Mon, Jul 1, 8:43 PM (112 days ago)
PodcastOne, Inc.'s annual report for the fiscal year ended March 31, 2024, highlights its strategic focus on growth and diversification within the podcasting industry. The company reported revenue of $43.3 million, a 25% increase from $34.6 million the previous year. However, it also faced challenges, including a decrease in podcast downloads due to changes in Apple's iOS and the departure of non-revenue generating partner networks. Net losses were $14.7 million, up from $7.0 million in 2023. Key growth strategies include launching new podcasts, acquiring existing ones, and investing in advertising products. The company also completed a spin-out from LiveOne, becoming a standalone publicly traded entity on NASDAQ. Risk factors include competition, reliance on key talent, and economic conditions affecting advertising spending.