Financial Data and Key Metrics Changes - The company reported revenues of over $112 million, with $108 million from the audio business and an EBITDA of $18 million, exceeding previous guidance by $6 million [6][15] - For the fiscal year ending March 31, 2025, consolidated revenue was $114.4 million and adjusted EBITDA was $8.4 million [17] - The audio division generated full-year revenue of $108.9 million and adjusted EBITDA of $18.2 million [17] Business Line Data and Key Metrics Changes - The podcast business revenue increased to over $52 million from $38 million last year, with a quarterly revenue of $14 million and an EBITDA of over $900,000 [6][15] - The company has added 46 new podcasts in the last 24 months, totaling over 200 podcasts, with a pipeline of over 100 new podcasts [7] Market Data and Key Metrics Changes - The company has converted over 1.3 million subscribers from 2 million Tesla cars, with a total of over 1.5 million subscribers and ad-supported users [9][46] - The company has launched partnerships with Amazon worth over $16.5 million and a Fortune 250 company for $25 million, with 75 additional B2B deals in the pipeline [9][18] Company Strategy and Development Direction - The company is focusing on AI and Web3 crypto initiatives, aiming to cut costs and enhance marketing efforts [11][12] - The company plans to continue expanding its B2B partnerships and is optimistic about the potential for significant revenue growth from these initiatives [18][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to grow aggressively, highlighting the transformative potential of new technologies and partnerships [12][13] - The management noted that the current year is the most exciting in the company's history, with a strong balance sheet and growth opportunities [12][13] Other Important Information - The company has eliminated over $10 million in short-term liabilities and cut staff significantly to improve financial performance [8] - The company has initiated a stock buyback program, purchasing over 350,000 shares of LiveOne and over 1 million shares of PODC [12] Q&A Session Summary Question: Clarification on fill rate of over 50% - The fill rate refers to over 50% of advertising inventory being filled, which is expected to drive revenues and set the stage for converting free users to paid subscribers [23][24] Question: Details on Web3 and crypto initiatives - The focus is primarily on podcast content and building a community of crypto podcasters, with no plans to enter the mining or trading business [30][32] Question: Update on the largest B2B deal - The company is set to launch a B2B deal with a partner that has over 10 times the subscribers of Tesla, with high confidence in its potential success [51][53]

Financial Data and Key Metrics Changes - The company generated adjusted EBITDA of $246 million in Q4 2024, an increase of 18.2% compared to the prior year [6][20] - Consolidated revenues for the quarter were up 4.8% year over year, but down 1.8% when excluding political impacts [7][19] - The company reported a GAAP operating income of $104.5 million, compared to $79.8 million in the prior year quarter [20] - Free cash flow was negative $24 million due to debt transaction expenses and modernization costs, but would have been $111 million when adjusted [25] Business Line Data and Key Metrics Changes - The Digital Audio Group generated revenues of $339 million, up 6.7% year over year, with adjusted EBITDA of $119 million, up 2.1% [7][21] - Podcast revenues within the Digital Audio Group grew 6% year over year, totaling $140 million [21] - The Multiplatform Group's revenues were flat at $684 million, with adjusted EBITDA of $150 million, up 5.9% [13][23] - The Audio and Media Services Group saw revenues of $98 million, up 44.7% year over year, with adjusted EBITDA of $49 million, up 136% [15][23] Market Data and Key Metrics Changes - The company noted a slowdown in non-political advertising revenue just before the presidential election, which did not rebound as expected [19] - The Los Angeles market was disrupted by wildfires, impacting revenue, but is expected to normalize [46] Company Strategy and Development Direction - The company is focused on modernizing its operations, flattening the organization, and eliminating redundancies to accelerate earnings growth [5][6] - A comprehensive exchange transaction was completed to extend debt maturities and reduce overall debt levels, enhancing financial flexibility [5][24] - The company aims to integrate broadcast radio inventory into programmatic platforms to unlock new revenue opportunities [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for the year ahead despite economic uncertainties such as tariffs, inflation, and consumer confidence declines [26][48] - The company expects Q1 2025 adjusted EBITDA to be in the range of $100 million to $110 million, with revenues expected to decline low single digits compared to the prior year [27][28] - Management remains confident in the strength of their assets and the potential for recovery in advertising spending [49][50] Other Important Information - The company launched a redesigned iHeartRadio app, receiving positive feedback from listeners [12] - The company is the number one podcast publisher in the U.S. and is expanding its leadership position globally [10][11] Q&A Session Summary Question: How is the company thinking about monetizing broadcast listening going forward? - Management emphasized the importance of programmatic advertising and automated buying to fit broadcast radio inventory into modern buying systems [31][34] Question: Can you address the video podcasting opportunity? - Management noted that while there is interest in video podcasting, the majority of podcast users prefer audio, and the focus remains on consumer preferences [39][40] Question: What were the drivers of January's advertising growth? - Management indicated that January's growth was a result of a delayed response from advertisers following the election, but noted that Q1 is typically the lowest revenue quarter [58][60] Question: What are the expected drivers of growth in the podcasting business this year? - Management highlighted expanding product offerings, audience growth, and increased demand as key drivers for podcasting revenue growth [66] Question: Why was political advertising revenue lower than expected? - Management explained that political campaigns are becoming more data-driven, and the company is working to adapt to these changes for future cycles [67][68]