Audio Division Revenue
LiveOne's Audio division reported $36.6 million in revenue with $1.1 million of adjusted EBITDA.
Cost Reduction and Efficiency
The company reduced its staff from 350 to 95 and decreased costs from $22 million to $6 million, leveraging AI for efficiency improvements.
Expanded B2B Partnerships
LiveOne has expanded its partnership with Amazon from a $16.5 million deal to a $20 million deal, and their Fortune 250 partner increased from $2 million to $26 million annually.
Podcast Business Growth
PodcastOne announced record-breaking quarterly revenues over $15 million and expects $56-60 million in annual revenue with $4.5-6 million of EBITDA.
New Subsidiary and Market Expansion
Launch of LiveOne Africa with a commitment to raise over $20 million, targeting a market expected to surpass the U.S. in size.
Future B2B Opportunities
The company expects to announce additional B2B partnerships and has a pipeline of 72 potential deals.