LiveOne has reported its Q4 2024 financial results following the adjustment of its Tesla Premium Connectivity deal. The audio entertainment company's revenue declined 5.8% year-over-year to $29.45 million.

Key Financial Highlights:

• Membership services revenue decreased 15.2% to $14.29 million
• Advertising revenue increased 21.3% to $12.85 million
• Net loss expanded 150% to $5.64 million
• Total paid and ad-supported users reached 860,000 (450,000 ad-supported)
• Direct-billed Premium subscribers increased 78%

Tesla Deal Impact:

• Tesla stopped $3 per subscriber payments in December 2024
• "Grandfathered" Premium Connectivity users will continue to be subsidized
• LiveOne remains available as a standalone service in Tesla vehicles

Future Outlook:

• Company projects full-year revenue between $112-120 million
• Potential price increases planned for next 12 months
• Current Premium subscription: $10.99/month
• Plus subscription: $3.33/month with annual plan
• New B2B partnerships in development

Additional Updates:

• SoundExchange settlement repayment extended to January 2027
• Outstanding royalties: $4.1 million as of 2024's end
• Stock closed at 93 cents, down 4%

Related Articles

Previous Articles