via NewMediaWire – PodcastOne (NASDAQ: PODC), a leading podcast
platform and a subsidiary of LiveOne (NASDAQ: LVO), which owns ~80%
of the PODC outstanding common stock, announced today that its
podcast Varnamtown, hosted by award winning actor Kyle MacLachlan
and investigative journalist Joshua Davis has soared to the top of
Apple podcast charts, ranking 5th overall for new podcasts, top 10
in the highly competitive True Crime category and ranking as high
as top 25 across all podcasts available for download on Apple. With
three episodes currently available for download, new installments
are available weekly on Wednesdays.
MacLachlan (Sex and the City, Twin Peaks) and Davis bring to
life Varnamtown. A limited 8-episode podcast that tells the little
known story of a small fishing village in North Carolina that
reputedly did a deal with drug kingpin Pablo Escobar. In exchange
for allowing Escobar's drug motherships to dock and his airplanes
to land, the town would become rich. For two years, MacLachlan and
Davis investigated the tale, journeying to Varnamtown to knock on
doors and find out what really happens when a firehose of money and
cocaine is turned on a small, tight knit community. Varnamtown is
produced by Epic Magazine, Picture Perfect Federation and Full
Picture.
“PodcastOne is thrilled to congratulate Kyle, Josh and the
entire production team behind Varnamtown. Their dedication to
telling this delightfully quirky tale of misdeeds and greed in
smalltown America is resulting in much deserved attention for the
show from audiences, media and advertisers. The strength of
Varnamtown furthers our momentum in developing original IP for
television and film production,” said Kit Gray, President and
Co-Founder of PodcastOne.
Varnamtown is the first podcast series resulting from a
previously announced development deal between PodcastOne and
Picture Perfect Federation (“PPF”). PPF is a joint venture formed
by entertainment industry leader and Academy Award Winning Patrick
Wachsberger's Picture Perfect Entertainment and Pascal Breton and
Lionel Uzan of studio Federation Studios and led in the US by
Patrick Wachsberger and Ashley Stern, President of Federation
Entertainment of America.
PodcastOne’s full roster of top ranked podcasts includes
programming across top genres such as news, comedy, true crime and
society and culture, including shows such as Bad Bad Thing, True
Crime All The Time Unsolved, The Prosecutors, Court Junkie, Cold
Case Files, I Survived, Baby Mamas No Drama, The Adam Carolla Show,
and The Schaub Show. PodcastOne shows are available through
PodcastOne, Apple Podcasts, Spotify, iHeart, Amazon and wherever
podcasts are heard.
About PodcastOnePodcastOne (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 StatementsAll 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, 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 listeners; PodcastOne
identifying, acquiring, securing and developing content; LiveOne’s
intent to repurchase shares of its and/or 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; 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 September 30, 2023, filed with the
SEC on November 20, 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.
Press Contacts:
For PodcastOne310.246.4600Susan@Guttmanpr.com
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