PodcastOne, Inc.

Ladies and gentlemen, thank you for standing by. My name is Desiree and I will be your conference operator today. At this time, I would like to welcome everyone to the Podcast One Inc. First Quarter Fiscal 2025 Financial Results and Business Update. All lines will be placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, again, press the star one. I would now like to turn the conference over to Aaron Sullivan, Chief Financial Officer. You may begin.

Thank you, and welcome to Podcast One's first quarter fiscal 2025 business update and financial results conference call and webcast. Presenting on today's call are Kit Gray, President of Podcast One, Rob Allen, CEO and Chairman of Live One and Executive Chairman of Podcast One, myself, Aaron Sullivan, CFO of Live One and Podcast One. I'd like to remind you that some of the statements made on today's call are forward-looking and are based on current expectations, forecasts, and assumptions that involve various risks and uncertainties. These statements include, but are not limited to, statements regarding the future performance of the business, including expected future financial results and expected future growth in the business. Actual results may differ materially from those discussed on this call for a variety of reasons. Please refer to Podcast One's filings with the SEC for information about factors which could cause the company's actual results to differ materially from these forward-looking statements, including those described in Podcast One Form 10-K for the year ended March 31, 2024, filed by the company with the SEC on July 1, 2024, and subsequent SEC filings made by the company. You will find reconciliations of non-GAAP financial measures to the most comparable GAAP financial measures discussed today in the company's earnings release, which is posted on its investor relations website. The company encourages you to periodically visit its investor relations website for important content. The following discussion, including responses to your questions, contains time-sensitive information and reflects management's view as of the date of this call, August 13th, 2024. And as required by law, the company does not undertake any obligation to update or revise this information after the date of this call. I'd like to highlight to investors that this call is being recorded. Podcast One is making it available to investors in the media via webcast and replay will be available on Podcast One's IR website in the events section shortly following the conclusion of the call. Additionally, it is the property of the company and any redistribution, retransmission or rebroadcast of the call or the webcast in any form without the company's express written consent is strictly prohibited. I'll spend just a minute providing a very brief overview of our results for the first quarter of fiscal 2025, ended June 30th. Consolidated revenue for the three-month period ended June 30th, 24, was a record $13.2 million, an increase of 24% from the prior year period. Consolidated adjusted EBITDA for the Q1 fiscal 2025 was a loss of $300K, which is primarily driven by the timing of content acquisition costs. The company is debt-free and LiveOne owns approximately 72% of Podcast One. In the month of July 2024, the company had a US unique monthly audience of approximately 5.5 million and global downloads and streams of approximately 17.8 million. Now, I would like to turn the call over to Podcast One's president, Dick Gregg.

Thank you very much, Aaron, and thank you everyone for your time today. I hope you're having a good one. As you can see from Aaron's earlier comments, we've had a very productive and positive quarter at Podcast One. The core of our business is performing very well. We are acquiring sales representation and distribution rights of new shows at a great pace. We are growing our existing programs in terms of audience and monetization and launching some very successful new programs. In the last 12 months, We've added 37 new podcasts, bringing a total of 187 shows. This year alone, our fiscal year, we've added nine new podcasts and sold our second major show to a top five streaming platform, further solidifying our position in podcasting and creating a slate of podcasts primed for TV and film adaptations. Our downloads are 6% higher than they were in fiscal year Q4 2024. Our programmatic advertising continues to lead, and we're 18% higher than it was in fiscal year Q4 2024, allowing us to monetize not only our current consumption of podcasts, but old episodes. So as new people find our shows, they can go back and listen, and we can monetize that consumption. Our hit shows are doing great. I've had it was nominated for two iHeart podcast awards and Baby Mama No Drama won for the second year in a row a Webby. So congrats to those two terrific properties. We value those relationships. And in fact, we have just recently signed them both to extension. We're very excited about this, their corridor, our network and our future. We have new projects in line with them, and it's very exciting. We are also finding and developing new revenue channels for existing partners and company resources and using our company resources that are already existing, which limits costs and has high margins and profitability. As I mentioned earlier, we're using, we're really growing our second window slate of programming for TV and film. But you'll also hear about us in the near future launching Podcast One Pro, which is our production division. that allows our expert producers and our network of 187 shows and millions of downloads on a monthly basis attract companies that want to create their own podcast. We offer our expertise, our credibility, and we help them build their shows. We actually have been doing this for quite some time, but we're ramping this part of our business up over the next six to 12 months. We just got an extended renewal from Motor Trend, their force. We've done deals with Microsoft and one of our leading advertising agencies, Oxford Road. And we just recently signed a deal where the CEO and founder of Lovesac will be doing a podcast to talk about his business and how he grew his business and continues to grow it throughout our network. We're very excited about this new division and putting more resources into that. We are also revamping some of our paywall projects. We have the Adam Carolla Network that just relaunched their strategy, which includes new programming from Jay Moore and Adam Carolla that will be exclusively behind the paywall. We are having a relationship with Apple on the A&E slate and creating commercial free programming and other offerings on the Cold Case Files, I Survived, and their other new hit show, Crime and Investigation. And we're launching a soon-to-be housewives paywall that you guys will learn more about in the next week or two. But that's very exciting and offers really new revenue channels for us with limited work on both the talent and our side. So we're excited about those. As always, our Our focus will be, again, to launch, grow, and acquire the representation of existing podcasts. We have still a very, very strong funnel of shows that we're considering to be a part of Podcast One, and those new programs will be highlighted throughout the next year. We have many bigger deals, too, with some podcasts. eight secret B2B business deals, such as the one we mentioned earlier this year. We have probably four or five of those in the funnel. And this will help us not only with our business operations and growth on that side of things, but acquire new companies and get really on our path to being $100 million company in the next few years. So as you can see, we're really excited about what we're doing at Podcast One. Our core business is growing. We have great new revenue channels, and we're excited about the future. That being said, I'm going to hand it over to our CEO, Rob Allen, and he can take it from here. Thank you.