LiveOne Increases Guidance for Its Audio Division’s Positive Adjusted EBITDA* to $17.5 – $19 Million for Fiscal Year 2023

LiveOne, an award-winning, creator-first, music, entertainment and technology platform, announced today that it has broken its multiple membership records as total free and paid members grew to 2.7 million with over 1.9 million paid members. LiveOne achieved record member growth in the last 12 months to over 532,000 new members – 40% increase. In addition, Q3 in fiscal 2023, saw over 8% growth with 160,000 paid new members. The last nine months had a 28% membership growth of 414,000.

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LiveOne’s CEO and Chairman, Robert Ellin, commented, “We are seeing steady membership growth and we have achieved the largest increase in free and paid membership since inception of the company. We are focusing all resources on hiring a B2B executive team to expand bluechip partnerships and distributions across multiple verticals, including mobile, automotive, fitness, real estate and more.”

LiveOne is increasing guidance for its Audio Division to $17.5 million – $19 million in positive Adjusted EBITDA* without corporate overhead expense allocation for its fiscal year ending March 31, 2023. LiveOne’s current cash balance is $8.6 million and short term assets are $25 million. In addition, LiveOne plans to IPO Slacker Radio as a separate public company during its 2024 fiscal year.

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