to repurchase shares of its and PodscastOne’s
common stock from time to time under its announced stock repurchase
program and the timing, price, and quantity of repurchases, if any,
under the program; the Company’s ability to maintain compliance
with certain debt covenants; the Company successfully implementing
its growth strategy, including relating to its technology platforms
and applications; management’s relationships with industry
stakeholders; the effects of the global Covid-19 pandemic;
uncertain and unfavorable outcomes in legal proceedings; changes in
economic conditions; competition; risks and uncertainties
applicable to the businesses of the Company’s subsidiaries; and
other risks, uncertainties and factors including, but not limited
to, those described in the Company’s Annual Report on Form 10-K for
the fiscal year ended March 31, 2023, filed with the U.S.
Securities and Exchange Commission (the “SEC”) on June 29, 2023,
Quarterly Report on Form 10-Q for the quarter year ended September
30, 2023, filed with the SEC on November 20, 2023, and in the
Company’s other filings and submissions with the SEC. These
forward-looking statements speak only as of the date hereof, and
the Company disclaims any obligation to update these statements,
except as may be required by law. The Company 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: Kirin
Smith PCG Advisory (646) 823-8656 ksmith@pcgadvisory.com
Press Contact: LiveOne press@liveone.com
LiveOne (NASDAQ:LVO)
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부터 4월(4) 2024 으로 5월(5) 2024
LiveOne (NASDAQ:LVO)
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부터 5월(5) 2023 으로 5월(5) 2024