PodcastOne (PODC) Acquires Exclusive Rights to Lost In Panama Podcast Including IP for TV/ Film
– Acquisition Includes Season 1 of Lost In Panama, Downloaded Over 2 Million Times
– Company Expects Acquisition, Paid in Stock, to be Immediately Accretive to Revenues & EBITDA
– Documentary Series in Development
– 19 New Shows Added this Year
LOS ANGELES, CA, Nov. 15, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – PodcastOne (NASDAQ: PODC), a leading podcast platform and a subsidiary of LiveOne (NASDAQ: LVO), announced today that it acquired the exclusive sales and distribution rights, as well as certain ownership and IP/derivative rights, to a top true crime podcast, Lost In Panama. Named a “Top 10 True Crime Podcast” by Mashable, Lost In Panama launched in 2022 and was the 22nd largest new podcast across all genres during that year.
Lost In Panama season 1 told the story of two Dutch friends Lisanne Froon and Kris Kremers who disappeared in 2014 while hiking on a jungle trail in Panama. Two months later, investigators found their remains, as well as a backpack with a digital camera filled with photos that hinted at a darker story. What happened to Kris and Lisanne? In this investigative series, journalists Mariana Atencio and Jeremy Kryt retrace the last steps of the doomed women. Their search for the truth immerses them in eight years’ worth of conflicting evidence, testimonies, and rumors, as on-the-ground witnesses in Panama come forward for the first time. This explosive new evidence sets off a real-time race to reopen the case and finally get justice for Kris and Lisanne.
The anthology series, returning in May 2024, will continue to explore complex missing persons cases where initial appearances deceive and there is more going on than meets the eye.
“We continue our stated strategy of rolling up the fragmented podcast industry to deliver the best podcast library with the lowest cost per acquisition. We are excited and look forward to more announcements in the near future,” said Kit Gray, President and Co-Founder of PodcastOne.
PodcastOne’s full roster of top ranked podcasts includes programming across top genres such as news, comedy, true crime and society and culture and including shows such as The Opportunist, Vigilante, True Crime All The Time Unsolved, The Prosecutors, Court Junkie, Cold Case Files, I Survived, Baby Mamas No Drama, The Adam Carolla Podcast, and The Schaub Show. PodcastOne shows are available through PodcastOne, Apple Podcasts, Spotify, iHeart, Amazon and wherever podcasts are heard.
About PodcastOne
PodcastOne (Nasdaq: PODC) is a Los Angeles based podcast network founded in 2012 by Kit Gray and Norm Pattiz providing creators and advertisers with a full 360-degree solution in sales, marketing, public relations, production, and distribution delivering over 2.1 billion downloads per year with a community of 250 of the top podcasters, including Adam Carolla, Kaitlyn Bristowe, Jordan Harbinger, LadyGang, and A&E’s Cold Case Files. PodcastOne has built a distribution network reaching over 1 billion listeners a month across all of its own properties, LiveOne (Nasdaq: LVO), Spotify, Apple Podcasts, iHeartRadio, Samsung and over 150 shows exclusively available in Tesla vehicles. PodcastOne is also the parent company of LaunchpadOne, an innovative self-serve platform developed to launch, host, distribute and monetize independent user-generated podcasts. For more information, visit podcastone.com and follow us on Facebook, Instagram, YouTube and Twitter at @podcastone.
About LiveOne, Inc.
Headquartered in Los Angeles, CA, LiveOne (Nasdaq: LVO) 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, PodcastOne (Nasdaq: PODC), PPVOne, Gramophone Media, Palm Beach Records, CPS, LiveXLive, Drumify and Splitmind. LiveOne is available on iOS, Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV, and through STIRR’s OTT applications. 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: LiveOne’s reliance on one key customer for a substantial percentage of its revenue; LiveOne’s and PodcastOne’s ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, including LiveOne’s pay-per-view business, 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 ability to continue as a going concern; PodcastOne’s ability to attract, maintain and increase the number of its users and paid members; PodcastOne identifying, acquiring, securing and developing content; LiveOne’s intent to repurchase shares of its and PodcastOne’s common stock from time to time under LiveOne’s announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; PodcastOne’s ability to maintain compliance with certain financial and other covenants; PodcastOne 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 PodcastOne’s subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in PodcastOne’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, Quarterly Report on Form 10-Q for the quarter year ended June 30, 2023, filed with the SEC on August 15, 2023, and in PodcastOne’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and PodcastOne disclaims any obligation to update these statements, except as may be required by law. PodcastOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
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