LiveXLive Media’s PodcastOne Partners With Samsung
LiveXLive Media has reached an agreement to have all PodcastOne content distributed via the Listen tab with Samsung Free. Among the shows that will be made available on Samsung Free Read More... The post LiveXLive Media’s PodcastOne Partners With Samsung appeared first on TipRanks Financial Blog.
LiveXLive Media has reached an agreement to have all PodcastOne content distributed via the Listen tab with Samsung Free. Among the shows that will be made available on Samsung Free include the Adam Carolla Show, Off the Vine with Kaitlyn Bristowe, and Bolling with Favre.
The agreement with Samsung is part of LiveXLive's () push to make its subsidiary’s content easily accessible in the fast-growing podcasting genre. According to PodcastOne’s president Kit Gray, a deal with Samsung will enhance podcast accessibility to fans currently using Samsung devices.
PodcastOne continues to develop and acquire content capable of generating excitement and intrigue in the audio space. It is also banking on partnerships to reach out to approximately 8 million Americans who are weekly podcast listeners.
“Listening to your favorite hosts and shows shouldn't be more than a one-tap process, and our agreement with Samsung brings fluid accessibility to podcast fans in a new way," said Kit Gray, President of PodcastOne.
Shares of LiveXLive are up 24% since the start of the year after a 112% gain in 2020. (See LiveXLive Media stock analysis on TipRanks)
For FY2021, LiveXLive ended with over 1.08 million paid subscribers having streamed over 140 live music events generating over 150 million live stream views. The company increased the revenue guidance for the fiscal year ending March 31, 2022, to between $100 million and $110 million.
On Feb. 12, following the release of the company's third quarter results, H. C. Wainwright analyst Kevin Dede issued a Buy rating on LIVX with $6 share price target, implying a 47% upside potential to current levels.
Dede commented, “Sales were up almost 2x from last year, propped up mostly by the acquisition of PodcastOne that closed July 1 last year. Meanwhile, there could be more M7A-related news nearer term, and we remain big fans of this one, as we have through thick and thin.”
Consensus on the Street is a Strong Buy backed by 3 Buys. The average analyst price target of $7 implies upside potential of approximately 83% to current levels.
LiveXLive stock scores 7 out of 10 on the TipRanks’ Smart Score tool, implying a neutral stance on its expected performance.
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