Partnership With VersusGame Will Drive Listener Engagement, Monetization and Retention Through Skill-Based Gaming
LiveOne (NASDAQ: LVO), an award-winning, creator-first, music, entertainment and technology platform, announced today that PodcastOne, a leading podcast platform and a wholly-owned subsidiary of LiveOne, now offers listeners a fun and innovative way to engage with PodcastOne’s network of award-winning and top-ranked podcast hosts through gamification. Powered by VersusGame, PodcastOne has launched MiniGames on their platform, enabling their listeners to watch and answer prediction and opinion-based questions to win rewards.
This endeavor marks an exciting introduction into gamification and monetization for PodcastOne, its host talent, and advertisers allowing them to create or sponsor relevant and topical content for fans that will reside on PodcastOne.com. MiniGames created by PodcastOne show hosts will also be distributed across the vast VersusGame MiniGames Network which includes over 900 verified hosts.
Now live on PodcastOne.com, the MiniGames experience provides users and fans the opportunity to engage with relevant gamified content within the natural ecosystem of the site. With games in a variety of genres like Television & Film, Music, News, Sports, Lifestyle and more, players now have a content experience like never before combined with the opportunity to win exciting rewards. “With over 200 active podcasts, PodcastOne is a powerhouse partner for us,” said John Vitti, VersusGame Founder and CEO. “We are eager to share our interactive content solution with their amazing audience.”
VersusGame MiniGames are a way for publishers, platform owners, and other creators to add a new source of non-advertising revenue to their existing business, completely net of costs. MiniGames can be used to make passive content instantly interactive and entice future-based excitement. MiniGames increase engagement and retention while maintaining a high level of contextual relevance so as not to compromise the user experience. Partner results have shown an average 27% engagement rate and 55.6% click-through rate.
“Our partnership with VersusGame is another way for us to capitalize on fan engagement. It’s a wonderful opportunity for us and for our hosts to engage with fans in an interactive way. Offering users the chance to win financially, while also generating internal revenue is a win for everyone,” said Kit Gray, President of PodcastOne. “Bringing gamification into the PodcastOne world brings our listeners into our shows in a whole new way. Now they get to engage directly with show hosts and participate in the conversation. It elevates the listener’s experience like never before.”
VersusGame announced the launch of their new product MiniGames last month, an effort that instantly creates a massive distribution network of gamified content by bringing it to popular destinations where people already spend their time. VersusGame’s Founder and CEO John Vitti said, "The largest companies in the world saw the success of VersusGame and insisted that we bring the technology directly to their customers, subscribers and fans and directly on their consumer platforms." VersusGame is a product that rewards people for their knowledge and monetizes intent like no other before it.
With podcasting becoming more popular globally and demand for engaging content on the rise, PodcastOne’s foray into gamification is on track to meet the growing importance of giving its audience a new avenue for engagement. In an effort to reach their broader audience beyond the website platform, PodcastOne plans to roll out a social media content cadence to share MiniGames with their community. In addition to evergreen games, the trending and topical subject matter of many predictions and opinion-based polls calls for timely sharing on social media so users can maximize their play.
VersusGame is a product that rewards people for their knowledge and enhances what people are doing in a fun, natural way and where they are already spending their time. VersusGame MiniGames monetize intent like no other company before. Thousands of VersusGame partners and clients promote their games through social sites and their own websites and apps.
PodcastOne is a leading advertiser-supported podcast company, offering a 360-degree solution for both content creators and advertisers, including content development, brand integration and distribution. Acquired by LiveOne (NASDAQ: LVO) in 2020, the two entities have subsequently teamed to create a new video podcast (Vodcast) network under the LiveOne umbrella. Amassing more than 2.48 billion downloads per year with 300+ episodes distributed per week across a stable of hundreds of top podcast programs, including influencer talent and television personalities such as Kaitlyn Bristowe, Steve Austin, Jordan Harbinger, Kail Lowry, Heather Dubrow, The LadyGang, Melissa Gorga, Teresa Guidice, Savannah Chrisley, and top-rated true crime shows including Bad Bad Thing, The Prosecutors, True Crime All the Time Unsolved, Court Junkie, A&E’s Cold Case Files and I Survived, American Nightmare and more. Its shows are distributed across its own platform as well as LiveOne's owned-and-operated channels on mobile, mobile web, desktop and SmartTV's. PodcastOne is the parent company of LaunchpadOne, an innovative self-serve platform developed to launch, host, distribute and monetize independent user-generated podcasts. PodcastOne is the brainchild of Radio Hall of Famer, Norm Pattiz, also the founder of Network Radio-giant, Westwood One.
About LiveOne, Inc.
Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) (the "Company") is an award-winning, creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. The Company was awarded Best Live Moment by Digiday for its “Social Gloves” PPV Event and has been a finalist for 8 more awards, including Best Live Event, Best Virtual Event, Best Overall Social Media Excellence, and Best Original Programming from Cynopsis and Digiday. As of January 17, 2023, the Company has accrued a paid and free ad-supported membership base of 2.7 million**, streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, over 300 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and created a valuable connection between fans, brands, and bands. The Company's wholly-owned subsidiaries include Slacker Radio, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, LiveXLive, PPVOne and PodcastOne, which generates more than 2.48 billion downloads per year and 300+ episodes distributed per week across its stable of top-rated podcasts. LiveOne is available on iOS, Android, Roku, Apple TV, Amazon Fire, and through OTT, STIRR, and XUMO. For more information, visit liveone.com and follow us on Facebook, Instagram, TikTok, and Twitter at @liveone.
All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the Company's reliance on one key customer for a substantial percentage of its revenue; the Company's ability to consummate any proposed financing, acquisition, spin-out, special dividend, distribution or transaction, including the proposed special dividend and spin-out of PodcastOne, Slacker or its pay-per-view business, the timing of the consummation of such proposed event, including the risks that a condition to consummation of such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; PodcastOne's or Slacker’s ability to list on a national exchange; the Company's ability to continue as a going concern; the Company's ability to attract, maintain and increase the number of its users and paid members; the Company identifying, acquiring, securing and developing content; the Company's intent to repurchase shares of its common stock from time to time under its announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; the Company's ability to maintain compliance with certain financial and other covenants; the Company successfully implementing its growth strategy, including relating to its technology platforms and applications; management's relationships with industry stakeholders; the effects of the global Covid-19 pandemic; uncertain and unfavorable outcomes in legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company's subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 29, 2022, Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2022, filed with the SEC on November 17, 2022, and in the Company's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
** Included in the total number of paid members for the reported periods are certain members which are the subject of a contractual dispute. LiveOne is currently not recognizing revenue related to these members.