LiveOne, Inc. (Nasdaq:LVO) has announced a five-year partnership between its Slacker Radio subsidiary and Groove Technology Solutions. The arrangement will bring a customised LiveOne music application to Groove’s TotalVue entertainment platform, with a focus on senior living communities.
#Custom music application for TotalVue
Under the announced agreement, Slacker Radio has developed a dedicated application for TotalVue. The service will use Slacker’s music programming, curation and personalisation capabilities to provide residents with listening options based on their individual preferences.
The platform is also designed to support shared music experiences within communities. The announcement describes these features as intended to encourage engagement and connections among residents, although it does not provide financial terms or a deployment target for the partnership.
#Groove’s property technology platform
Groove describes TotalVue as a commercial entertainment platform that brings live television and customised property content together in one service. The company serves thousands of properties nationwide across senior living, hospitality, multifamily and other commercial markets.
Salt Lake City, Utah-headquartered Groove Technology Solutions provides integrated property technology services that include managed television, Wi-Fi and phone services, smart building systems, access control and security, and related infrastructure.
#Senior housing market context
LiveOne said the U.S. senior housing sector includes approximately 3 million beds across more than 40,000 properties. The company presented this market as an opportunity for technology focused on resident entertainment and engagement.
The five-year agreement establishes a framework for the two companies to deploy and expand the Slacker Radio experience across the TotalVue footprint. The announcement does not state the partnership’s expected revenue, profit contribution or subscriber impact.
#LiveOne and Slacker Radio
LiveOne describes itself as a music, entertainment and technology platform. Its Slacker Radio service combines millions of songs, hundreds of curated stations, and proprietary programming and personalisation technology.
Brad Konkol of LiveOne’s Slacker Radio business said the companies had combined Slacker’s programming and personalisation capabilities with TotalVue to create listening experiences for senior communities. Lance Platt, President and CEO of Groove Technology Solutions, said the partnership would add music programming and personalisation to the company’s property technology offering.
#Risks and forward-looking statements
LiveOne said forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied. The risks identified include reliance on its largest OEM customer for a substantial percentage of revenue; the ability to complete proposed financing, acquisition, spin-out, special dividend, merger, distribution or other transactions; the company’s ability to continue as a going concern; and efforts to attract, retain and increase subscribers and paid users.
The company also cited risks involving content acquisition and development, its digital asset treasury strategy, share repurchases, financial and other debt covenants, implementation of its growth strategy, relationships with industry stakeholders, repayment of indebtedness, and conditions related to additional convertible debentures financing.
Other risks listed by LiveOne include legal proceedings, digital asset and regulatory matters, economic conditions, competition, commercial and technical uncertainty, and risks affecting its subsidiaries. The company also referred to additional risk disclosures in its filings with the U.S. Securities and Exchange Commission.
#Key Takeaways
- LiveOne has announced a five-year partnership between Slacker Radio and Groove Technology Solutions.
- Slacker Radio has built a customised LiveOne application for Groove’s TotalVue platform.
- The service is designed to provide personalised and shared music experiences in senior living communities.
- The announcement cites approximately 3 million beds across more than 40,000 U.S. senior housing properties.
- The agreement provides a framework for deployment and expansion across Groove’s TotalVue footprint, with no financial contribution disclosed.
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