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LiveOne Revenue Drops in Q3, Full-Year Guidance Lowered
LiveOne's Q3 earnings report shows that revenue dropped and full-year guidance was lowered. It ended the quarter with 800,000 Tesla "subscribers."
The drop led LiveOne’s operating loss to rise to $5.1 million from $800,000 in the prior-year period. LiveOne, which has both a Slacker-branded music streaming service and numerous business-to-business relationships, ended the quarter with 800,000 Tesla “subscribers” — 475,000 of which are ad-supported. “The conversion opportunity has enormous upside by offering Tesla owners an opportunity to upgrade and have access on all devices at discounted priority pricing,” LiveOne CEO Robert Ellin said in a statement in October.
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