Q2 Fiscal Year 2024 Sees 121% Growth in Programmatic Revenue Over Q2 Fiscal Year 2023
24% Increase in Average Programmatic CPM Marks Company High, On Track for More Growth in Q3 Fiscal Year 2024
LOS ANGELES, CA, Nov. 30, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – PodcastOne (NASDAQ: PODC), a leading podcast platform and a subsidiary of LiveOne (NASDAQ: LVO), which owns ~80% of the PODC common stock, announced today the highest programmatic revenue in company history for the second fiscal quarter of its fiscal year ending March 31, 2024 (“Q2 Fiscal Year 2024”), 121% growth over the same period last year. Q2 Fiscal Year 2024 programmatic revenue also grew compared to the previous quarter, which had ranked as the company’s previous highest quarterly benchmark. As touted by MediaRadar, programmatic advertising is an emerging trend in podcast monetization. PodcastOne’s growth percentages put the company well in front of this soon-to-be industry-wide revenue trend.
Leveraging Adswizz’s ad serving technology, the industry wide shift and growth in programmatic advertising and PodcastOne’s expansive, premium inventory of highly sought after hosted podcasts, such as The Fighter & The Kid, The Adam Carolla Podcast, Cold Case Files, Coffee Convos and Off The Vine with Kaitlyn Bristowe, PodcastOne was able to deliver over 229 Million programmatic impressions for Q2 Fiscal Year 2024 an increase in impressions of 79% from the same period last year. PodcastOne is also celebrating its highest average programmatic CPM in Q2 Fiscal Year 2024, marking a 24% growth from the same period last year. PodcastOne’s fiscal year concludes March 31, 2024.
"The growth of programmatic advertising across the audio industry represents the maturation of podcasting as both a cultural medium and an advertising strategy. Like display, video, or CTV, it has proven to be an efficient, effective, and scalable strategy trusted by listeners and advertisers alike. As a network that’s leveraged programmatic for more than four years, our growth and momentum is credited to the appeal of our programming, the successful relationships with our programmatic partners, and the collaboration across the industry to educate and evolve programmatic audio," said Ellie Andrews, Director of Digital Operations for PodcastOne.
“In 2024 the podcast industry is poised to have over half a billion listeners with almost 50% of Americans admitting that they listen to podcasts. Time and time again it has been proven that advertisers can most effectively with cost efficiency reach consumers through our medium of podcasting. Our growth and forward momentum is credited to the strength and appeal of our programming with consumers and our sales team’s ability to capitalize on long standing relationships, creating new avenues of success for brands and our hosts,” said Kit Gray, President and Co-Founder of PodcastOne.
PodcastOne’s full roster of top ranked podcasts includes programming across top genres such as news, comedy, true crime and society and culture, including shows such as Bad Bad Thing, True Crime All The Time Unsolved, The Prosecutors, Court Junkie, Cold Case Files, The Jordan Harbinger Show, Baby Mamas No Drama, LadyGang, and The Schaub Show. PodcastOne shows are available through PodcastOne, Apple Podcasts, Spotify, iHeart, Amazon and wherever podcasts are heard.
About PodcastOne
PodcastOne (Nasdaq: PODC) is a Los Angeles based podcast network founded in 2012 by Kit Gray and Norm Pattiz providing creators and advertisers with a full 360-degree solution in sales, marketing, public relations, production, and distribution delivering over 2.1 billion downloads per year with a community of 250 of the top podcasters, including Adam Carolla, Kaitlyn Bristowe, Jordan Harbinger, LadyGang, and A&E's Cold Case Files. PodcastOne has built a distribution network reaching over 1 billion listeners a month across all of its own properties, LiveOne (Nasdaq: LVO), Spotify, Apple Podcasts, iHeartRadio, Samsung and over 150 shows exclusively available in Tesla vehicles. PodcastOne is also the parent company of LaunchpadOne, an innovative self-serve platform developed to launch, host, distribute and monetize independent user-generated podcasts. For more information, visit PodcastOne.com and follow us on Facebook, Instagram, YouTube and Twitter at @podcastone.
About LiveOne, Inc.
Headquartered in Los Angeles, CA, LiveOne (Nasdaq: LVO) is an award-winning, creator-first, music, entertainment, and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. The Company's wholly-owned subsidiaries include Slacker Radio, PodcastOne (Nasdaq: PODC), PPVOne, Gramophone Media, Palm Beach Records, CPS, LiveXLive, Drumify and Splitmind. LiveOne is available on iOS, Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV, and through STIRR’s OTT applications. For more information, visit liveone.com and follow us on Facebook, Instagram, TikTok, YouTube and Twitter at @liveone.
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “would,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: LiveOne’s reliance on one key customer for a substantial percentage of its revenue; LiveOne’s and PodcastOne’s ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, the timing of the consummation of any such proposed event, including the risks that a condition to the consummation of any such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, merger, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; PodcastOne’s ability to continue as a going concern; PodcastOne’s ability to attract, maintain and increase the number of its listeners; PodcastOne identifying, acquiring, securing and developing content; LiveOne’s intent to repurchase shares of its and PodcastOne’s common stock from time to time under LiveOne’s announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; PodcastOne’s ability to maintain compliance with certain financial and other covenants; PodcastOne successfully implementing its growth strategy, including relating to its technology platforms and applications; management’s relationships with industry stakeholders; the effects of the global Covid-19 pandemic; uncertain and unfavorable outcomes in legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of PodcastOne’s subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in PodcastOne’s Annual Report on Form 10-K for the fiscal year ended March 31, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 29, 2023, Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, filed with the SEC on November 20, 2023, and in PodcastOne’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and PodcastOne disclaims any obligation to update these statements, except as may be required by law. PodcastOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
Press Contacts:
For PodcastOne
310.246.4600
Susan@Guttmanpr.com
