LiveOne Surpasses 3.7M Total Members, A 26% YoY Increase
Portfolio Pulse from Benzinga Newsdesk
LiveOne has reported a significant growth in its membership, reaching over 3.7 million members, marking a 26% year-over-year increase. Specifically, Tesla members have surpassed 1.7 million, a 33% increase from the previous year. In March alone, LiveOne added more than 60,000 paid members, with an average revenue per user (ARPU) of over $3.10. The company anticipates its membership growth to exceed 1 million in 2024 and is developing over 55 new B2B partnerships, following a major deal that contributes over $2 million in monthly recurring revenues. Brad Konkol of Slacker Radio highlighted the decade-long partnership with Tesla and the focus on expanding B2B relationships to diversify risk and boost revenue streams.
March 28, 2024 | 1:01 pm
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POSITIVE IMPACT
LiveOne reports a 26% YoY increase in total members, reaching 3.7M, with Tesla members at 1.7M (+33%). Expects membership growth to exceed 1M in 2024 and is expanding B2B partnerships.
The significant growth in membership and the strategic expansion into B2B partnerships indicate a strong revenue and growth trajectory for LiveOne, likely positively impacting its stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Tesla's partnership with LiveOne has been highlighted as a key factor in LiveOne's growth, with Tesla members now over 1.7M, a 33% YoY increase.
Tesla's long-standing partnership with LiveOne and its contribution to the membership growth are positive indicators for both companies, potentially boosting investor confidence and stock performance.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80