Liveone And Tcl Partner For Distribution Deal
LiveOne's App Preloaded onto TCL's Select Line of Smartphones and Tablet Devices
Millions of TCL Customers Receive Exclusive Access to LiveOne PLUS
LOS ANGELES, Aug. 25, 2022 /PRNewswire/ -- LiveOne (Nasdaq: LVO), an award-winning creator-first, music, entertainment and technology platform, announced today its preloaded platform distribution partnership with TCL, one of the world's best-selling consumer electronics brands and leading technology companies. This distribution partnership includes LiveOne's Android application and membership pre-loaded onto selected TCL smartphones and tablets.
"We are thrilled to be partnering with an innovative tech company like TCL," said Patrick Markel, Senior Director of Business Development and Strategic Partnerships of LiveOne. "Our audio and video content, from music to podcasts, will offer TCL's customers an exclusive end to end entertainment membership out of the box."
"Engaging with partners like LiveOne provides access to platforms that tap into the creator universe while aligning with our mission to inspire, entertain, and provide premium content experiences to all TCL consumers no matter where they may be," said Eric Anderson, Senior Vice President and General Manager of TCL Communications Technologies.
LiveOne continues to expand its B2B partnership program with innovative partners such as Samsung, AoL, Tesla and McDonald's. Most recently, LiveOne's apps and content have been made available in all vehicles featuring ZYNC and Android Automotive, including Ford, GMC, Dodge, Chrysler, Volvo, Polestar, Ford, Lincoln, Chevrolet, Nissan, Volkswagen, Mitsubishi, and others.
"We are excited to partner and add another global business leader to our growing portfolio of amazing partnerships, said Rob Ellin, CEO and Chairman of LiveOne. "This latest partnership with TCL continues our mission of working together with the world's leading brands to expand our distribution universe of amazing content featuring incredibly talented artists in a wide variety of mediums."
With a lineup of award-winning televisions, audio products, mobile devices, and appliances, TCL takes pride in delivering meaningful experiences by combining thoughtful design and the latest technology. As one of the world's largest consumer electronics brands, our extensive manufacturing expertise, a vertically integrated supply chain, and state-of-the-art panel factory helps TCL deliver innovation for all. For additional product information, please visit www.tcl.com for the full portfolio.
Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) (the "Company") is an award-winning, creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. The Company was awarded Best Live Moment by Digiday for its "Social Gloves" PPV Event, and has been a finalist for 8 more awards, including Best Live Event, Best Virtual Event, Best Overall Social Media Excellence, and Best Original Programming from Cynopsis and Digiday. As of June 30, 2022, the Company has accrued a paid and free membership base of over 2.37 million**, streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, over 300 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and created a valuable connection between fans, brands, and bands. The Company's wholly-owned subsidiaries include Slacker Radio, React Presents, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, LiveXLive, PPVOne and PodcastOne, which generates more than 2.48 billion downloads per year and 300+ episodes distributed per week across its stable of top-rated podcasts. LiveOne is available on iOS, Android, Roku, Apple TV, Amazon Fire, and through OTT, STIRR, and XUMO. For more information, visit www.liveone.com and follow us on Facebook, Instagram, TikTok, and Twitter at @liveone.
All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the Company's reliance on one key customer for a substantial percentage of its revenue; the Company's ability to consummate any proposed financing, acquisition, spin-out, distribution or transaction, including the proposed spin-out of PodcastOne or its pay-per-view business, the timing of the closing of such proposed event, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all, or that the closing of any proposed financing, acquisition, spin-out, distribution or transaction will not occur or whether any such event will enhance shareholder value; PodcastOne's ability to list on a national exchange; the Company's ability to continue as a going concern; the Company's ability to attract, maintain and increase the number of its users and paid members; the Company identifying, acquiring, securing and developing content; the Company's intent to repurchase shares of its common stock from time to time under its announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; the Company's ability to maintain compliance with certain financial and other covenants; the Company successfully implementing its growth strategy, including relating to its technology platforms and applications; management's relationships with industry stakeholders; the effects of the global Covid-19 pandemic; uncertain and unfavorable outcomes in legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company's subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 29, 2022, Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2022, filed with the SEC on August 15, 2022, and in the Company's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
** Included in the total number of paid members for the reported periods are certain members which are the subject of a contractual dispute. LiveOne is currently not recognizing revenue related to these members.
Press Contact:
LiveOne
aileen@liveone.com
917.842.9653
LiveOne IR Contact:
IR@liveone.com
310.601.2505
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SOURCE LiveOne, Inc.
