LiveOne Q4 Revenue Drops 6% Following Tesla Deal Adjustment, Sets Sights on B2B Growth
LiveOne reported a 5.8% year-over-year revenue decline to $29.45 million in Q4 2024, following changes to its Tesla Premium Connectivity partnership. The company's membership services dropped 15.2% to $14.29 million, while advertising revenue increased 21.3% to $12.85 million.
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Key Financial Highlights:
- Total users: 860,000 (450,000 ad-supported)
- Net loss increased 150% YoY to $5.64 million
- Direct-billed Premium subscribers up 78%
- Revised full-year guidance: $112-120 million
The Tesla Deal Changes:
- Previous arrangement: $3 per Premium Connectivity subscriber ($9.99/month package)
- New structure: Subsidy ended December 2024
- Existing users remain "grandfathered" indefinitely
- LiveOne now available as standalone service in Tesla vehicles
Future Outlook:
- Company exploring potential price increases
- Developing new B2B partnerships
- SoundExchange settlement repayment extended to January 2027
- CEO Robert Ellin views Tesla relationship as "multibillion-dollar opportunity"
Stock Performance: LVO shares declined 4% to $0.93 following the earnings announcement.
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