LiveOne Gamifies Publishing Division, Splitmind, Expands Into $347 Billion Gaming Market by Producing Feature Song “Man Down” for EA Sports’™ Madden NFL 24

- New Track “Man Down” by Canadian singer/songwriter ARDN Featured on Video Game Soundtrack of 36 Platinum Hitmakers, Including Jack Harlow, Wiz Khalifa, Armani White, Marshmello, GRAMMY®-nominee Chika and Kimbra

- ARDN Joins Elite List of Artists that Splitmind Has Worked with Including Drake, Chris Brown, DaBaby and Kodak Black

- ARDN Commands Over 22 Million Music Streams and Over 10 Million TikTok Views

- Madden Average Yearly Sales Estimated at $600 Million and Over $4 Billion in Total Sales**

LOS ANGELES, CA, Aug. 08, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment and technology platform, announced today that its majority-owned subsidiary, Splitmind, well-known for producing beats and sounds for major artists such as Drake, Chris Brown, Kodak Black, NBA Youngboy, DaBaby and several others, is now making waves in the gaming world. The highly anticipated Madden NFL 24 video game, set to launch by EA Sports™ on August 18, 2023, will feature the Splitmind-produced track "Man Down" by Canadian rap sensation ARDN.

WATCH “MAN DOWN” OFFICIAL VIDEO

In a groundbreaking achievement, this collaboration marks Splitmind's entry into the booming gaming market, valued at an astonishing $347 billion in 2022. (Source: Statista)

Founder of Splitmind, known as "Halfway" Crotinger, shared his excitement about this landmark accomplishment, stating, "Our unwavering commitment to empowering artists and safeguarding their musical legacies aligns perfectly with our venture into the gaming industry. Being a part of the Madden NFL 24 soundtrack is a monumental milestone that propels producers' careers to new heights." Crotinger further elaborated, "The gaming world offers an immense platform for artists to shine, and we are dedicated to exploring every avenue that propels our artists towards enduring success."

The Madden NFL 24 soundtrack is now available for streaming on Apple Music.

**Source: TheFootballUSA.com

About Splitmind

Founded by Aidan “Halfway” Crotinger in 2020, Splitmind is a Los Angeles-based music collective of producers and writers from all over the world, including Grammy-winning, multi-platinum producer Jakik. Splitmind’s catalog includes 40,000 copyrights and 2 billion streams. Splitmind provides an infrastructure that allows creatives to share sounds while retaining their royalties - paving the path to give producers long-term ownership of their copyrights. Splitmind is a majority-owned subsidiary of LiveOne (NASDAQ: LVO) and was acquired by LiveOne in 2023.

About ARDN

Canadian raised, Burundi-born singer/songwriter ARDN emerged into the hip-hop space in 2018. Paving his own lane, ARDN captivates his audience through storytelling and his melodic flow. As a first generation immigrant, ARDN creates music that clearly draws parallels to his experiences. Taking inspiration from the likes of J. Cole, Smino, and Anderson .Paak, ARDN is a student of his craft. He keeps authenticity at the core of his artistry and creates music that resonates with those who have been counted out. With consistent releases, ARDN is already finding his core fans quickly. After a snippet of "Til The Morning'' took TikTok by storm, ARDN has millions of listeners tuning in to hear what he's working on next. With supporters around the world, ARDN is surely making his own space in the next generation of hip hop artists.

About Madden NFL

Madden NFL (known as John Madden Football until 1993) is an American football sports video game series developed by EA Tiburon for EA Sports. The franchise, named after Pro Football Hall of Fame coach and commentator John Madden, has sold more than 130 million copies as of 2018. Since 2004, it has been the only officially licensed National Football League (NFL) video game series, and has influenced many players and coaches of the physical sport. Among the series' features are detailed playbooks and player statistics and voice commentary in the style of a real NFL television broadcast. As of 2013 the franchise has generated over $4 billion in sales, making it one of the most profitable video game franchises on the market.

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's wholly-owned subsidiaries include Slacker Radio, a membership music streaming service, and PodcastOne, which generates more than 2.3 billion downloads per year, 350+ hours distributed weekly, and 14M+ monthly unique listeners. Nearly all new Tesla EVs sold in the U.S. come with a paid membership to LiveOne’s Slacker Radio (that now includes PodcastOne) which is paid by Tesla. As of June 26, 2023, the Company has accrued a paid and free ad-supported membership base of approximately 3.1 million, including over 2.2 million paid members*. 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 February 9, 2023, the Company has 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 other wholly-owned subsidiaries include PPVOne, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, and LiveXLive, and the Company’s other majority-owned subsidiaries are Drumify and Splitmind. 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, YouTube and Twitter at @liveone.

Forward-Looking Statements

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, merger, distribution or transaction, including the proposed special dividend and spin-out of PodcastOne (the “Spin-Out”) and the Company’s pay-per-view business and the proposed merger of Slacker with Roth CH Acquisition V Co. (the “Proposed Business Combination”), the timing of the consummation of any such proposed event, including the risks that a condition to the consummation of any such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, merger, 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, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 29, 2023, 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 obligation 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.

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This communication does not constitute a proxy statement or solicitation of a proxy, consent, vote or authorization with respect to any securities or in respect of the Spin-Out or the Proposed Business Combination and shall not constitute an offer to sell or exchange, or a solicitation of an offer to buy or exchange any securities, nor shall there be any sale, issuance or transfer of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

LiveOne IR Contact:
Kirin Smith
PCG Advisory
(646) 823-8656
ksmith@pcgadvisory.com

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LiveOne
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