“We hope Slacker and LiveOne will promptly reverse course and pay what they owe for the use of recordings that drive the value of their service. “Today, SoundExchange is taking a stand through necessary legal action to protect the value of music and ensure creators are compensated fairly for their work. Michael Huppe, President and CEO of SoundExchange, said: “By refusing to pay royalties for the use of protected sound recordings, Slacker and LiveOne have directly harmed creators over the years. “By refusing to pay royalties for the use of protected sound recordings, Slacker and LiveOne have directly harmed creators over the years.” “We currently expect those two subsidiaries to collectively achieve revenue in excess of $80 million in Fiscal 2023.” A LiveXLive app is also preinstalled in 85 other automobiles, as well as across major carriers, Verizon, Sprint, and T-Mobile, which allows Slacker subscribers to listen in their cars and on their. In a statement issued alongside the company’s financial results yesterday (June 28), LiveOne’s CEO and Chairman, Robert Ellin, stated that the company expects its Slacker Radio and PodcastOne divisions “to collectively achieve revenue in excess of $80 million in Fiscal 2023″.Ĭommenting on LiveOne’s results yesterday (June 28) Ellin stated: “The momentum in LiveOne’s audio business, which includes Slacker Radio and PodcastOne, continues to improve as a result of continued growth of paid members, through partnerships, including Tesla, as well as an increase in advertising and sponsorships. Distribution via the LiveXLive app, available on iOS, Android, Roku, AppleTV, and Amazon Fire among other platforms, as well as on the Slacker app. The lawsuit against Slacker arrived on the same day that parent company LiveOne published its financial results the firm’s fiscal Q4 2022 (Calendar Q1 2022), as well as its FY fiscal 2022 (ended March 31, 2022).įor LiveOne’s fiscal year 2022 the company’s revenue increased 79% year-over-year to $117 million, compared to $65.2 million in the prior year.
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