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LiveOne Reports $23.5MM In Q3 Income, Expands Stock Buyback

LiveOne fiscal 2023 Photo Credit: LiveOne

In late October, LiveOne (NASDAQ: LVO) execs indicated that their company would post record revenue and membership growth for Q3 2022. Now, the Los Angeles-headquartered business has officially unveiled the financials, including all-time-high quarterly revenue of about $23.53 million.

LiveOne, which was ordered to pay $9.8 million to SoundExchange about three weeks back, just recently detailed its Q3 2022 showing (covering the second quarter of its 2023 fiscal year). According to the company’s performance breakdown for the three months ending on September 30th, revenue improved by 7.33 percent year over year to crack the aforementioned $23.53 million.

Meanwhile, amid an across-the-board effort to cut spending, expenses attributable to cost of sales, marketing, product development, and general and administrative categories alike dipped from Q3 2021 and totaled $24.52 million, the document shows. Moreover, LiveOne relayed that its net loss for the third quarter had finished at $3.41 million, about 78 percent less than the net loss reported for the same period in 2021.

(For the six months ending on September 30th, LiveOne identified a net loss of about $2.06 million, or roughly 91 percent less than the corresponding figure for 2021.)

By unit, LiveOne pinpointed $2.43 million in net income for the audio division (including Slacker and PodcastOne) during Q3 2022, up from a $996,000 net loss in Q3 2021, besides adjusted EBITDA of $6.53 million. But further net losses in “other” and corporate, though far smaller than in 2021’s third quarter, nevertheless contributed to the previously noted net loss of $3.41 million.

On the usership side, LiveOne – which has long touted its “nine-year exclusive partnership with Tesla” – communicated that paid members had totaled 1.8 million as of Wednesday, November 9th, for a net increase of 209,000 from June 30th. Additionally, LiveOne stated that it had 800,000 ad-supported users as of the same date, for 2.6 million total users.

Next, higher-ups reiterated that LiveOne had “strategically opted to delay any new live tentpole or pay-per-view events until its fiscal year ending” on March 31st, 2024, instead utilizing “its capital and resources to strengthen its balance sheet, buyback stock and focus on the growth of its profitable businesses.”

Looking forward to 2023, company officials doubled down on plans to file an S-1 to spin off PodcastOne by Thursday, December 15th; the podcast offering is said to have boasted a “U.S. unique monthly audience” that “surpassed 6.7 million in September 2022.”

Plus, CEO Rob Ellin during his business’s earnings call predicted that LiveOne could attract 10 million subscribers and achieve $1 billion in revenue as well as EBITDA of $150 million “within a five-year period.”

Lastly, LiveOne also took the opportunity to announce that its board had expanded an existing stock-buyback program by allocating another $2 million to repurchase common shares before a December 31st, 2023 expiration date. LiveOne stock’s value increased by 4.1 percent during today’s trading hours to finish at 76 cents per share.


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RIAA Flags ‘Artificial Intelligence’ Music Mixer As Emerging Copyright Threat

The RIAA has submitted its most recent overview of notorious markets to the U.S. Trade Representative. As usual, the music industry group lists various torrent sites, cyberlockers and stream-ripping services as familiar suspects. In addition, several ‘AI-based’ music mixers and extractors are added as an emerging threat. TorrentFreak reports: “There are online services that, purportedly using artificial intelligence (AI), extract, or rather, copy, the vocals, instrumentals, or some portion of the instrumentals from a sound recording, and/or generate, master or remix a recording to be very similar to or almost as good as reference tracks by selected, well known sound recording artists,” RIAA writes.

Songmastr is one of the platforms that’s mentioned. The service promises to “master” any song based on the style of well-known music artists such as Beyonce, Taylor Swift, Coltrane, Bob Dylan, James Brown and many others. The site’s underlying technology is powered by the open-source Matchering 2.0 code, which is freely available on GitHub. And indeed, its purported AI capabilities are prominently in the site’s tagline. “This service uses artificial intelligence and is based on the open source library Matchering. The algorithm masters your track with the same RMS, FR, peak amplitude and stereo width as the reference song you choose,” Songmastr explains.

Where Artificial Intelligence comes into play isn’t quite clear to us. The same can be said for the Acapella-Extractor and Remove-Vocals websites, which the RIAA lists in the same category. The names of these services are pretty much self-explanatory; they can separate the vocals from the rest of a track. The RIAA logically doesn’t want third parties to strip music or vocals from copyrighted tracks, particularly when these derivative works are further shared with others. While Songmastr’s service is a bit more advanced, the RIAA sees it as clearly infringing. After all, the original copyrighted tracks are used by the site to create derivative works, without the necessary permission. […] The RIAA is clearly worried about these services. Interestingly, however, the operator of Songmastr and Acapella-Extractor informs us that the music group hasn’t reached out with any complaints. But perhaps they’re still in the pipeline. The RIAA also lists various torrent sites, download sites, streamrippers, and bulletproof ISPs in its overview, all of which can be found in the full report (PDF) or listed at the bottom of TorrentFreak’s article.


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How much more can the streaming music business grow? Not much, it turns out – National

Back in September at a music conference in Singapore, Sir Lucian Grainge, the CEO of Universal Music Group, stated that 100,000 new songs were being uploaded to streaming music platforms every day. That figure was confirmed at the same conference by Steve Cooper, the departing CEO of Warner Music Group.

The audience was shocked. Numbers like 25,000 or even 60,000 have been tossed around. But 100,000?

To be fair, neither man was talking about 100,000 unique and different songs. This number includes all the remixes, edits, alternate versions, live performances, special mixes (Dolby ATMOS/high-res/Spatial Audio, etc.), and the odd duplicate. But it’s still a lot. Apple Music, Amazon Prime Music, and YouTube Music all say they have at least 100 million tracks available. Spotify could be at that level, too, but the most recent official number I’ve seen for their library is 82 million.

To put that into perspective, even the biggest record store back in the olden days (i.e. pre-Internet) stocked 100,000 titles at most. If we assume that each album has an average of 12 tracks, that’s a mere 1.2 million songs.

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We’ve long passed the point of Too Much Music. Our choices are endless, practically infinite. And this isn’t a good thing. Let me count the ways.

Let’s look at it from the perspective of the artist. Making your songs available for worldwide distribution has never been easier. But when you upload a track, it has to fight for attention with the other 99,999 tracks that were uploaded that day, not to mention the other 100 million already sitting in the library. Your brand new unknown track has to compete with practically every other song written in history.

Read more:

The live music industry is in big trouble. Here’s why

No wonder it’s estimated that around 20 per cent of the songs in Spotify’s library haven’t been streamed even once. If we accept Spotify’s estimate of 82 million songs in its library, that means there are 16,400,000 tracks that remain unheard of by anyone, ever.

We’re starting to hear about fan fatigue, too. This once-wonderous all-you-can-eat buffet is beginning to make people queasy. All this choice has people flicking through song after song after song, looking for something perfect for the moment. This has become a grind as music is being used as a tool for our day-to-day activities rather than something that we can sink into and experience. We’re not listening; we’re merely soundtracking.

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So much choice has led to confusion. Sure, this song is good, but there’s gotta be something even better out there. What’s everyone else listening to? What am I missing? I’m falling behind! Some even throw up their hands in despair: “I DON’T EVEN KNOW WHAT I LIKE ANYMORE!”

For many, selecting something to listen to has become an interminable chore. Discovering new music has paradoxically become more difficult.

Our attention spans have shrunk. If we don’t like something immediately — usually within five to 10 seconds — we hit the skip button. The algorithms then remove that song from what it recommends to us and we never have the opportunity to learn to like something that requires repeated listening.

New music is increasingly dismissed, especially something different or experimental that has the potential to be groundbreaking and/or transformative if just given the time. The more choice we have, the more disposable songs become.

Find a song. Make a judgment after 10-15 seconds. Skip. Next song. Skip. Repeat over and over and over again.

What’s the solution? Some people are weaning themselves from constant streaming, opting instead to stick with a smaller, manageable selection of playlists that they’ve created themselves. Others have returned to physical media like CDs, vinyl, and even cassettes. An actual physical object that contains music invites far more investigation, which can lead to greater engagement.

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Some of those folks have cancelled their streaming music accounts, concerned about how little they hear artists are making from streaming. Others are even discovering the pleasures of old-fashioned radio where they don’t have to worry about choice.

Read more:

Music generated by artificial intelligence is coming to the radio sooner than you think

Meanwhile, the streamers have problems of their own. Ingesting thousands and thousands of new songs every day requires server space. Servers cost money. It takes electricity to run those servers. More customers mean more bandwidth is required to distribute all these digital files. That costs money and consumes energy.

It’s to the point where digital music is less environmentally friendly than selling music on pieces of plastic. Add in the economics of the streamers’ business models — all their costs rise in lockstep with revenues — and you have a bunch of platforms that are very concerned for their financial futures.

While record labels, especially the majors, are making billions from streaming, a figure that’s growing every quarter, they’re concerned that the market share for new music is shrinking as people opt to listen to more and more familiar music from years gone by. The gold rush that is “catalogue music” (material more than two years old) comes at the expense of new songs, which are supposed to be the catalogue music of the future.

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Something has to change. The tsunami of new music is unsustainable in so many ways. Do streamers cap the number of songs they ingest? Do they restrict the size of their accessible libraries to their customers? Do they cull the songs that aren’t getting any attention from their libraries? Will we see streamers start to discourage musicians from uploading music by limiting royalties for songs that stream more than, say, a thousand times?

Think about Mickey Mouse in The Sorcerer’s Apprentice. If someone doesn’t do something, we risk drowning in music that we will never hear.


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Spotify grapples with artist backlash over COVID-19 misinformation on platform





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LiveOne Reports $23.5MM In Q3 Income, Expands Stock Buyback

LiveOne fiscal 2023 Photo Credit: LiveOne

In late October, LiveOne (NASDAQ: LVO) execs indicated that their company would post record revenue and membership growth for Q3 2022. Now, the Los Angeles-headquartered business has officially unveiled the financials, including all-time-high quarterly revenue of about $23.53 million.

LiveOne, which was ordered to pay $9.8 million to SoundExchange about three weeks back, just recently detailed its Q3 2022 showing (covering the second quarter of its 2023 fiscal year). According to the company’s performance breakdown for the three months ending on September 30th, revenue improved by 7.33 percent year over year to crack the aforementioned $23.53 million.

Meanwhile, amid an across-the-board effort to cut spending, expenses attributable to cost of sales, marketing, product development, and general and administrative categories alike dipped from Q3 2021 and totaled $24.52 million, the document shows. Moreover, LiveOne relayed that its net loss for the third quarter had finished at $3.41 million, about 78 percent less than the net loss reported for the same period in 2021.

(For the six months ending on September 30th, LiveOne identified a net loss of about $2.06 million, or roughly 91 percent less than the corresponding figure for 2021.)

By unit, LiveOne pinpointed $2.43 million in net income for the audio division (including Slacker and PodcastOne) during Q3 2022, up from a $996,000 net loss in Q3 2021, besides adjusted EBITDA of $6.53 million. But further net losses in “other” and corporate, though far smaller than in 2021’s third quarter, nevertheless contributed to the previously noted net loss of $3.41 million.

On the usership side, LiveOne – which has long touted its “nine-year exclusive partnership with Tesla” – communicated that paid members had totaled 1.8 million as of Wednesday, November 9th, for a net increase of 209,000 from June 30th. Additionally, LiveOne stated that it had 800,000 ad-supported users as of the same date, for 2.6 million total users.

Next, higher-ups reiterated that LiveOne had “strategically opted to delay any new live tentpole or pay-per-view events until its fiscal year ending” on March 31st, 2024, instead utilizing “its capital and resources to strengthen its balance sheet, buyback stock and focus on the growth of its profitable businesses.”

Looking forward to 2023, company officials doubled down on plans to file an S-1 to spin off PodcastOne by Thursday, December 15th; the podcast offering is said to have boasted a “U.S. unique monthly audience” that “surpassed 6.7 million in September 2022.”

Plus, CEO Rob Ellin during his business’s earnings call predicted that LiveOne could attract 10 million subscribers and achieve $1 billion in revenue as well as EBITDA of $150 million “within a five-year period.”

Lastly, LiveOne also took the opportunity to announce that its board had expanded an existing stock-buyback program by allocating another $2 million to repurchase common shares before a December 31st, 2023 expiration date. LiveOne stock’s value increased by 4.1 percent during today’s trading hours to finish at 76 cents per share.


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SESAC Celebrates Songwriters and Publishers at 2022 Nashville Music Awards – Music Industry Today

SESAC Celebrates Songwriters and Publishers at 2022 Nashville Music Awards – Music Industry Today – EIN Presswire

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RIAA Flags ‘Artificial Intelligence’ Music Mixer As Emerging Copyright Threat

The RIAA has submitted its most recent overview of notorious markets to the U.S. Trade Representative. As usual, the music industry group lists various torrent sites, cyberlockers and stream-ripping services as familiar suspects. In addition, several ‘AI-based’ music mixers and extractors are added as an emerging threat. TorrentFreak reports: “There are online services that, purportedly using artificial intelligence (AI), extract, or rather, copy, the vocals, instrumentals, or some portion of the instrumentals from a sound recording, and/or generate, master or remix a recording to be very similar to or almost as good as reference tracks by selected, well known sound recording artists,” RIAA writes.

Songmastr is one of the platforms that’s mentioned. The service promises to “master” any song based on the style of well-known music artists such as Beyonce, Taylor Swift, Coltrane, Bob Dylan, James Brown and many others. The site’s underlying technology is powered by the open-source Matchering 2.0 code, which is freely available on GitHub. And indeed, its purported AI capabilities are prominently in the site’s tagline. “This service uses artificial intelligence and is based on the open source library Matchering. The algorithm masters your track with the same RMS, FR, peak amplitude and stereo width as the reference song you choose,” Songmastr explains.

Where Artificial Intelligence comes into play isn’t quite clear to us. The same can be said for the Acapella-Extractor and Remove-Vocals websites, which the RIAA lists in the same category. The names of these services are pretty much self-explanatory; they can separate the vocals from the rest of a track. The RIAA logically doesn’t want third parties to strip music or vocals from copyrighted tracks, particularly when these derivative works are further shared with others. While Songmastr’s service is a bit more advanced, the RIAA sees it as clearly infringing. After all, the original copyrighted tracks are used by the site to create derivative works, without the necessary permission. […] The RIAA is clearly worried about these services. Interestingly, however, the operator of Songmastr and Acapella-Extractor informs us that the music group hasn’t reached out with any complaints. But perhaps they’re still in the pipeline. The RIAA also lists various torrent sites, download sites, streamrippers, and bulletproof ISPs in its overview, all of which can be found in the full report (PDF) or listed at the bottom of TorrentFreak’s article.


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Open call for 2023 Creative Lab Hawai‘i music immersive program applications : Maui Now

Image courtesy of Creative Lab Hawai‘i website.

Creative Lab Hawai‘i, founded by the Hawaiʻi State Department of Business, Economic Development, and Tourism’s Creative Industries Division to accelerate new business and monetize opportunities for Hawaiʻi’s creative entrepreneurs is accepting applications for the 2023 Creative Lab Hawai‘i Music Immersive program.

CLMHI focuses on Hawai‘i singer songwriters looking to advance opportunities in licensing their works for global media and entertainment content. Applications will be accepted from Nov. 15 through Dec.15, 2022. 

Submissions for the weeklong intensive and follow on mentoring are reviewed by a panel of industry leaders, managed by the non-profit Hawai‘i Songwriters Festival under the direction of Charles Brotman. CLHMI selected fellows are mentored by top music supervisors, music placement companies, entertainment industry leaders and music producers to collaborate on compositions for licensing of their works for specific TV, film, advertising, promotion, and new media projects.

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Under the direction of GRAMMY and Nā Hōkū Hanohano Award recipient Charles M. Brotman, CLHMI will provide songwriters with the opportunity to co-write and produce for specific TV, advertising, and/or media projects each day of the immersive while working alongside world-class music supervisors, producers, songwriters, and executives.

Up to 12 applicants will be selected to participate in the 2023 CLHMI program, based on an evaluation process by a panel of industry experts. “We are looking for a diverse group of serious songwriters who can hold their own during intensive co-writing sessions and who will truly understand the benefit of the unparalleled level of industry access and mentoring,” said Charles Brotman.

“Hawaiʻi’s performers, songwriters and producers are gaining new tools to navigate the world of licensing a global media product. The CLHMI program is just another venue to support the tremendous talent we have in Hawaiʻi as well as fostering opportunities for our entrepreneurs that will further fuel Hawaiʻi’s creative economy,” said DBEDT Director Mike McCartney.

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CLHMI builds a bridge for local musicians to build business relationships, partner with composers and songwriters and work with industry insiders to leverage their talent for licensing and royalties from original works placed in television series, feature films, videogames, and new media.

“The Creative Lab Hawaiʻi experience provides creatives with the skills required to understand the value of licensing, publishing and intellectual property protection,” explains Georja Skinner, chief officer Creative Industries Division and founder of the CLH Program. “By cultivating industry know how to compose and license original songs for the global film, TV, streaming or advertising, participants are able to expand revenue channels for their talents.”

To receive an application packet, please contact Charles M. Brotman at [email protected]  All materials must be submitted in PDF format and applications are due no later than Dec. 15, 2022.


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