{"id":103443,"date":"2024-10-01T21:05:25","date_gmt":"2024-10-02T01:05:25","guid":{"rendered":"https:\/\/www.cyberlego.com\/web\/2024\/10\/01\/tesla-to-end-liveone-streaming-subsidies-for-customers-sending-liveone-stock-down-23-2\/"},"modified":"2024-10-01T21:05:25","modified_gmt":"2024-10-02T01:05:25","slug":"tesla-to-end-liveone-streaming-subsidies-for-customers-sending-liveone-stock-down-23-2","status":"publish","type":"post","link":"https:\/\/www.cyberlego.com\/web\/2024\/10\/01\/tesla-to-end-liveone-streaming-subsidies-for-customers-sending-liveone-stock-down-23-2\/","title":{"rendered":"Tesla to End LiveOne Streaming Subsidies for Customers, Sending LiveOne Stock Down\u00a023%"},"content":{"rendered":"

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\n\tMusic streaming company LiveOne will continue to have a relationship with auto manufacturer Tesla but with less advantageous terms. Starting in December, Tesla will no longer subsidize LiveOne products for some of its customers.\u00a0<\/p>\n

\n\tFor years, LiveOne\u2019s relationship with Tesla has been a cornerstone of its music streaming business; Tesla vehicles sold in the U.S. with Tesla\u2019s Premium Connectivity package included a membership to LiveOne\u2019s Slacker Radio that was paid by the car maker. The \u201cstreaming\u201d button on the Tesla console led drivers to the subsidized, LiveOne-powered streaming platform without needing to connect to the app through their smartphones.<\/p>\n

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\t\t\t\t\tWhy LiveOne Called Off Slacker\u2019s SPAC Merger: \u2018It\u2019s a Tough Market to Come Out\u00a0In\u2026\t\t<\/p>\n<\/h3><\/div>\n

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\n\tOver the years, LiveOne remained a key streaming partner as the automaker added other streaming apps to its console. Now, LiveOne is losing its preferred status. Starting Tuesday (Oct. 1), Tesla replaced the \u201cstreaming\u201d button with a LiveOne-branded app. Come December, LiveOne will no longer be free, although Tesla will continue to pay grandfathered LiveOne accounts in perpetuity.<\/p>\n

\n\tWhile Tesla will no longer subsidize the streaming radio subscriptions, LiveOne will offer Tesla owners discounted LiveOne packages.\u00a0\u201cThe conversion opportunity has enormous upside by offering Tesla owners an opportunity to upgrade and have access on all devices at discounted priority pricing,\u201d LiveOne CEO Robert Ellin<\/strong> said in a statement. \u201cWe\u2019ll drive growth, unlock new revenue streams, own our data, and increase ARPU.\u201d<\/p>\n

\n\tIn the near term, however, the amended partnership will hurt LiveOne\u2019s financials. In Tuesday\u2019s announcement, LiveOne reduced its guidance for consolidated fiscal 2025 revenue to $120 million to $135 million from $140 million to $155 million. At the midpoints, the change represents a 13.6% decline. Also, LiveOne lowered guidance for earnings before interest, taxes, depreciation and amortization to $8 million to $15 million from a range of $16 million to $20 million \u2014 a 36% decline at the midpoints.\u00a0<\/p>\n

\n\tThe news sent LiveOne shares down as much as 32.6% to $0.64 before closing at $0.73, marking a 23.1% decline from the prior day\u2019s closing price. Combined with LiveOne\u2019s 23.2% drop in share price last week and Monday\u2019s 10.5% decline, the stock has lost 47% in just the last seven trading days.\u00a0<\/p>\n

\n\tTesla\u2019s paid members increased 15 times since LiveOne acquired Slacker in 2017, according to a LiveOne investor presentation<\/a> from March. LiveOne\u2019s management is focused on establishing new business-to-business and has been in discussions with 50 potential partners, according to the document.\u00a0<\/p>\n<\/div>\n<\/div>\n

Aller \u00e0 la source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Music streaming company LiveOne will continue to have a relationship with auto manufacturer Tesla but with less advantageous terms. Starting in December, Tesla will no longer subsidize LiveOne products for some of its customers.\u00a0 For years, LiveOne\u2019s relationship with Tesla has been a cornerstone of its music streaming business; Tesla vehicles sold in the U.S. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-103443","post","type-post","status-publish","format-standard","hentry","category-musique","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/103443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/comments?post=103443"}],"version-history":[{"count":0,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/103443\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/media?parent=103443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/categories?post=103443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/tags?post=103443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}