LiveOne Subsidiary Palm Beach Records Achieves Double-Platinum Success
Boutique studio collaborates with Atlantic Records rap artist Kodak Black, hits over 1 billion streams, earns multiple platinum and gold singles
LOS ANGELES–(BUSINESS WIRE)–#AtlanticRecords—Palm Beach Records (“PBR”), a multi-platinum music recording and podcast/vodcast studio and a majority-owned subsidiary of the award-winning, creator-first, music, entertainment and technology platform, LiveOne (Nasdaq: LVO), announced today that PBR has achieved Double-Platinum status for the second time, with Atlantic Records rap artist Kodak Black. The Recording Industry Association of America recently presented Palm Beach Records with the highly coveted Double-Platinum plaque for mixing and engineering Kodak Black’s single “No Flockin’,” which has over 339M Spotify streams to date.
PBR also hit Double-Platinum with over 161 million streams on Kodak Black’s single “Lockjaw.” The studio has engineered a number of singles and mixtapes for the Atlantic Records artist, all having a collective total of over 1 billion streams.
Palm Beach Records’ CEO Christian Ocampo stated, “I’ve worked with Kodak Black since he was 16. It’s gratifying to be on his production team and thrilled for his success.” He adds, “I’m blessed to continue helping great artists and businesses grow more successful here at Palm Beach Records with LiveOne.”
Josh Hallbauer, Head of LiveOne’s Music Publishing Division, said, “Christian is one of the best producers I’ve ever worked with. It made a lot of sense to bring Palm Beach Records into the LiveOne ecosystem where both sides would mutually benefit each other. Christian and his team have already made great strides with producing several LiveOne podcasts, vodcasts and live events. We look forward to having the Palm Beach Records studio create more exciting projects with LiveOne.”
About Palm Beach Records
Located in Boca Raton, Florida, Palm Beach Records is a multi-platinum music recording and podcast/vodcast studio with over 20 years of experience servicing the music and entertainment industry. Services include vocals, voice-overs, mixing & mastering, podcast recording, vodcast recording and more.
Palm Beach Records was founded in 2013 by Christian Ocampo. Ocampo originally started working from a home studio in his mother’s garage before opening the Palm Beach Records studios in Boca Raton. Since then, he has mixed and/or engineered for hundreds of artists, including Zack Bia, Mallory Merk, Josh Cocktail, Kodak Black, Haitian Fresh, Wyatt Ray, Koly P and Boosie Badazz, among many others. He has also sound engineered commercials and voice overs for large corporations such as Nike, Verizon, Netflix and Target.
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 February 9, 2023, the Company has accrued a paid and free ad-supported membership base of approximately 2.8 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, React Presents, 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, YouTube 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 the Company’s 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 December 31, 2022, filed with the SEC on February 14, 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 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 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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