via NewMediaWire – PodcastOne (NASDAQ: PODC), a leading podcast
platform and a subsidiary of LiveOne (NASDAQ: LVO), which owns ~80%
of the PODC common stock, announced today the highest programmatic
revenue in company history for the second fiscal quarter of its
fiscal year ending March 31, 2024 (“Q2 Fiscal Year 2024”), 121%
growth over the same period last year. Q2 Fiscal Year 2024
programmatic revenue also grew compared to the previous quarter,
which had ranked as the company’s previous highest quarterly
benchmark. As touted by MediaRadar, programmatic advertising is an
emerging trend in podcast monetization. PodcastOne’s growth
percentages put the company well in front of this soon-to-be
industry-wide revenue trend.
Leveraging Adswizz’s ad serving technology, the industry wide
shift and growth in programmatic advertising and PodcastOne’s
expansive, premium inventory of highly sought after hosted
podcasts, such as The Fighter & The Kid, The Adam Carolla
Podcast, Cold Case Files, Coffee Convos and Off The Vine with
Kaitlyn Bristowe, PodcastOne was able to deliver over 229 Million
programmatic impressions for Q2 Fiscal Year 2024 an increase in
impressions of 79% from the same period last year. PodcastOne is
also celebrating its highest average programmatic CPM in Q2 Fiscal
Year 2024, marking a 24% growth from the same period last year.
PodcastOne’s fiscal year concludes March 31, 2024.
"The growth of programmatic advertising across the audio
industry represents the maturation of podcasting as both a cultural
medium and an advertising strategy. Like display, video, or CTV, it
has proven to be an efficient, effective, and scalable strategy
trusted by listeners and advertisers alike. As a network that’s
leveraged programmatic for more than four years, our growth and
momentum is credited to the appeal of our programming, the
successful relationships with our programmatic partners, and the
collaboration across the industry to educate and evolve
programmatic audio," said Ellie Andrews, Director of Digital
Operations for PodcastOne.
“In 2024 the podcast industry is poised to have over half a
billion listeners with almost 50% of Americans admitting that they
listen to podcasts. Time and time again it has been proven that
advertisers can most effectively with cost efficiency reach
consumers through our medium of podcasting. Our growth and forward
momentum is credited to the strength and appeal of our programming
with consumers and our sales team’s ability to capitalize on long
standing relationships, creating new avenues of success for brands
and our hosts,” said Kit Gray, President and Co-Founder of
PodcastOne.
PodcastOne’s full roster of top ranked podcasts includes
programming across top genres such as news, comedy, true crime and
society and culture, including shows such as Bad Bad Thing, True
Crime All The Time Unsolved, The Prosecutors, Court Junkie, Cold
Case Files, The Jordan Harbinger Show, Baby Mamas No Drama,
LadyGang, and The Schaub Show. PodcastOne shows are available
through PodcastOne, Apple Podcasts, Spotify, iHeart, Amazon and
wherever podcasts are heard.
About PodcastOnePodcastOne (Nasdaq: PODC) is a Los
Angeles based podcast network founded in 2012 by Kit Gray and Norm
Pattiz providing creators and advertisers with a full 360-degree
solution in sales, marketing, public relations, production, and
distribution delivering over 2.1 billion downloads per year with a
community of 250 of the top podcasters, including Adam Carolla,
Kaitlyn Bristowe, Jordan Harbinger, LadyGang, and A&E's Cold
Case Files. PodcastOne has built a distribution network reaching
over 1 billion listeners a month across all of its own properties,
LiveOne (Nasdaq: LVO), 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 PodcastOne.com and follow us on Facebook,
Instagram, YouTube and Twitter at @podcastone.
About LiveOne, Inc.Headquartered in Los Angeles, CA,
LiveOne (Nasdaq: LVO) 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 wholly-owned subsidiaries
include Slacker Radio, PodcastOne (Nasdaq: PODC), PPVOne,
Gramophone Media, Palm Beach Records, CPS, LiveXLive, 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.
Forward-Looking StatementsAll 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 one key customer for a substantial percentage of its
revenue; LiveOne’s and PodcastOne’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; 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 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; PodcastOne’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; 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 PodcastOne’s
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, 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 ended September
30, 2023, filed with the SEC on November 20, 2023, 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.
Press Contacts:
For PodcastOne310.246.4600Susan@Guttmanpr.com
PodcastOne (NASDAQ:PODC)
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