Music streaming company LiveOne experienced a 6% revenue decline to $29.4 million in its third fiscal quarter. The drop, attributed to a change in its relationship with Tesla, led to a widening operating loss. Despite this, LiveOne's nine-month revenue increased 8.7% year-over-year. The company now offers discounted packages to Tesla owners, aiming to drive growth and unlock revenue streams.
Music streaming company LiveOne saw its revenue drop 6% to $29.4 million in its fiscal third quarter ended Dec. 31, the company announced Thursday . Revenue in the audio division fell 1% to $27.1 million. The drop led LiveOne’s operating loss to widen to $5.1 million from $800,000 in the prior-year period.
. Now, LiveOne is no longer free to Tesla owners, although the electric vehicle manufacturer will continue to pay grandfathered LiveOne accounts in perpetuity.Now, LiveOne sells discounted packages to Tesla owners. “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 said in a statement in October.
The revised guidance caused LiveOne shares to fall 18.6% to $0.96 on Thursday. That put LiveOne’s share price 55% below its 52-week high of $2.15.
FINANCE MUSIC STREAMING TESLA LIVEONE REVENUE
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla's Profits Plummet Despite High Revenue: Musk's Controversial Bets Raise ConcernsTesla's fourth-quarter profit plunged 71% despite a slight revenue increase, raising questions about the company's future. Regulatory credits and the Cybertruck's performance are key factors in the decline.
Read more »
Tesla's Q4 Earnings Miss Expectations as Automotive Revenue DeclinesTesla reported fourth-quarter earnings and revenue that fell short of analyst estimates, primarily driven by a decline in automotive revenue. The company attributed the weaker performance to reduced average selling prices and implemented discounts to stimulate demand.
Read more »
Tesla Model 3 VS. Hyundai Ioniq 5: The Tesla Supercharger TestThe Hyundai Ioniq 5 is the first non-Tesla EV to get a NACS connector from the factory. Here's how it fares against a Model 3 in a charging test.
Read more »
Elon Musk's Gesture Projected Onto Tesla Factory Alongside 'Heil Tesla'An image of Elon Musk making a controversial salute during a speech was projected onto Tesla's Gigafactory in Berlin. The display featured Musk's gesture alongside the words 'Heil Tesla.' Two left-wing activist groups, Led By Donkeys and Germany's Center for Political Beauty, claimed responsibility for the projection.
Read more »
Microsoft's Cloud and AI Drive Growth, While Gaming Revenue DeclinesMicrosoft reports strong Q2 2025 earnings, fueled by robust growth in cloud and AI businesses. Cloud revenue increased 31% year-over-year, while AI surpassed a $13 billion annual revenue run rate. Gaming revenue dipped 7%, primarily due to a 29% decline in Xbox hardware sales. Microsoft emphasizes its shift towards games and services, with Xbox content and services revenue showing a 2% increase.
Read more »
New York's Legal Weed Business Booms, Generating $161.8 Million in Tax RevenueNew York's legal cannabis industry is experiencing a surge in revenue, generating $161.8 million in tax revenue for the fiscal year ending March 31, a fourfold increase from the previous year. Governor Hochul's budget projects even greater revenue for the coming years, reaching $374 million by 2029. This growth coincides with the industry surpassing $1 billion in sales, prompting celebrations in Albany. The increased tax revenue is attributed to a crackdown on illegal cannabis shops and the expansion of the legal market.
Read more »