LIVX - Earnings call transcript Q1 2022

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Operator

Good afternoon and welcome to the LiveXLive Media, Inc., Q1 Fiscal 2022 Financial Results and Business Update Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. Please note this event is being recorded. I would now like to turn the conference over to Mike Quartieri, Executive Vice President and Chief Financial Officer. ahead. go Please

Michael Quartieri

call Good from limited future discussed update Danial. company's for the welcome LiveXLive and call on to filings quarter Chairman; CEO variety the financial Annual Thank subsequent McCormack, Dermot financial afternoon results future of the business President; on company’s today's Presenting XXXX. and June Mike the regarding of Rob differ to expected conference Media’s a Ellin, forecasts, refer ended March and Quartieri, to and results you, SEC the reasons. to involve and myself, XX, and are are call Officer. first today's call on risks Financial Chief of SEC to about cause based company's These materially but those made current XX, would future growth statements year like could results filings. in the the information statements these those including that the expected results remind with XX-K are factors XXXX forward-looking for statements and and you and uncertainties. Actual the company's the not I that various this on actual expectations, for on statements, some company, Form including business. described Please from assumptions of performance for differ materially include, ended which forward-looking Report its may are

to management's to including time information ir.livexlive.com, earnings of sensitive company questions content. periodically measures its call the which And non-GAAP visit on of to and its you today is The this webcast of revise its company date as information reconciliations the required in find section contains to replay company obligation after important at following it call. via except and website company’s to most encourages available XXth. by the for August or any on of Relations GAAP does your will view this Relations date The the will discussion this measures shortly call. to release, call following Investor investors highlight of responses is IR the undertake available the reflects website the to media website Investor discussed I being update this making that You conclusion the as recorded. a comparable in investors the law and financial financial like the not is be posted

the written without the the company it rebroadcast Additionally, consent redistribution, expressed of or and retransmission of strictly the call company's prohibited. is is form any in property or the any webcast

the Now call CEO, Rob let me turn Ellin. over to LiveXLive

Robert Ellin

fiscal and update. Thank you, for first us Mike. Good business afternoon today joining for XXXX you everyone thank quarter

for straight upsides quarter growing storm. of of delivered million TAMs continue multi-billion six ago my $X team history. XXth the Amazingly, in Three to focus took and now by owning transformative with sustainable and long-term each I'm have the far $XX.X building to we a on together the has quarter million We dollar and years IP revenues. in technologies. all biggest the are we franchises, to public record company proud perfect valuable objective revenues say

$XX drive a on events, merchandise hoard up. signs October starting to the that live Almost COVID our their Today using is OTT, ones, Spring subscription open to both Awakening this to leading of none live revenues seeing as and had main social We push our are our we streams, than with and into XX our podcasts is to in we're as digital recognition live million talent-first due well evolved events XX back to events event other building super brand live and focused talents. music and LiveXLive to in grown flywheel. platform telltale

of opening getting we're our the As close COVID live were to the to able a of first prove to use flywheel. events and event we end

platforms gloves engage in-person social and Our flywheels screening event transact. cemented view zygotes media attend global and per post-COVID-XX pay live first a our interaction. watch modern true fan battle Listen of

Gloves day. LiveXLive the triple with garnered average reached and to X.X billion XXXX%. a it up engagements grow engagements year-over-year over over continues Social total platforms post social engagement's by XXX% media and digit increase

thousands Social of to That's who Hard for attends Gloves of Madison that's Rock Stadium. that. pay to six per equivalent This feat out Garden times. is in a some tremendous views, landmark XXX,XXX a selling addition Square the fans

will connecting a names an as together pop and as The per long-term proud these new about slide view Having very Hard per is the key in showcase Music of properties the producing X,XXX these. as form subscribers wide Hard with Rock our partnership Rock Hard entertainment some to stars global original of with is pay in bodes select of alliance multiyear bringing pay new and Music two all franchises DJ partner into our can return. Lotto International paid Amigos, biggest tap and leader performers provide Cafes hip bringing of Lives integrated us the music deals from rate merchandise live the International Sabbatino. represents events grew nearly Partnerships podcast Baby. LiveXLive the as business. DNA NFTs Joe, for to the sports, and conversion addition selling media strategic Hard In LiveZone, X% our listen, well drove events Social life and with Self with social together and distribute we us lineup nationwide. hop new Rock. with transact streaming. presents NFT a build and The phenomenal live franchise. Gloves directly Calvert, our Rock multi-million to model NFTS. Flywheel engage new music, events The in with Blazer leveraging exclusive packaging will watch, Made a well Fat two-year, Rock pop view resorts showcase culture culture as and of amplify now a dollar explosive that staggering attend, for night very with platform this which town events creating Trailboy stadium LiveXLive’s bring Lil even a Proving We're and in featuring to and us Again

wholly Our XX downloads bill. productions with in PodcastOne the podcast had June XXX billion podcast X.XX than now period owned per There’re exclusive XXX week. and grown of has trailing over a podcasts of buy acquisitions shows ending months more more both subsidiary franchise than series XXth XX and episodes new its to

We distributed we LiveXLive personalize work reaches our subscription PodcastOne, content XX-hour now a events growing robust XXX channel that complementary fashion. In livestreaming, and solutions, through entertaining have flywheel people in synergistic roster that OTT merchandise our radio, with incredibly LiveXLive wholly businesses act podcasting owned original that LiveXLive created million we a together have which platform. to improved our is of Slacker of radio, franchise about custom month. through and

audience a XX, As consecutive margin we a while record that revenue $XX.X in listen, with $X.X report describe, XXXX, ended increased increase consecutive the pleased XXX% XXth quarter attend, XXX% along watch, engage, our to contribution can is record June of and first which million. I’m transact. revenues to record quarter million,

increase $XXX increase previous million operating priorities $X nearly in $XX to current March our with between all our and momentum we year and and for - the a excited million guidance the between million operations revenue we see of a income segment million XX fiscal for business our with guidance $XXX Given increased a are verticals, our to to adjusted $X million.

of the our As was history cash in the equivalents million. highest XXXX of and the June cash at $XX.X XX, company

presents. streams revenue the acquisition of of the a company acquisition we diversifying event of and the paper substantial and Over of business the the de-risk of acquisition revenue XX e-commerce past business our CPS view months, sponsored component with music live as by is early launch a advertising XXXX PodcastOne our in the addition result react

to music and platforms. Tesla a content States. television, nine streaming festival officially top biggest platform lineup was artists Dylan producer still available. our and performing are across first is in is Facebook year including X.X Melissa across our million its broaden scheduled year such of streaming event offerings subscribers Presents Reacts and over its XX. the with fact and one artists LiveXLive electronic reduced Media accretive probably first recent admission the course Chicago We award as continues the its McCarty, X our streams XX-plus podcast its with franchises eye of to Howard's network successfully Festival, returned to the PodcastOne out live of Schroeder, the United podcast Spring expand most tier IP featuring is towards distribution Through fully and had development partnership past movies iconic fiscal over The for VIP active world, most time. XX% XX% year. from partnerships, meaningful some feature Empire McLear. package, have sold Awakening our general in to just year, Cars, acquisition In of an users. live up live made entire music this of tickets of the exclusive with this resulting creator scripted Perfect XXX for We largest audio million, PodcastOne of announced selections paid We'll Awakening The Spring of to led event and only in in events IP of the XXXX. festival Wachsberger October Barbara Midwest's in production diversified grow already the with XXX-plus are revenue over currently film includes Kelly Group, limited a this of and the PodcastOne and PodcastOne's continues shows, LiveXLive. recently the four of to quantities quarter. Patrick will an unique events multi-genres non-scripted ramped subscription to winning stocked of the with app July partnership we which The one concentration X.XXX revenue the available Music of is we be our XX return to our just revenue all able and stages. to as Picture monthly under Federation, being

last Additionally has now Asian per K-pops million our May per Jones. the of merch as talent pay view announced podcast LiveXLive live a platform pay destination our has In both merchandise Since greets realm directly sales digital and pay Music Club digital our NFTs per in sponsorship X, sales we about ticket events consumers sales. celebrated sharing details and meet using for spoke programming the hundred largest call LiveXLive enabling to President LiveXLive are efforts. Festival PodcastOne's I to drive to revenues introduce view in Joy pay company now original platform. planning McCormack view recent launching Dermot Ruckus Jordyn produced LiveXLive would to into bring tipping a $XX to programming generated on investment commitment XXXX and which Partner and a LiveXLive premiere social per content. artists few LiveXLive its for like influencers establishing K-pop. the over sponsorships continues go global events, new to I my to models significant and views original artists more of and provide

Dermot McCormack

congratulate live Thank thank like brought what groundbreaking to LiveXLive. your And life - flywheel you it to our say establish enhance of on the we team been events. and Rob. vision home live has I I'd you, the quarter joined we and with I would that this brought for We continued for. leadership

unlike with early other not You're managing in that each a Viacom's complement of building portfolio. synergies and of I digital the originals portfolio brands days what all saw

a landscape. We changing for that a on realities conglomerate, opportunities media true built ever path the become in exist are to today's and

evolution and IP things of of our I'm original One is production content most the excited the capabilities. about

and in quarter revenues are which and will own developing proprietary content the future quarter We this we IP down invested on doubling our implementing in and million current $XX.X and events contribute new to in franchises and specifically revenues. drove

a will edition have talent including Made and have Awards. Over across The audio competition with online PodcastOne. big prize by competition month network. next franchises worth Self star We've we total LockDown area competition shows top Self-Made panel PodcastOne's the chance a a the to contract the over forward the fans also who a as podcasting take they listen past we podcast find an year package launched we for to $XXX,XXX to that and going including launched of launched podcast this new valuable believe the be driven and promotion PodcastOne see judges will the become

and cheek and tongue live the Oscars of artists Ross. in award nominees new celebration the world music this and Breakout hosted look shows master we Jeffrey also the roast Snubbys a to fall coming by brought We've have himself of edition now The Our from the a at actors called the Grammys the Awards. that

Music in to from have Music iterations two Like our digital last On big grow A expand festival. I months continue advertisers. in We hit XX September and music coming another series with live and Vegas. been Life lives live installment to really Presents a Lives with and the continue Las

credibly took moment produced notice. We are everyone rare an new basement way everything music, we But type of invent have sports seen in set game and a get Miami this notice the career event that in stage you we Stadium. in quarter to the NFL boxing at my artist's few was COVID we event from that lead sports my one and media company broadcast during concert we the feel mega influencers, a creatively. to music are together before feel away and is it and brought in music tuck we those a produced of format. watershed experience last quarter and changing to companies the live watershed music a Last evolves. in continue In how entertainment Everyone really a to social not moment

have Made winners a with feature announced by the female technology sports of from version AIPA new will Self fashion $X in the boxing women called the million music, and headlined event over a for view already per prizes. pay We media, vying format social that Knockout

for the a quarter believe which We of expect current date to fourth soon we the in location event be year. announcing will calendar and be this

automobiles is per Stay more and of been have sales. from events excited pin events digital see unique supercharge to view to our tuned to sales these how pay We sponsorship to fall for and ticket paid also LiveXLive flywheel and these those slacker and have hybrid physical that see for to a compete arrangement devices. LiveXLive merchandise subscriptions. to Horizon and subscriptions Of as sold automakers. we radio other business and is that LiveXLive the is opportunity a well cars number be on a significant Previously preinstalled Europe Tesla across T-Mobile in through preinstalled directly allows slacker we the service European their mobile the mentioned significant as as listen Tesla partnership America Tesla radio which by subscribers coming the car app in for of and to subscription subscription opportunity service for is months. their XX in the radio into added become carriers The in expand exclusive major default importance Sprint weeks new in default with LiveXLive every

over forces sales tied hand licensing Quartieri, results. RFTs who music it this our our original an to honorable history time the that extremely will and news million to I $X have would combination Our than as And before we Mike front advertising finally review happy now of close our in see QX with to to end deals dialog on continue more grow labels any size. of we in some and hope to like to other CFO, and content year. the the are unique continues our

Michael Quartieri

Thanks, Dermot.

and compensation. tickets a $X.X their which CPS, of events audit, quarter. to offset which benefit advertising, Let flat essentially a for related successful noted quarter a losses Adjusted in in me pay increase operating operations by and the view was Consolidated year-over-year of and XX% few related and the compared royalty due from to subscription sponsorship charge a during coupled fiscal of various $XX,XXX a XXX% prior due year-over-year, year. Social The compared to labels. QX, XX% company QX spend resulted in last our per increases related sponsorship charge related record XX% $XXX,XXX subscription the a prior acquisitions and was per QX saving year-over-year. Gloves additions PodcastOne the pay the revenue year-over-year marketing our primarily segment of austerity year-over-year million, overview in our PodcastOne includes provide other from increase and which $XX.X were Adjusted revenue million, company is for to QX streaming subject in CPS a event, year company's $X.X improvement the in content events, recognizing were loss year-over-year live of an is and of totaling increase provided million, our our $X.XX and costs, investments prior not a year’s $X.X public measures, million subscribers. music This corporate partially audit $XX.X pay XXX% prior pandemic, integrations In the and to to in quarter are multi-year minutes was view areas margin a This ended capital XXXX we in QX of passed $X.X subscription revenue and X.XXX for was of to of payroll brief a million since CPS benefit acquisition, was to PodcastOne up annual record diversification royalty the revenue of the increased to This the to Back in included to live revenue totaled acquisition related with the the million. which comprised sponsorship, our consolidation. loss our of operating within and merchandising, in are in June and event. as subscribers we by cost for the by the revenue base. the this a accretive of taxes PodcastOne, million, and the that arose results, advertising, which which additional business related revenue music the and The improvement dispute, effect seasonal the note XX, given is height year $X.X operating and quarter. We the Please attributable total by associated expected operations $X.X driven number efficiencies the result anniversary of multi-year dispute QX of completion COVID-XX as position though React, that view, CPS PodcastOne revenue. of with up $X.X adjusted CPS, well which Note, Even per view the the per contractual to year. were in PodcastOne certain are our million CPS year. currently as over during we our million $X.X first of implemented XX% of pay production $X.X we revenue revenue not by million and was as of income was six-month is million, our nature with paid year-over-year prior one licensing, year our over in our business million, continue of as measures the generate the to and above enhanced units, Adjusted to that was million quarter to the anniversary higher and look the savings. announced our event one in on expansion personnel Contribution operating from sponsorship ticketing operating sponsorship, of the acquisitions we've offset March, up in revenue stock-based our was of on and and live working basis. the results.

periods. measures of up prior $X.X XX has $XXX,XXX are series expected million to of generate an that realized savings flow which June been to a additional approximately in bringing to with to through implemented million just savings, in annual annual remainder additional total have $X.X the the future We

million restricted had - The from Turning with investing $X.X driven $XX.X during to cash proceeds activities offset activities inflows including net financing and approximately over QX balance the $XXX,XXX from we year ended million largely was from sheet by cash million net cash the from by ago. of a $XXX million year increase of of $XX.X $XXX,XXX of $X.X the up we cash operations quarter. sorry year

the million during PPP forgiveness capital of the working $X.X improve by loans the of prior million which efficiency efforts continued improved year to received the deficit was million. the net $X.X $X.X remaining quarter result Our working of and of capital in

XX cash as August Our was million. of position $XX.X

notes of holders million convertible Rob. with company's into And capacity interest Lastly In West the to rate East and maturity and the of their over notes in of company's facility revolving it interest facility plus Bank line assets. an borrowing June entered the with credit me agreed we a prime connection of extend a with security to let with back their the that credit in up X.X%. hand this all to senior secured date subordinated of $X

Robert Ellin

with record guys Yes, and to quarter that Records. one a the really obviously contracts with We extended more so terrific was Sony but the and you our thank labels. excitement come Dermot articulating

balance the It's now strength time companies. car now globally. expand sheet and it now the to that labels it's - Our other time is expand to

for We’re XX time label we see a lost time And that looking months as XXX the XX really more I there's to do to forward as special we you is said October. it's live over music. revenues know in We're like cars come adding us live live events, as now Tesla. for back really our really exciting This almost in company. type you white for events starting to off take now to time over deals a and substantial you know

COVID. everyone. is the quarter really down I'm think you sticking $XX exciting. they've I through built the want now gone thank we've and And what of thank accomplished what a this my know company line of and So million supportive from million everyone doing to really to want team way in with a to to $X they really management and and and company all being I proud my everyone for

questions. look So I thank you forward everyone. Thank you everyone, to

Operator

question Please ahead. The Securities. of Barry Spartan first Instructions] Sine Capital comes [Operator from go

Barry Sine

surge drove that on so presumably we Gloves the Question big big Social lot of surge revenue saw. the of in a that

If this that little some the revenue the the a And we'll what And Q I that, occurred. they see ask guess how can costs bit just in that. on. breakdown of you But more you've then reiterated event fall on event that I with you I guess are the an have go give later like If that us reported it you coming reported. similar what events Spring just then And be those called are more Awakening that on be also to Gloves at we Self year at would major with you look Made in have fiscal Social you later just be what upcoming analyze knockout? we we looking two events Equinox. the would reason comparable

Robert Ellin

Awakening know revenues, Spring we've been And has trophy so $X of city from property, $XX Yes, always to anywhere you into brought does reacts, just and right. right. Chicago, your it million and back million the expanded

So the already it And fully we've then expect one. there. second announced

franchise. more one like out of IP And What own the be expect social here far here built the we as going IP. absolutely And we reaction so fully stronger one of female then traction events will know and this. only it. the seen will Social buyers not right we we've is of to very similar this reaction will second of a the this, be max a they're And built we component is - version go and is as to many if you LiveXLive. now the So Gloves right. be And actually spectacular, potential boxing built audience

of hard was the in So be expect a it, the work and we And more we done first be it event. about couldn’t extremely lot excited to profitable.

Barry Sine

of understand, the what's at was numbers profitability Gloves, events in the can have? much consolidated reason could I the us how like I the that basis looking some driven you by you And is event how an that have upcoming forecast And to again that. if help ask Social so

Robert Ellin

exact IP I you and come in basically would could here, you Hard but already that going the that numbers for we’re this that done of yes forward it’s one we the add with the, And building adopt, the success a want Rock, right, yes and kind one. money up around some so event likely we're said you know much excited first say work really from the sponsorship, thinking want to about start so actually and right, assume $XX anything the Yes, of spectacular you to to was add close add because next can going, hard breaking how XXX,XXX really some the very jump success ticket, to not if it’s of right. and tickets, numbers, down Mike? of is to Do Mike production you came in

Michael Quartieri

think the just of of not kind the you that commenting out of sure it But of our to profitability sure I was make that we back and capabilities on point to our careful any is to specific Yes, to to things one on wanted proved items. one important team of very this to of we tech we're want to and of things like it want make the one this the especially get - very stack.

that hours flawlessly says very the a imagine of XXX,XXX being place hours. place of portion with taking the The off within So last took took within before when sold. thing majority and I probably majority couple vast tickets this place vast of good those the you if event all went that eight Rob can mean last

that testament fact to as a of volume team were to event. the the to made in able flawlessly tech we that is So the stack and part that handle we this investment also that

profitability comment little item the and on it's to itself. process this were one so on team I to And the using therefore of unfair the capabilities prove out it we really think a when

Barry Sine

more the well. you'll comes a there out out be guess visibility I And when a break as little little do Q Okay. there'll

Michael Quartieri

There'll be some. Yes.

Barry Sine

Okay all right. That's Thank my question. I call. don't hug want the to you.

Operator

from go Partners. Please Alliance Kinstlinger Brian from Global ahead. comes question next The

Brian Kinstlinger

looks groundbreaking the but the is, with take agree And gross events Clearly can maybe so drive the like profitable EBITDA what of would become was happen I water mark these Gloves expected did And it think up the margin lessons don't fantastic have that learnt lower these to million that revenue which away future it low that what I numbers? when is adjusted be guess and loss you revenue? the thought? gross you $XX than would with have and revenue Social in you high I margin given the street put I and

Robert Ellin

that? Mike, take want you to

Michael Quartieri

Yes sequential, well, operating do maybe kind I'll and I'll also of kind maybe let a at year-over-year through it of look consolidated from perspective. income what a talk overall basis and me is bit talk on just quarter a

So couple the things. at just this when we look a we quarter, for back overcame year, of

really content before So the and fiscal in nature the when combination results. CPS of one, those commented the the addition about There's about we've you million huge we've And results investments the plus units. with making operating it negative are $X.X and have retailer. especially on top year the business drive to marketing - XXXX, as into their it’s that's PodcastOne, seasonal of kind loss. $X back CPS of into to in and that of towards of been given future those the half comes really to a of seasonal and that, their a million impact geared

to in period. calendar be a And margin operating so holiday you end which through and the QX huge the in QX, what profit which year would come this QX sales with expect loss is is

this the XX% we around last us weren't over hit austerity million about by completely implemented cuts unexpected. taken primarily all those effect cuts we addition, was In measures had And quarter. audit, in for which come year-over-year the which $XXX,XXX, during And pay $X.X in employees. had we was that which pay royalty really year, XX% to

So some at been performers are PodcastOne back do don't myself picked versus issue. of as result I want north gave a then kind to lot to perspective. a from FD a there And my of Reg would that, same-store operations a have But the in model get really and just you well eyes of way to people math million. whole a to the in get with you of you CPS look headwind have But if profitability for in more and plus is that what which could reasonable some up you $X would we get back year-over-year.

Brian Kinstlinger

marketing Okay and the follow-up $X.X in spend. and is, content only then my million

million that plus would of or Are beginning are just you'll the year those you. expenses quarterly of and maybe out? those like did you expenses ran at first increased recurring the Thank Sounds that the in $X quarter. how P&L play thought have the through what

Michael Quartieri

about you media increase this in and quarter point world's the at slight no than a QX. their and tell would back different We to up is same million sure of of to start this company are time. line And accordingly. those other for front joined any in to whole people why we why Comcast And part make if Viacom had back you I sequential this content Dermot wanted the that, to $X.X remember reopen story with company to that's where expenses. growth around listen similar that's And sure think maintain in make reason that's I is - want we the that in content. to able of be this investing they’re strategy call. the that earnings

Dermot for So give responsible to person perspectives able the his of it. on was who's all content our

Dermot McCormack

we working of and is, done production the ever Mike that And no at you did corporations and a - me from like year a when And what around a this do asked When in one efficiencies especially has and nobody huge has the places ever done attempted inaugural you - as learnt the before questioner a lot. we - world even learnt, which on we event VMAs just question marketing. level background an drive let business. tadpoles on the in jump

and will to those We lead the next why first do the because way now is ones apply we learnings. we're

areas them to was about this and going key we in apply a go learnings as lot So we're forward.

Brian Kinstlinger

Great thanks much. so

Operator

go [Operator The comes next [Jeremy ahead. from D.A. question Please Davidson. of Instructions] Lieu]

Unidentified Analyst

So question I and one have follow-up. one

your of festivals XXXX a percentage event versus XXXX XXXX? live from in to having to - expected point return what question and are vantage First

Robert Ellin

could is can't that we a very been be we - you the It's question go in. higher obviously is part be vaccinated exciting variant States tricky and in back mean way scary. can't. is to vaccinated right. right AEG soon country's with But today the kicking just came out and this I United the in must the half is

going So I they’re shut don't down. them think to

I get down. think shut going very are few to

going to is place protect safer just put rules to it in I make that environment. implement think people they're - a going and

of don't signs. And lot telltale a so we see

Lollapalooza the know the no intentions In Chicago current people which and And just Chicago. with have of they leading is fact on government as in event we're you phone in shutting biggest Chicago. down events on happen the

going with costs know it. we to October. about pretty you Spring to occur some be we're There Awakening as are COVID So excited that and pushed

States I have So way, unique think to get are to exactly you're tell to going don’t United a going be it I couldn’t shutdown. the smart you and you’re in to about many going in handle what have to but percentage it

Unidentified Analyst

one three consumer the Okay thanks limit Rob understanding you early in then rebundle rather content than to themselves that services. to [SPOD] and were would

So implications for of LiveXLive? rebundling the are what this

Robert Ellin

There we lot you hired a our circling company. of as around know has been options right. all to Well as JPMorgan for the explore people bankers

of lot interesting company. a TAMs within have this We

You of a whole the them be to acquire attempted business, be one candidate division one the right. that of of have could divisions a spinout six to them any potential to

I center the we're the So right in think of storm.

right. got we sports did opportunity smart. that just early really brilliant it what it's When right team of my coming ago a if just back. just really flywheel And us everyone opportunity the built where has prove and that We and is that think around we're Live and the I enhance going an job around this - XX like to I curation building to done think you to started - not surviving had give to Live is you years and curation watch build just did.

in for right. and looking production what done Rio is world in for the And Gloves that content at Social when Rock everybody It's you're content. we've a in years. best doing watch

One our on Facebook podcasts at as pay distribute cost our new they content Facebook $XX,XXX compelling to we’re - to is of of see audio for hour. under platform. Facebook content right take all an two their a by Right partner stream our per for events, build cost as really still can you our deals that them. two number average view as to per Our hour

but had to many across announced we platforms at keep growing our podcast So Samsung, the they XXX to globe. million around right number

Unidentified Analyst

Great, thanks questions. my taking for

Robert Ellin

you. Thank

Operator

are that turn seems CEO there like no Chairman Rob Ellin, to conference I'd remarks. back to closing the and questions. It for over further

Robert Ellin

everyone. you Thank

remark when [indiscernible] started I $XXX my institutional as broke closing get million revenues you to started history in a holdings. as very out Just you different

plan time momentum of here. lot a the and Feel to terminal at with as it We same with that trading break $XXX got didn't $X now billion Barry to sell valuation. You the we The interest InterActiveCorp. as Diller around million it to It's sold at digital revenues. is thing right Intuit in company. growing. close The thing you same

We a team. we world-class team class have have management world

a ever I right yesterday company We fun head five of who in just and keep Nike. of was of continue bringing will We're years great professionals of the together. have we XX world we'll that fans. is keep We're grow team most If the the to going billion Michael be named had billions of most and that partners class revenue. at Jordan never plus exciting of board to have super talent dollars plus great involved. all It's been on Wright tens people in first great company have involved subscribers here in. brands I've going Kris $X focused million to I also been built the companies. have Board joined anyone This saw

everyone you thank for and you the appreciate everyone support. thank So and time spending

Operator

now today's for is concluded. presentation. you conference The attending Thank

disconnect. may now You

LiveOne (LVO) 13 Aug 212022 Q1 Earnings call transcript