LOS ANGELES - LiveOne (NASDAQ: LVO), an entertainment and technology platform known for its music services, has announced a partnership with Seekr to develop the first AI-powered search platform for beats and sounds, targeting creators and artists. The service, which is expected to be available by the end of the year, will leverage Seekr's AI technology and LiveOne's extensive beat and sound collection to facilitate music creation and licensing.
The collaboration with Seekr, which operates on the Intel (NASDAQ:INTC) Developer Cloud, marks a strategic move for LiveOne to enhance its offerings and support for artists.
According to LiveOne CEO Robert Ellin, this partnership will create new opportunities for creators to generate revenue streams through an innovative platform that simplifies the process of aligning and creating music.
Seekr's Founder & CEO, Pat Condo, expressed excitement about the collaboration, emphasizing the potential for their generative AI to empower creators with efficient music solutions. Seekr Technologies is an AI company focused on producing reliable content and is dedicated to building a trustable web environment.
The information provided in this article is based on a press release statement and does not include any speculative content or broader industry impact discussions.
In other recent news, LiveOne Inc. has reported noteworthy developments. The company's fourth-quarter results exceeded expectations with significant growth in both revenue and earnings, attributed to the integration of AI into its operations. Analyst firm Roth/MKM maintained its 'Buy' rating on LiveOne stock, expressing confidence in the company's forward-looking guidance and AI-driven growth strategy.
LiveOne also executed a share repurchase, buying back 4.1 million shares as part of its $10 million share repurchase program. The company's CEO, Robert Ellin, emphasized this move as a demonstration of their commitment to creating value for investors.
Additionally, LiveOne anticipates joining the Russell 2000 Index, a development expected to increase its market visibility and liquidity.
Furthermore, for the first time in a decade, LiveOne increased its membership fees. The modest increase is expected to support the company's growth initiatives and solidify its position as a leader in the audio and entertainment sector. The additional revenue will be utilized to enhance content, technology offerings, and collaborations with celebrity brands.
InvestingPro Insights
As LiveOne (NASDAQ: LVO) embarks on its new partnership with Seekr to innovate in the AI-powered music search space, investors are closely monitoring the company's financial health and market performance. According to InvestingPro data, LiveOne's market capitalization stands at $141 million USD, reflecting the company's size and investor valuation within the industry.
Despite the exciting prospects of the collaboration, LiveOne's financial metrics shed light on challenges the company faces. The P/E ratio, a measure of the company's current share price relative to its per-share earnings, is currently negative at -10.73, with a forward P/E (adjusted for the last twelve months as of Q4 2024) at -11.87. This suggests that investors are anticipating losses, which aligns with one of the InvestingPro Tips indicating that analysts do not expect the company to be profitable this year.
Moreover, the company's revenue growth shows a promising trend, with an 18.9% increase over the last twelve months as of Q4 2024. This growth is crucial for LiveOne as it seeks to expand its market presence and could be a positive signal for potential investors interested in the company's growth trajectory.
However, investors should note that LiveOne does not pay dividends to shareholders, which can be a significant consideration for those seeking regular income from their investments. Additionally, with the company trading at a high EBITDA valuation multiple and the stock price movements being quite volatile, as per the InvestingPro Tips, caution is advised. There are 6 more tips available on InvestingPro that could provide further insights into LiveOne's financial stability and growth prospects.
For those considering an investment in LiveOne, or for current shareholders looking to deepen their understanding of the company's financial outlook, InvestingPro offers a comprehensive analysis. Use coupon code PRONEWS24 to receive up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, and gain access to valuable insights that can inform your investment decisions.
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