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LiveOne Acquires South Florida Hip-Hop Studio Palm Beach Records
Wednesday 24 November 2021

US-based livestream and on-demand audio, video, and podcast/vodcast content platform LiveOne (NASDAQ: LVO) has completed the acquisition of Palm Beach Records, the company said.

As part of the deal, LiveOne also plans to expand the studio's music operations and launch a full-service podcast recording studio.

LiveOne will use the studio to break and sign new music and podcast talent, broaden its publishing, management and recording divisions, offer exclusive content to drive new LiveOne members and use the studio for franchises and South Florida-based events - where it continues to bolster its operations and events.

Palm Beach Records will operate as a stand-alone wholly-owned subsidiary of LiveOne.

The acquisition is to be immediately accretive to LiveOne's earnings and strengthen LiveOne's balance sheet, the company said.

Palm Beach Records is home to South Florida hip-hop talent.

The studio, founded by Christian "Rekstarr'' Ocampo, is where Kodak Black started out and recorded his first three mixtapes.

Ocampo was an early and frequent collaborator with Kodak Black and Sniper Gang and was part of their hit songs including his debut hit single "No Flockin'."

Ocampo will continue to lead all operations for the studio and brings a stellar roster of talent, including Kodak Black, Supreme Patty, Haitian Fresh, Lil Boosie, Jack Boy, 21 Savage, Koly P, Soldier Kid, C Glizzy, Wyatt Ray, Patrick Peterson, Tyrann Mathieu, Sniper Gang, Scrilla, Mmg, Kat Dahlia, Mallory Merk, Jay Dirty, Sarah Gibson and Cxdy.

Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) is a global interactive music, sports, and entertainment subscription platform delivering premium content and livestreams from the world's top artists.

The company has streamed over 1,800 artists since January 2020, has a library featuring close to 30m songs, 500 expertly curated radio stations, 235 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and has created a valuable connection between brands, fans, and bands.

The company's other major wholly-owned subsidiaries are LiveXLive, PPVOne, Slacker Radio, React Presents, Gramophone Media, Custom Personalization Solutions, Palm Beach Records and PodcastOne which generates more than 2.48bn downloads per year and 300+ episodes distributed per week across a stable of hundreds of top podcasts.

The combination of acquisitions and the expansion of products and franchises have secured LiveOne as a top-rated music, entertainment, and media services company.
Date Published: 24/11/2021