– Drumify has produced multiple Grammy Award-winning and multi-platinum records for artists such as Drake, NBA YoungBoy, $UICIDEBOY$, Lecrae, Anuel AA, and many more.
– Marketplace is expected to convert approximately 70% of current producers working with Drumify into LiveOne subscribers, increasing LiveOne ARPU
– Marketplace provides creators with a wide IP catalog and ownership opportunities
– Cyanite AI algorithms adjust search results based on each creator's habitual behaviors and match them with relevant beats and sounds.
Los Angeles, California, April 2, 2024 (Globe Newswire) — via new media wire — Drumify, a subsidiary of LiveOne (NASDAQ: LVO), today announced the launch of its subscription model Drumify 3.0. The subscription model is designed to convert approximately 70% of Drumify's customer base into subscribers, increasing customer lifetime value and overall revenue. By offering a variety of tiered subscriptions, Drumify lowers the barrier to entry into professional music production and provides access to high-quality sounds and tools previously available only to established industry professionals. aims to democratize the
“We have been working around the clock on our subscription platform for over a year to not only compete with Splice, but also educate creators about copyright ownership and building long-term wealth. We're so excited to finally be able to bring it out into the world, and the response so far has been overwhelming,” said Drumify founder Aidan Klottinger.
About Live One Co., Ltd.
LiveOne is headquartered in Los Angeles, California (NASDAQ: LVO) is an award-winning, creator-first music, entertainment and technology platform focused on delivering premium experiences and content to the world through membership and live and virtual events. The company's subsidiaries include Slacker Radio, PodcastOne (NASDAQ: PODC), PPVOne, Gramophone Media, Palm Beach Records, CPS, LiveXLive, DayOne Music Publishing, Drumify, Splitmind. LiveOne is available through OTT applications on iOS, Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV, and STIRR. For more information, please visit: liveone.com and follow us Facebook, Instagram, tick tock, YouTube and on Twitter @liveone. For more investor information, please visit ir.liveone.com.
Forward-looking statements
All statements other than statements of historical fact contained in this press release are “forward-looking statements” and are often, but not always, It may be identified by the use of words such as 'alou'. “likely to result”, “will”, “should”, “estimate”, “plan”, “project”, “anticipate”, “intend”, “expect” ”, “anticipate”, “believe”, “seek”, “continue”, “goal” or the negative thereof, or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. There is a gender. LiveOne's ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, the expected timing of completion of such proposed event (including the risk that conditions to completion of such event will not be satisfied); If the proposed financing, acquisition, spin-out, merger, special dividend, distribution or transaction does not take place, or if such event whether to increase LiveOne's ability to continue as a going concern; LiveOne's ability to attract, retain and increase the number of users and paid members; Identify, acquire, protect, and develop LiveOne Content. LiveOne's intention to repurchase its and/or PodcastOne's common stock from time to time under the stock repurchase program announced by LiveOne, and the timing, price and quantity, if any, of repurchases under the program; LiveOne's ability to maintain compliance with certain debt covenants; LiveOne has successfully executed its growth strategy, including with respect to its technology platform and applications. Relationships between management and industry stakeholders. uncertain and adverse outcomes in legal proceedings; Changes in economic conditions. competition; risks and uncertainties applicable to the operations of LiveOne's subsidiaries; and other risks, uncertainties and factors described in LiveOne's Annual Report on Form 10-K for the fiscal year ended March 31, 2023, filed with the Securities and Exchange Commission (the “SEC”). This includes, but is not limited to, those listed below. Quarterly Report on Form 10-Q for the quarterly year ended December 31, 2023, filed with the SEC on June 29, 2023 and February 13, 2024, and LiveOne's other filings with the SEC. Documents and Submissions. These forward-looking statements speak only as of the date hereof, and LiveOne undertakes no obligation to update them, except as required by law. LiveOne intends that all forward-looking statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
LiveOne IR Contact:
Liviakis Financial Communications Co., Ltd.
(415) 389-4670
john@liviakis.com
press contact:
For LiveOne
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