LiveOne Reports 5.8% Revenue Drop Following Tesla Deal Adjustment, Targets B2B Growth
LiveOne has reported Q4 2024 revenue of $29.45 million, marking a 5.8% year-over-year decrease following adjustments to its Tesla Premium Connectivity partnership.
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Key Financial Highlights:
- Total revenue: $29.45 million (down 5.8% YoY)
- Membership services revenue: $14.29 million (down 15.2% YoY)
- Advertising revenue: $12.85 million (up 21.3% YoY)
- Net loss: $5.64 million (increased 150% YoY)
User Statistics:
- Total users: 860,000 (paid and ad-supported)
- Ad-supported users: ~450,000
- Direct-billed Premium subscribers: 78% increase
Tesla Partnership Changes:
- Previous arrangement: $3 per Premium Connectivity subscriber ($9.99 monthly package)
- New terms: Subsidy ended December 2024
- Existing users: Grandfathered payments continue "in perpetuity"
Future Outlook:
- Revised fiscal year guidance: $112-120 million
- Potential price increases planned for next 12 months
- Current Premium pricing: $10.99 monthly
- Plus subscription: $3.33/month with annual commitment
Additional Updates:
- SoundExchange settlement extended to January 2027 ($4.1 million outstanding)
- Stock performance: LVO shares declined 4% to $0.93
- Company pursuing new B2B partnerships
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