LIVEONE AFFIRMS RECORD REVENUE OF AT LEAST $112 MILLION FOR FY 2022

MARCH 31, 2022 ENDED WITH TOTAL MEMBERS REACHING A RECORD 2.23 MILLION** 1.48 MILLION** TOTAL PAID MEMBERS 750,000 TOTAL FREE MEMBERS LiveOne Maintains Guidance to Achieve Positive Adjusted EBITDA* in Q1 FY 2023 Ending June 30, 2022; Maintains Revenue Guidance for FY 2023 of Between $125 - $140 Million and Adjusted EBITDA* Between $4 Million - $8 Million LiveOne Added a Record of Over 52K New Paid Members in March 2022 Through Conversion From Free Members, Live Events, Merchandise Purchases, Ticket Buyers & Expansion into Connected Vehicles FY 2022 Had Over 300 Sponsors for LiveOne's Content & Events

LiveOne's Spring Awakening Music Festival 10th Anniversary Tickets Presale Sold Out LiveOne's Wholly-Owned PodcastOne Ranked #8 by Podtrac in February 2022 Social Media Engagement Across All LiveOne Platforms Soared Over 154% Tesla Added a Record Number of LiveOne Memberships During Q4 FY 2022 LOS ANGELES, April 5, 2022 /PRNewswire/ -- LiveOne (Nasdaq: LVO), a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced today its largest month of paid membership growth as over 52,000 new paid members were added in March 2022. This record monthly membership growth was driven by the expansion into connected vehicles, conversion of free members from live events, merchandise purchases, ticket buyers and general marketing campaigns. As of April 1, 2022, total membership was a record 2.23 million** of which 1.48 million** were paid memberships.

LiveOne also confirms its guidance to achieve record revenue of at least $112 million for FY 2022 ended March 31, 2022, an anticipated increase of approximately 72% as compared to revenue of $65.2 Million in FY 2021. "With oil prices over $100 a barrel, the world has awakened to how important automated cars have become, and we have seen incredibly strong demand from Tesla and other partners. We expect this strong trend to continue and to deliver another quarter of record new membership adds in the current June quarter," said Robert Ellin, CEO and Chairman of LiveOne. Since April 1, 2021, LiveOne has achieved the following:

• Livestreamed over 631 artists across the entire LiveOne platform
• Streamed over 126 virtual events
• Launched 42 PPVs
• Livestream views reached over 54 million views
• Over 300 sponsors across the LiveOne platform
• 2.48 billion podcast downloads
• Over 250 podcast shows
• Had record growth in social media with 116+ million impressions and over 5.7+ million social engagements
• More than 26 billion total PR impressions

LiveOne has also experienced growth across its original franchises, livestreams, events, podcast/vodcasts, and digital and social traffic metrics in the quarter ended March 31, 2022 as compared to the quarter ended December 31, 2021, including:

• Broadcasted its 75th LiveOne Presents with Rooftop Series: Grammys Edition live from Las Vegas, Nevada
• Spring Awakening 10th Anniversary presale sold out
• PodcastOne ranked #8 on Top Podtrac Publishers in February 2022, up from #12 in 2021; launched five new podcast shows and renewed three existing podcasts bringing total to over 250 podcasts
• Total LiveOne Social Media impressions Increased by 16.5%
• Total LiveOne Social Media engagement Increased by 154.6%"

As part of LiveOne's membership program, LiveOne members will receive exclusive and original content, invitation to artists meet and greets, prizes and points to redeem for concerts, merch discounts, presale ticket offers, PPVs and more through LiveOne's expanding NFT and GamifyOne platforms. LiveOne is the first talent-centric platform focused on superfans and building long-term franchises in on-demand audio and video, podcasting, vodcasting, OTT linear channels, pay-per-view, NFTs, and livestreaming. Its unique model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales, licensing, and ticketing. About LiveOne, Inc. Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) (the "Company") is a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. As of March 1, 2022, the Company has accrued a paid and free membership base of over 2.1 million**, streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, nearly 270 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and created a valuable connection between fans, brands, and bands. The Company's wholly-owned subsidiaries include Slacker Radio, React Presents, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, LiveXLive, PPVOne and PodcastOne, which generates more than 2.48 billion downloads per year and 300+ episodes distributed per week across its stable of top-rated podcasts. LiveOne is available on iOS, Android, Roku, Apple TV, Amazon Fire, and through OTT, STIRR, and XUMO. For more information, visit www.liveone.com and follow us on Facebook, Instagram, TikTok, and Twitter at @liveone. * About Non-GAAP Financial Measures To supplement our consolidated financial statements, which are prepared and presented in accordance with the accounting principles generally accepted in the United States of America ("GAAP"), we present Contribution Margin (Loss) and Adjusted Earnings Before Interest Tax Depreciation and Amortization ("Adjusted EBITDA"), which are non-GAAP financial measures, as measures of our performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, or superior to, operating loss and or net income (loss) or any other performance measures derived in accordance with GAAP or as an alternative to net cash provided by operating activities or any other measures of our cash flows or liquidity. We use Contribution Margin (Loss) and Adjusted EBITDA to evaluate the performance of our operating segment. We believe that information about these non-GAAP financial measures assists investors by allowing them to evaluate changes in the operating results of our business separate from non-operational factors that affect operating income (loss) and net income (loss), thus providing insights into both operations and the other factors that affect reported results. Adjusted EBITDA is not calculated or presented in accordance with GAAP. A limitation of the use of Adjusted EBITDA as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. Accordingly, Adjusted EBITDA should be considered in addition to, and not as a substitute for net income (loss), and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, Adjusted EBITDA as presented herein may not be comparable to similarly titled measures of other companies. Contribution Margin (Loss) is defined as Revenue less Cost of Sales. Adjusted EBITDA is defined as earnings before interest, other (income) expense, income tax expense, depreciation and amortization and before (a) non-cash GAAP purchase accounting adjustments for certain deferred revenue and costs, (b) legal, accounting and other professional fees directly attributable to acquisition activity, (c) employee severance payments and third party professional fees directly attributable to acquisition or corporate realignment activities, (d) certain non-recurring expenses associated with legal settlements or reserves for legal settlements in the period that pertain to historical matters that existed at acquired companies prior to their purchase date and a one-time minimum guarantee to effectively terminate a live events distribution agreement post COVID-19, (e) depreciation and amortization (including goodwill impairment, if any), and (f) certain stock-based compensation expense. Management does not consider these costs to be indicative of our core operating results. With respect to projected 2023 Adjusted EBITDA, a quantitative reconciliation is not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to purchase accounting adjustments, acquisition-related charges and legal settlement reserves excluded from Adjusted EBITDA. We expect that the variability of these items to have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results. Forward-Looking Statements All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the Company's reliance on one key customer for a substantial percentage of its revenue; the Company's ability to consummate any proposed financing, acquisition, spin-out, distribution or transaction, the timing of the closing of such proposed event, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all, or that the closing of any proposed financing, acquisition, spin-out, distribution or transaction will not occur or whether any such event will enhance shareholder value; the Company's ability to continue as a going concern; the Company's ability to attract, maintain and increase the number of its users and paid subscribers; the Company identifying, acquiring, securing and developing content; the Company's intent to repurchase shares of its common stock from time to time under its announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; the Company's ability to maintain compliance with certain financial and other covenants; the Company successfully implementing its growth strategy, including relating to its technology platforms and applications; management's relationships with industry stakeholders; the effects of the global Covid-19 pandemic; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company's subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2021, filed with the U.S. Securities and Exchange Commission (the "SEC") on July 14, 2021, Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the SEC on August 16, 2021, Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2021, filed with the SEC on October 29, 2021, Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2021, filed with the SEC on February 14, 2022, and in the Company's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. ** Included in the total number of paid members for the reported periods are certain members which are the subject of a contractual dispute. LiveOne is currently not recognizing revenue related to these members. Press Contact: LiveOne aileen@liveone.com 917.842.9653 aavidon@liveone.com 516.522.1349 LiveOne IR Contact: IR@liveone.com 310.601.2505

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