PodcastOne Sees Q4 $11.7M Vs $10.71M Est.; FY24 Revenue $43.3M Vs $42.3M Est.; FY25 Revenue $50M-$55M Vs $50.44M Est.
- Q4 FY24: Expects $11.7M revenue, up 32% YoY, with $256K Adjusted EBITDA*, a $470K improvement
- FY24: Expects $43.3M revenue, up 25%, with $660K Adjusted EBITDA*
- FY25 guidance: $50M-$55M revenue
- Added 30 new podcasts in FY24, with over 100 in the pipeline
- Closed B2B partnership with a Fortune 250 company with over 60M global streaming subscribers generating $20M+ annual revenues to PODC
- Sold "Vigilante" TV rights to a major studio; Owns a slate of 6+ scripted podcasts, including "Varnamtown", in negotiations for TV or movie productions
- Senior management to host a live conference call and audio webcast on Thursday, May 30, 2024 at 11:30 am ET
LOS ANGELES, CA, April 24, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- PodcastOne (NASDAQ:PODC), a leading podcast platform and a subsidiary of LiveOne (NASDAQ:LVO) announced today certain of its preliminary and unaudited results for the fourth quarter and fiscal year ended March 31, 2024 ("Q4 FY24" and "FY24", respectively) and provided other updates.
PodcastOne's President and Co-Founder, Kit Gray, commented, "We're thrilled about our continued success, as reflected in our FY24 anticipated earnings. Our optimized business model seamlessly launches and onboards podcasts, making them immediately accretive by leveraging LiveOne's (NASDAQ:LVO) resources. We're seeing unprecedented studio interest in partnering with our podcast slate, easily adaptable into major productions. With revenue streams from advertising, scripted series, and IP ownership, I foresee a clear path to surpassing $100M in revenue with impressive margins."
PodcastOne continues to develop and produce compelling and entertainment-based content to generate excitement and intrigue in the audio and streaming space. With podcasts being the fastest growing medium by far, PodcastOne is determined to remain the leader in expanding audiences and forging synergistic relationships for its podcasters.
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 Varnamtown, The Adam Carolla Show, Baby Mamas No Drama, True Crime All The Time Unsolved, Vigilante, Off the Vine with Kaitlyn Bristowe, The Prosecutors, Court Junkie, Cold Case Files, The Jordan Harbinger Show, Coffee Convos, LadyGang, and The Schaub Show. PodcastOne shows are available through PodcastOne, Apple Podcasts, Spotify, iHeart, Amazon and wherever podcasts are heard.