LIVEONE SIGNS BINDING LETTER OF INTENT TO ACQUIRE TRADER2B AND EXCLUSIVELY LICENSE PLATFORM TO GAMIFY LIVEONE

LOS ANGELES, Dec. 28, 2021 /PRNewswire/ -- LiveOne (Nasdaq: LVO), a global platform for livestream and on-demand audio, video and podcast/vodcast content in music, comedy and pop culture, and owner of LiveXLive, PodcastOne, Slacker Radio, React Presents, Gramophone Media, Palm Beach Records and Custom Personalization Solutions, announced today that it has entered into a binding Letter of Intent with Trader2B, an existing trading platform, to exclusively license to use and integrate Trader2b's technology and platform in all music categories in order to gamify LiveOne's platform and user experience, as well as exclusive option to purchase Trader2b's business or its assets and operations within 180 days of the gamified platform's release by LiveOne. This proposed acquisition is the 8th acquisition for LiveOne and is subject to customary and other closing conditions.

The new platform on LiveOne, which will kick off with 25 music-related stocks, crypto, coins, and NFTs and will engage consumers, drive memberships and gamify trading where users can win prizes from LiveOne's subsidiaries and partners based on their trading skills, such as Teslas, LiveOne Founder coins, live experiences, subscriptions, merchandise and more. The platform will also include specific additional features to drive LiveOne memberships and enhance users' gamified experience.   

"We are excited to gamify LiveOne and offer our 100 million + audience the ability to win over $1 million in prizes," said Robert Ellin, Chairman and CEO of LiveOne. "This new platform will offer LiveOne memberships exclusive and original opportunities while keeping members informed about new artists, concerts, events, and industry news."

"My team and I are thrilled to partner with LiveOne to create a platform that will be fun and educational," said Makram Kebti, CEO of Trader2B. "Trader2B has trained thousands of people in simulation over the last few years.  We look forward to sharing our knowledge and technology to grow LiveOne's membership base and their engagement across the platform while focusing on music stocks and offering content and prizes from LiveOne's products and partners."

As part of the exclusive license, the parties agreed to split net revenues of the gamified platform prior to the consummation of the proposed acquisition, and that LiveOne shall not be responsible for any set up, initial, maintenance or any other costs to operate the gamified platform.

LiveOne made history in 2021 with the launch of the first-ever NFT music festival poster for its global streaming event Music Lives, and again, as the first-ever pay-per-view ("PPV") event to offer an NFT with every PPV livestream purchase of Social Gloves: Battle of the Platforms. The event also offered fans limited edition NFT trading cards and coins.

About LiveOne, Inc.
Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) (the "Company") is a global talent-first, interactive music, sports, and entertainment subscription platform delivering premium content and livestreams from the world's top artists. The Company has streamed over 1,800 artists since January 2020, has a library featuring close to 30 million songs, 500 expertly curated radio stations, 235 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and has created a valuable connection between brands, fans, and bands. The Company's other major wholly-owned subsidiaries are LiveXLive, PPVOne, Slacker Radio, React Presents, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, and PodcastOne which generates more than 2.48 billion downloads per year and 300+ episodes distributed per week across a stable of hundreds of top podcasts. The combination of acquisitions and the expansion of products and franchises have secured LiveOne as a top-rated music, entertainment, and media services company. LiveXLive is available on iOS, Android, Roku, Apple TV, and Amazon Fire, and through OTT, STIRR, Sling, and XUMO, in addition to its app, online website, and social channels. For more information, visit www.livexlive.com and follow us on Facebook, Instagram, TikTok, and Twitter at @livexlive.

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: the Company's reliance on one key customer for a substantial percentage of its revenue; the Company's ability to consummate any proposed financing, acquisition, spin-out, distribution or transaction, the timing of the closing of such proposed event, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all, or that the closing of any proposed financing, acquisition, spin-out, distribution or transaction will not occur or whether any such event will enhance shareholder value; the Company's ability to continue as a going concern; the Company's ability to attract, maintain and increase the number of its users and paid subscribers; the Company identifying, acquiring, securing and developing content; the Company's intent to repurchase shares of its common stock from time to time under its announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; the Company's ability to maintain compliance with certain financial and other covenants; the Company 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; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company's subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2021, filed with the U.S. Securities and Exchange Commission (the "SEC") on July 14, 2021, Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the SEC on August 16, 2021, Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2021, filed with the SEC on October 29, 2021, and in the Company's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.

Press Contact:
LiveOne
[email protected]
917.842.9653
[email protected]
516.522.1349 

LiveOne IR Contact:
[email protected]
310.601.2505

SOURCE LiveOne, Inc.