Get the latest gossip

Tesla to End LiveOne Streaming Subsidies for Customers, Sending LiveOne Stock Down 23%

Tesla will end its LiveOne streaming subsidies for customers. LiveOne's stock was down 23% and the company lowered revenue and EBITDA guidance.

LiveOne lowered revenue and EBITDA guidance after it was announced that the company's streaming platform is losing its preferred status in Tesla vehicles. Music streaming company LiveOne will continue to have a relationship with auto manufacturer Tesla but with less advantageous terms. Combined with LiveOne’s 23.2% drop in share price last week and Monday’s 10.5% decline, the stock has lost 47% in just the last seven trading days.

Get the Android app