PodcastOne’s Community Reaches 14+ Million Monthly Unique Listeners, 60+ Million IAB Monthly Downloads and Over 300 Sponsors
Over 300 Creators Drive More Than 2.3 Billion Downloads Annually: PodcastOne’s Distribution via PodcastOne, Apple Podcasts, Spotify, Amazon Music, YouTube and More
Over 1,200 Podcasts on LaunchpadOne - An Exclusive Platform for Start-Up Podcasts
Proprietary CMS Platform & Network Provides Unique Data and Insights
LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment and technology platform, announced today that Courtside Group, Inc. (dba PodcastOne) has filed an S-1 with the U.S. Securities and Exchange Commission for its planned spin-out and special dividend to LiveOne’s stockholders of record on January 16, 2023. PodcastOne is expected to record revenues of $25 million for the first 9 months of fiscal 2023 ending December 31, 2022.
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A leading U.S. podcast network with nearly 300 podcasts/vodcasts that has generated more than 2.381 billion downloads to date, PodcastOne has a proven 360-degree advertiser solution for multiplatform integration opportunities and hyper-targeting, that delivers millions of monthly impressions, 14+ million monthly unique listeners, and 60+ million Interactive Advertising Bureau monthly downloads. The platform allows brands to reach their most sought after targeted audiences with content covering all verticals (i.e., sports, entertainment, true-crime, business, society & culture, self-help, etc.).
With over 1,200 available podcasts, PodcastOne’s LaunchpadOne offers creators a free 360-degree podcasting ecosystem - a cutting-edge technology hosting platform, customizable design elements, a podcast player, distribution tools to publish on all major listening apps, including Apple Podcasts, Spotify, Google Podcasts, Overcast and Pocket Casts and others, and a deep network of shows. LaunchpadOne’s robust platform technology, promotion and monetization opportunities will allow podcast creators to leverage unique opportunities from PodcastOne, such as the ability to accumulate new listeners, get discovered, and collaborate with the established podcast network.
PodcastOne’s proprietary internal Content Management System (“CMS”) allows creators and producers to track metrics about shows on an episode-by-episode basis. CMS is the platform where podcast episodes are uploaded, RSS feeds are created and distributed to listening platforms, and the listening data is analyzed and displayed in a dashboard for the creators/producers to see. This fully owned and operated enterprise CMS rivals other paid platforms such as Megaphone (Spotify-owned), Art19 (Amazon-owned) and SimpleCast (SiriusXM/Pandora-owned). The CMS’ day-to-day operation and maintenance is managed by a vendor we contract with and is constantly being updated to be a best-in-class system.
LiveOne remains committed to spinning-out PodcastOne as a separate public company to be listed on a national exchange. In connection with such spin-out, LiveOne has moved the record date to Jan. 16, 2023 for PodcastOne’s special dividend to LiveOne’s stockholders of record. In addition, LiveOne intends to explore spinning-out SlackerOne as a separate public company during its 2024 fiscal year.
The anticipated financial results discussed in this press release are based on management’s preliminary unaudited analysis of financial results for the quarter ending December 31, 2022. As of the date of this press release, LiveOne has not completed its financial statement reporting process for the quarter ending December 31, 2022, and LiveOne’s independent registered accounting firm has not audited the preliminary financial data discussed in this press release. During the course of LiveOne’s quarter- 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 PodcastOne
PodcastOne is a leading advertiser-supported podcast company, offering a 360-degree solution for both content creators and advertisers, including content development, brand integration and distribution. Acquired by LiveOne (NASDAQ: LVO) in 2020, the two entities have subsequently teamed to create a new video podcast (Vodcast) network under the LiveOne umbrella. Amassing more than 2.48 billion downloads per year with 300+ episodes distributed per week across a stable of hundreds of top podcast programs, including influencer talent such as Kaitlyn Bristowe, Steve Austin, Jordan Harbinger, Kail Lowry, Heather Dubrow, The LadyGang, Kevin Connolly, Kevin Dillon, Doug Ellin, Nick Swisher, Michael Irvin, Robert Horry and top-rated true crime shows including Bad Bad Thing, True Crime All the Time Unsolved, This is MONSTERS, Court Junkie, A&E’s Cold Case Files, American Nightmare and more. Its shows are distributed across its own platform as well as LiveOne's owned-and-operated channels on mobile, mobile web, desktop and SmartTVs. PodcastOne is the parent company of LaunchpadOne, an innovative self-serve platform developed to launch, host, distribute and monetize independent user-generated podcasts. PodcastOne is the brainchild of Radio Hall of Famer Norm Pattiz, also the founder of Network Radio-giant Westwood One.
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 was awarded Best Live Moment by Digiday for its “Social Gloves” PPV Event, and has been a finalist for 8 more awards, including Best Live Event, Best Virtual Event, Best Overall Social Media Excellence, and Best Original Programming from Cynopsis and Digiday. As of November 9, 2022, the Company has accrued a paid and free ad-supported membership base of 2.6 million**, streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, over 300 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and created a valuable connection between fans, brands, and bands. The Company's wholly-owned subsidiaries include Slacker Radio, React Presents, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, LiveXLive, PPVOne and PodcastOne, which generates more than 2.48 billion downloads per year and 300+ episodes distributed per week across its stable of top-rated podcasts. LiveOne is available on iOS, Android, Roku, Apple TV, Amazon Fire, and through OTT, STIRR, and XUMO. For more information, visit www.liveone.com and follow us on Facebook, Instagram, TikTok, and Twitter at @liveone.
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, distribution or transaction, including the proposed special dividend and spin-out of PodcastOne or its pay-per-view business, the timing of the consummation of such proposed event, including the risks that a condition to consummation of such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; PodcastOne's ability to list on a national exchange; 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 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 financial and other 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, 2022, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 29, 2022, Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2022, filed with the SEC on November 17, 2022, 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 obligations 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.
** Included in the total number of members for the reported periods are certain members which are the subject of a contractual dispute. LiveOne is currently not recognizing revenue related to these members.
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Contacts
Press Contacts:
LiveOne
press@liveone.com
LiveOne IR Contact:
(310) 601-2505
ir@LiveOne.com
