LiveOne (LVO) Re-affirms Revenue Guidance of at Least $112M for FY22 - StreetInsider.com

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StreetInsider.com Top Tickers, 4/11/2022
LiveOne (Nasdaq: LVO), a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced today its largest month of paid membership growth as over 52,000 new paid members were added in March 2022. This record monthly membership growth was driven by the expansion into connected vehicles, conversion of free members from live events, merchandise purchases, ticket buyers and general marketing campaigns. As of April 1, 2022, total membership was a record 2.23 million** of which 1.48 million** were paid memberships.
LiveOne also confirms its guidance to achieve record revenue of at least $112 million for FY 2022 ended March 31, 2022, an anticipated increase of approximately 72% as compared to revenue of $65.2 Million in FY 2021.
“With oil prices over $100 a barrel, the world has awakened to how important automated cars have become, and we have seen incredibly strong demand from Tesla and other partners. We expect this strong trend to continue and to deliver another quarter of record new membership adds in the current June quarter,” said Robert Ellin, CEO and Chairman of LiveOne.
Since April 1, 2021, LiveOne has achieved the following:
LiveOne has also experienced growth across its original franchises, livestreams, events, podcast/vodcasts, and digital and social traffic metrics in the quarter ended March 31, 2022 as compared to the quarter ended December 31, 2021, including:
As part of LiveOne’s membership program, LiveOne members will receive exclusive and original content, invitation to artists meet and greets, prizes and points to redeem for concerts, merch discounts, presale ticket offers, PPVs and more through LiveOne’s expanding NFT and GamifyOne platforms.
LiveOne is the first talent-centric platform focused on superfans and building long-term franchises in on-demand audio and video, podcasting, vodcasting, OTT linear channels, pay-per-view, NFTs, and livestreaming. Its unique model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales, licensing, and ticketing.
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