Streaming concert service LiveXLive acquired PodcastOne in May of last year. In its Q2 earnings report, LiveXLive CEO and Chairman Rob Ellin evangelized the acquisition: “LiveXLive expects the acquisition to be accretive, strengthen its balance sheet and diversify its business model with a significant advertising component.”
In its Q2 earnings call, Ellin again cited the potential growth capacity of PodcastOne — “The acquisition of PodcastOne in July continues to be meaningful and accretive.” He cited a handful of metrics:
- PodcastOne served 2.38-billion downloads in the 12-month period ending June 30.
- The podcast company owns and operates 235 exclusive shows.
- PodcastOne produced over 300 episodes per week.
Ellin referred to PodcastOne’s content business as being part of “a flywheel of wholly owned businesses that work together in a complementary and synergistic fashion.”
The earnings report was for the business as a whole, of course, and these are the key financials:
- Revenue increased 69% (to $28.8-million)
- Thirteen consecutive quarter of record revenue
- 175% increase in contribution margin to $7.8-million
- Full-year guidance increased to between $115-million and $125-million.
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