LiveOne (LVO) announced an amended partnership with Tesla (TSLA). Key Highlights: 1. Effective Oct 1, 2024: Tesla replaces streaming button with LiveOne’s in perpetuity; 2. LiveOne 2.0 launches, providing subscribers access to music on all devices; 3. 1.9 million subscribers can convert to Premium/Plus services; 4. Potential 3x increase in Average Revenue Per User; 5. As of Dec 1, 2024, Tesla will no longer subsidize LiveOne products to some of its customers, however, LiveOne will offer all Tesla customers discounted LiveOne music packages; 6. Tesla will continue to pay LiveOne monthly for grandfathered users in perpetuity.
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