LiveOne (Nasdaq: LVO) Subsidiary Drumify Launches Subscription Marketplace Integrating Cyanite.ai Tech Stack
- Drumify has produced multiple Grammy-winning and multi-platinum records for many artists, including Drake, NBA YoungBoy, $UICIDEBOY$, Lecrae and Anuel AA
- Marketplace expected to result in conversion of ~70% of current producers working with Drumify into LiveOne subscribers, increasing LiveOne ARPU
- Marketplace provides creators with a wider catalog of IP and opportunities for ownership
- Cyanite AI algorithms tailor search results based on habitual behavior for each creator, matching them with relevant beats and sounds
LOS ANGELES, CA, April 02, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Drumify, a subsidiary of LiveOne (NASDAQ: LVO), announced today that it launched its subscription model, Drumify 3.0. The subscription model is designed to convert ~70% of Drumify’s customer base into recurring subscribers, increasing customer lifetime value and overall revenue. By offering a range of tiered subscriptions, Drumify aims to lower the barrier of entry into professional music production, democratizing access to high-quality sounds and tools previously reserved for established industry professionals.
“We have been working around the clock on our subscription platform for over a year to not just compete with Splice, but help educate creatives on copyright ownership and building long-term wealth. We’re so excited to finally put it out into the world, and the response so far has been overwhelming,” said Aidan Crotinger, Founder of Drumify.
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 subsidiaries include Slacker Radio, PodcastOne (Nasdaq: PODC), PPVOne, Gramophone Media, Palm Beach Records, CPS, LiveXLive, DayOne Music Publishing, 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. For more investor information, please visit ir.liveone.com.
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