Core Viewpoint - PodcastOne has launched a new podcast network dedicated to cryptocurrency, blockchain, and Web3 innovation to meet the growing demand for crypto-related content [1][3]. Company Overview - PodcastOne is a leading podcast platform with over 3.9 billion total downloads and a community of 200 top podcasters [3]. - The company has a distribution network that reaches over 1 billion monthly impressions across various channels, including YouTube, Spotify, Apple Podcasts, and iHeartRadio [3]. New Network Features - The new crypto-focused network will feature a curated slate of original shows hosted by prominent industry voices [2]. - PodcastOne plans to explore podcast tokenization and pursue strategic alignments and acquisitions within the crypto podcast space [2][5]. Market Demand - Kit Gray, President and Co-Founder of PodcastOne, highlighted a significant shift in listener interest towards crypto content, indicating that launching a dedicated network is a response to this trend [3].

PodcastOne Overview - PodcastOne is a leading podcast platform with over 3.9 billion downloads[1] - PodcastOne is the only publicly-traded pure-play podcast company in the U.S[10] - PodcastOne has 196 exclusive podcasts, 350+ episodes per week, 16.2 million monthly downloads and 5.2 million monthly unique listeners[12] Financial Performance and Growth - PodcastOne's FY 2025 revenue is expected to increase at least 17% to at least a record $51.0 million[40] - PodcastOne is targeting $100 million in revenues in 2-4 years[12, 13] - PodcastOne's revenue for the first 9 months of FY 2025 was $38.0 million[9] Market Position and Strategy - The total U.S podcast market ad revenue in 2024 is over $2 billion, climbing to ~$2.6 billion by 2026[18] - PodcastOne aims to be the go-to platform for content creators to grow audiences and expand reach[24] - PodcastOne is focused on opportunistic M&A to incorporate smaller networks and technology into its infrastructure[12, 24] Revenue Streams - PodcastOne has diversified revenue opportunities beyond direct advertising, including paywalls, live events, social campaigns, and owned IP[12, 39] - PodcastOne has two shows sold for TV adaptation[12, 33] - 31% of weekly podcast listeners use YouTube to listen & view, followed by Spotify (27%) and Apple Podcasts (15%)[37]

Core Insights - PodcastOne reported strong operating results for Q4 Fiscal 2025, achieving record revenue of $52.1 million for the fiscal year, a 20% increase in Q4 revenue compared to Q4 Fiscal 2024 [8][5] - The company raised its revenue guidance for Fiscal 2026 to a range of $55-60 million, anticipating record Adjusted EBITDA of $3.0-5.0 million [6][8] - PodcastOne's strategic initiatives include expanding its podcast network and enhancing monetization channels, which contributed to its growth and industry ranking [3][4] Financial Performance - Q4 Fiscal 2025 revenue reached $14.1 million, up from $11.7 million in Q4 Fiscal 2024, marking a 20% quarter-over-quarter increase [8][5] - The company reported an operating loss of $1.542 million for Q4 Fiscal 2025, compared to a loss of $1.178 million in Q4 Fiscal 2024 [5][8] - Adjusted EBITDA for Q4 Fiscal 2025 was $0.888 million, a significant increase from $0.258 million in Q4 Fiscal 2024 [5][8] Strategic Initiatives - PodcastOne is focusing on expanding its programming, as evidenced by the launch of new shows and partnerships, including the KILLR Network expansion [4][5] - The company is leveraging its infrastructure to support innovative podcast tours and festivals, enhancing audience engagement and monetization opportunities [5][4] - PodcastOne's partnership with Amazon's ART19 achieved 105 million impressions, showcasing its growing reach and influence in the podcasting space [8][6] Market Position - PodcastOne has maintained its position as a top 10 podcast network, currently ranked 9 in Podtrac's Top 10 Publishers for six consecutive months [8][6] - The company has added 24 new podcasts to its network, bringing the total to over 200, which reflects its commitment to content diversification and audience growth [8][6] - PodcastOne's community includes notable podcasters, enhancing its brand recognition and market presence [10][8]

Core Insights - LiveOne reported record revenue and adjusted EBITDA for fiscal 2025, surpassing guidance significantly, indicating strong operational performance and effective cost-reduction initiatives [1][2]. Financial Performance - Fiscal 2025 consolidated revenue reached $114.4 million, exceeding guidance by $2.4 million [1]. - Adjusted EBITDA for fiscal 2025 was $18.2 million, beating guidance by over 51% or $6.2 million [1]. - Q4 Fiscal 2025 revenue was $19.3 million, down from $30.9 million in Q4 Fiscal 2024, primarily due to reduced Slacker radio revenues [4]. - The operating loss for Q4 Fiscal 2025 was $8.2 million, compared to a loss of $1.2 million in Q4 Fiscal 2024 [4]. - Q4 Fiscal 2025 adjusted EBITDA was $1.6 million, down from $2.8 million in Q4 Fiscal 2024 [5]. Operational Highlights - The Audio Division, which includes Slacker Radio and PodcastOne, contributed an adjusted EBITDA of $4.1 million in Q4 Fiscal 2025, driven by improved contribution margins and reduced operating expenses [5]. - The company implemented cost-reduction initiatives that improved profitability and strengthened market position [2]. Future Outlook - LiveOne plans to host a conference call and webcast on June 26, 2025, to discuss earnings and current B2B partnerships, including with Tesla [1][8].

Financial Performance & Guidance - LiveOne reported Q3 FY2025 consolidated revenue of $29.4 million and adjusted EBITDA of $1.5 million[14] - Full Year FY2024 consolidated revenue was $118.4 million and adjusted EBITDA was $11.0 million[14] - Full FY2025 guidance projects consolidated revenue between $112 million and $120 million, with adjusted EBITDA between $6 million and $10 million[14] - The Audio Division (Slacker and PodcastOne) reported FY2024 revenue of $109.3 million and adjusted EBITDA of $20.6 million[14] - Audio Division's FY2025 revenue guidance is $106 million to $115 million, with adjusted EBITDA between $12 million and $20 million[14] PodcastOne (PODC) Highlights - PodcastOne reported Q3 FY2025 revenue of $12.7 million and adjusted EBITDA of -$670K[33] - Full Year FY2024 revenue for PodcastOne was $43.3 million and adjusted EBITDA was $663K[33] - LiveOne owns approximately 72% of PodcastOne's common stock[33] User & Content Metrics - LiveOne's Slacker Radio has over 50 million tracks in its music catalog and over 400,000 hours of podcast episodes[30] - Slacker Radio has over 100 million app downloads[30] - PodcastOne produces over 350 episodes weekly, resulting in over 600 million annual downloads[32] - PodcastOne has over 5.2 million monthly unique listeners[32] Market Opportunity - The global video streaming market is expected to reach $252 billion by 2029[21] - The live streaming pay-per-view market is expected to reach $2.3 billion by 2027, with a CAGR of 15% from 2020 to 2027[21] - The global licensed merchandise market is expected to reach $500 billion by 2030[21]

Core Insights - PodcastOne has expanded its programming slate by adding new and acquired podcasts, including "Love Murder," "The Broadside," and "Intrusive Thoughts" by Adam Rippon, along with new shows like "Yestergays" and "A Lot of You Have Been Asking" [1][2][3] Company Overview - PodcastOne is ranked as the 9th largest podcast network in the US by Podtrac, with over 4 billion total downloads and a community of 200 top podcasters [2][9] - The company has a distribution network that reaches over 1 billion monthly impressions across various platforms, including YouTube, Spotify, and Apple Podcasts [10] New Podcast Details - "Yestergays" hosted by Justin Sylvester and Blakely Thornton revisits significant pop culture moments, offering a humorous take on historical events [3][4] - "Love Murder" focuses on stories of love and relationships that have turned deadly, hosted by Jessie Pray and Andie Cassette [4] - "Intrusive Thoughts" by Adam Rippon provides a comedic and unfiltered look into his mind, appealing to a broad audience [5] - "A Lot of You Have Been Asking…" hosted by Hayden Cohen combines comedy with pop culture and social media insights, featuring interviews and humorous commentary [6] - "The Broadside," in collaboration with WUNC, explores important stories from the American South, covering news, arts, and culture [7] Strategic Partnerships - PodcastOne has formed an alignment with WUNC for exclusive sales and distribution rights for "The Broadside," enhancing its true crime offerings with "Love Murder" and complementing its comedy and pop culture podcasts with the new additions [2][3]

Core Insights - Amazon's Upfronts pitch highlighted the success of the Kelce brothers' podcast "New Heights," showcasing the growing importance of podcasts in the media landscape [1][2] - Live sports content remains a key focus for advertisers, with significant presentations from major networks during Upfronts, despite economic uncertainties [3] - The shift towards social media and video formats has led to increased investment in podcasts, with influencers and athletes securing lucrative deals [4][5] Group 1 - Amazon's Prime holds media rights for NFL's Thursday Night Football, but the Kelce brothers were featured due to their podcast's success [2] - Live sports are a major draw for advertisers, with networks like Fox, NBCUniversal, Disney, and Warner Bros. Discovery emphasizing sports content during Upfronts [3] - The rise of podcasts as a valuable media format is driven by consumer preferences for social media and streaming platforms, leading to increased advertising spending in this area [5] Group 2 - The quality of podcast video production has improved, attracting more attention from advertisers and content creators [4] - Netflix's co-CEO indicated that the lines between podcasts and talk shows are blurring, suggesting potential future integration of podcasts into their platform [6]

PodcastOne's full roster of top ranked podcasts includes programming across top genres such as news, comedy, true crime, sports and society and culture and includes shows such as The Jordan Harbinger Show, Karma and Chaos, The Adam Carolla Show, Stassi, Off The Vine with Kaitlyn Bristowe, LadyGang, Gals on the Go, The Prosecutors, Court Junkie, Cold Case Files, I Survived, and Varnamtown. PodcastOne shows are available through PodcastOne, Apple Podcasts, Spotify, YouTube, iHeart, Amazon and wherever podcast ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $2,070 million, down 4% year over year, reflecting modest subscriber declines and softer advertising trends [18] - Net income was $204 million, and adjusted EBITDA totaled $629 million, down 3% from the prior year, with margins consistent year over year at 30% [18] - Free cash flow decreased to $56 million from $88 million in the prior year, primarily due to timing of payments and higher capital expenditures [19] Business Line Data and Key Metrics Changes - In the SiriusXM segment, revenue was $1,600 million, a 5% decline year over year, driven by lower subscriber and equipment revenue [20] - Subscriber revenue declined 5%, reflecting a smaller average self-pay base and lower ARPU, while equipment revenue fell 18% due to changes in chipset costs [20] - In the Pandora and off-platform segment, revenue declined 2% year over year to $487 million, reflecting macro pressure in the digital ad market [22] Market Data and Key Metrics Changes - Advertising revenue was mostly flat compared to the same quarter in 2024, with softness noted in the travel, auto, and retail sectors [12][24] - Podcasting revenue increased by 33% year over year, with the podcast network reaching close to 1 billion downloads in Q1 [13] Company Strategy and Development Direction - The company is focused on three key pillars: enhancing the subscription business, leveraging advertising strength, and optimizing efficiencies for cost reductions and higher returns [7] - A new ad-supported subscription tier is being launched, targeting price-sensitive listeners and expected to leverage the advertising business without risking premium tiers [11] - The company plans to continue testing and rolling out new pricing and packaging structures to better meet consumer demand [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's resilience despite economic uncertainty, citing strong customer satisfaction and essential service nature [9] - The company reaffirmed its full-year guidance of approximately $8.5 billion in revenue and $2.6 billion in adjusted EBITDA, reflecting confidence in operational execution and cost management [26] Other Important Information - The company has reduced costs by over $30 million in the first quarter, contributing to lower expenses across various segments [19] - The company ended Q1 with a trailing net debt to adjusted EBITDA ratio of approximately 3.8 times, maintaining a balanced approach to capital allocation [25] Q&A Session Summary Question: Thoughts on full year guidance and cost-cutting opportunities - Management indicated confidence in cost savings initiatives and maintaining margins for the full year, with ongoing improvements expected [31][32] Question: Additional color on subscriber metrics and churn - Management noted strong subscriber satisfaction and engagement, with minimal impact from recent price increases [42][43] Question: Details on the new ad-supported tier and its impact - The new tier is expected to be margin neutral and will be rolled out in a targeted manner, with significant addressable opportunities [52][54] Question: Insights on advertising trends and market conditions - Management highlighted softness in certain sectors but noted strength in others, with ongoing efforts to optimize across various advertising channels [70] Question: Clarification on tariff impacts and auto market expectations - Management expressed confidence in the resilience against tariff impacts, with expectations that any reduction in new car sales would be offset by used car sales [76][77]

Investment Rating - The report does not explicitly provide an investment rating for the podcast advertising industry Core Insights - Podcast advertising is effective due to the engaged and passionate audience, with 66% showing strong passion for their favorite podcasts [3][4] - Longer ads (30 seconds) are more memorable and create a better experience for potential new customers, with a 36% increase in aided ad recall compared to shorter ads [23][24] - Contextual alignment of ads with podcast content significantly enhances ad performance, with increases in ad likeability and audience engagement [66][70] Summary by Sections Ad Length - Longer ads create more memorable experiences, especially for new customers, with a 36% increase in aided ad recall for 30-second ads compared to 15-second ads [23][24] - Podcast audiences appreciate the amount of information in longer ads, with 50% agreeing that 30-second ads provide enough information [26][29] Music - Upbeat music enhances ad performance, with a 6% increase in persuasion metrics compared to mellow music [36][37] - Ads with upbeat music infuse excitement and energy, making them more compelling to listeners [39][40] Voiceover Tone - Mellow voiceovers are preferred as they capture attention and are easier to follow, with 87% of listeners agreeing that mellow voiceovers are likable [47][48] - Mellow voiceovers are more effective across branding KPIs, showing significant increases in aided ad recall and purchase intent [53][54] Contextual Alignment - Contextual alignment amplifies ad performance, with a 19% increase in how well ads resonate with the audience when aligned with podcast content [67][70] - The strongest driver of ad perception is contextual alignment, which significantly impacts ad likeability and audience engagement [66][69] Recommendations - Brands should use 30-second ads during peak attention times, leverage upbeat music to energize listeners, and consider mellow voiceovers for better information retention [77]