Podcast network, PodcastOne will post record revenues of around $25 million for the first 9 months of fiscal 2023 (ending December 31, 2022) according to its NASDAQ-listed parent company, LiveOne.
The record-breaking period for PodcastOne comes as LiveOne plans to spin-off PodcastOne as a seperate company that will also be publicly listed on either the NASDAQ or New York Stock Exchange.
In June 2022, LiveOne raised $8.1 million for the ongoing development of PodcastOne. At the time the capital raise valued the PodcastOne business at around $60 million.
It’s expected the spin-off will be completed in early 2023.
The PodcastOne network boasts more than 300 podcasts and over 14 million monthly unique listeners. It’s proprietary internal content management system allows creators and producers to track metrics about shows on an episode-by-episode basis. The system is the platform where podcast episodes are uploaded, RSS feeds are created and distributed to listening platforms, and the listening data is analyzed and displayed in a dashboard for the creators/producers to see.
PodcastOne also operates LaunchpadOne, a platform for start-up podcasts.
The platform’s technology, promotion and monetization features allow podcast creators to leverage unique opportunities from the wider PodcastOne, such as the ability to accumulate new listeners, get discovered, and collaborate with the established podcast network.
