We are now live. Rob, you can take it from here.
Good morning, everyone, and sorry for the technical issues this morning. Let me open up deck for everybody. Good morning, everyone, and welcome to LiveOne. Exciting time for LiveOne. We have just coming off announcing our first quarter numbers. What you will hear about LiveOne is LiveOne is one of the 10 DSPs that exist out there. When I say DSPs, it is a music subscription platform, very much like Spotify, very much like Apple, very much like Sirius. We are in the ecosystem of a massive market, billions of dollars a market, and you can listen, watch, attend, engage, or transact. As you look at the numbers, we have just recorded record numbers for the quarter, over $19 million and over $6 million of EBITDA.
We expect to continue with that as we have announced $8 million - $10 million of guidance for this year in EBITDA. As we have come off the restructuring of the Tesla deal, we have cut our staff down from 350 people to 80. We have taken out substantial amount of liabilities off the balance sheet, over $5 million just for this quarter. Over $7 million of increased net equity, so increasing the balance sheet dramatically, and we have added $3.3 million of cash. Really exciting time for the company as we continue to. As you look at the space and you look at our competitors, you are looking at market caps that are trading at between around 2.94 x revenues. We are trading at half of revenues. What are we doing about that? We very aggressively have been buying back stock.
We just announced that we bought back over $7 million of stock in LiveOne, and we bought another 150,000 shares of our subsidiary, PodcastOne. We will walk through a little bit of the numbers on PodcastOne, but you could see we are trading at a huge discount to the industry, and it is not that different from in many places where you are seeing the smaller cap companies trade at discounts to the larger caps, but eventually those things start to match up together. Just on PodcastOne alone, we did $16 million for the quarter and $1.6 million of EBITDA. We publicly stated we expect this year to grow from $61 million last year, in substantial EBITDA, to this year to doing over $70 million, $68 million to $75 million in guidance on the podcast business.
All that is starting to come together and the flywheel is starting to come back strongly as we continue to build. As you look at the portfolio of the company, we have a very unique portfolio of live streaming of Slacker Radio. Slacker has been around for almost 20 years. Over $200 million was invested previous to LiveOne acquiring the company. Same thing with PodcastOne. PodcastOne, over $30 million was invested before we acquired the company. We consolidated those, and both of them were doing around $17 million in revenues. Today, we finished last year around $80 million. With $80 million, we have doubled the size of the two of those businesses, 2.5 x the size of it, even with losing those Tesla revenues and we continue to grow.
With that, we built into the flywheel additional revenue streams that will come from the number of talent we have on our platform. The amount of traffic we have will lead to many different revenue streams, starting with subscription, right, which used to be the lead and was the larger part of our revenues, right? Today, our advertising has now surpassed the subscription side, but we fully expect that that subscription side will start to grow again as we continue to land these B2B deals. You get in one company, I think I articulated on the conference call, on the earnings call, right? You got five different potential parts of this business that all have upside of $1 billion or better. In all of my companies, whether it was Digital Turbine, whether it was the THQ or Jakks or LiveOne.com, you've always heard the same flywheel, right?
You've heard a media company is going to trade at a percentage, a number of EBITDA or revenues, right, or earnings, and a media and technology company can trade at a multiple of revenues. So real exciting. Music subscription, as you know, we just showed you, is trading at about 2.9 x. Podcast businesses are, again, for the second round, starting to get acquired very aggressively. Going back five, seven years ago, you saw almost every company getting bought up between 5 and 15 times revenues. That's starting to happen again. Acast just bought another business, Fox has just bought three podcast businesses. OpenAI just paid 13.6 times for a podcast business. So we're starting to see that come back. Our live stream and pay-per-view, we've just announced our first real major venture back into live since COVID, in the boxing world.
As most people know who were shareholders previously, we did over $25 million and $4 million of EBITDA in the boxing world with Social Gloves. Now we have one that is happening over 60 events a year, and this is just starting. It is TBL, the Team Boxing League, and couldn't be more excited about it. Our merchandise business will be fed from our podcasters, from our musicians, from our boxers, we'll all feed that business, and then our publishing side of our business. As you look at the flywheel, what we've always found is the more talent we have, the more the audience is. The bigger the social media, the bigger the audience. As you look at these numbers, they're pretty staggering. 6.6 billion listens, 2,900 artists performed on our platform, 148 live-streamed events, 2,200 hours of live music.
You look at our distribution, it just continues to grow. We've announced deals just in the last six months. We've announced deals with LG. We've announced Vizio, which is Walmart. We have announced AT&T. We announced Samsung, who historically was the biggest customer of Slacker Radio, did $100+ million in revenues, and we've just come back into business with them again, and we continue to grow those. What I've publicly said is that we have just signed a four-year contract with one of the biggest retailers in the world. Retailers are no longer just retailers in the stores, they're now digital retailers, so they have to compete with Amazon.
We are really excited about where that is going. When you think about Amazon Prime and that they have 86 million just music subscribers, let alone well over 100 media subscribers, you see how important, just like end caps were to the retail world, right now content is critical to keeping those people in play. Our growing library of franchises. We have talked a lot about this in the last few calls. We have a massive library of content. Over 250,000 hours of media content, of video. We have over 500,000 hours of audio content and over one billion codes. All of this is just hitting into the flywheel with the opportunity of starting to sell this to AI, including the practice models, which have shown somewhere between $100 to $500 an hour.
They also give us massive distribution to other platforms like we have with Paramount, and like we have with Amazon, and like we have with Spotify and Apple. Together, we now have B2B deals and distribution to over $10 trillion worth of companies. Slacker Radio. Slacker Radio has everything in the U.S. that any of the music services have. We are not yet global, but we are looking at those opportunities where we have over 50 million tracks, over 100 million app downloads, 82 billion listens, 400,000 + hours of our podcast episodes, 500 curated radio stations. Everything those top 10 DSPs have, we have all of the above and growing. Our podcast business. Podcast business has grown from $17 million, losing $5 million when we acquired it. It is now doing $61 million and $1.6 million of EBITDA just for the quarter.
It is on a run rate to do somewhere between $8 million and $10 million this year. We have been top 10 on Podtrac for the last 12 months. We just got ranked last month number 6 in all of podcasts. Our top shows. As you look across the board, Adam Carolla, Jordan Harbinger, Cold Case, great partnership with A&E, another great media company that we partner with, True Crime. You are going to continue to see those added. As we continue to grow those, we have just announced about three months ago, adding Dr. Phil, one of the biggest talking heads in the history of the industry.
Was literally paid over $50 million a year from CBS for years, has now become one of the podcasts that is on our platform, and we see a huge upside and huge potential, not only from him, but also in his true crime, also in his initiatives across the board, including bringing other talent that he has relationships with across the board. As you look at our advertisers, we grew. When we acquired the company, we had about 70 advertisers. We now have well over 500 of the biggest advertisers in the world on our platform. As you see advertising growing, it is becoming very important to Netflix, very important to Amazon. Both partners of ours now. We have just put our first couple of podcasts onto Netflix, and you are seeing those video platform, those streaming platforms, entering the podcast business in a very meaningful way.
In fact, if you look at Netflix, when you turn it on, the first bar you see is podcast, then movies, then television across the board. You are seeing a unique opportunity of those streaming partners that I humbly believe will be buying up an audio platform and podcast platforms across the board. As I articulated earlier, Fox has bought three podcast networks, and I think you are going to see more and more of that happening. You just saw Netflix enter the podcast space with iHeart. They entered it with us, they entered it with Bill Simmons, and you just saw this week, you just saw Disney enter the fray and enter the podcast network. I think Paramount, Peacock, and everybody else will be doing the same. Our pay-per-view events. We have not announced a new pay-per-view event yet this year, but watch closely.
Historically, that has been a large part of our revenues pre-COVID. With our boxing partnership with TBL, I see a massive opportunity that that will expand back into music and other areas and could be a great revenue driver towards the end of the year or into next year. CPS, our Custom Personalization Solutions, has been just a money loser. It has been painful. Unfortunately, we got hit hard when COVID hit. We acquired the company right in the beginning of COVID. We bet that it would last longer. We have been cutting staff there dramatically. We have cut over 100 people. We continue to cut, and we will now take that business down to only being celebrity brands. Those celebrity brands we will be focused on will be focused on the talent that we have across our podcasts, our music, and will give us huge upside with none of the cost structure.
We partnered with a distributor in Chicago who has taken over all the distribution and manufacturing and really simplified the business to where the real money is made, the real revenues, and the real growth will be. As you look at our capabilities, we have all the capabilities of all of these companies in the space, from iHeart to SiriusXM to Spotify to Apple to Amazon, to YouTube. When you think about that and you look at those valuations, the lowest is iHeart at $6 billion, then it goes to SiriusXM at $25 billion, then it goes to $100 billion at Spotify, and then it goes to $1 trillion to each of the others.
We are really the only small-cap music subscription platform left, and that is available out there to distribute, to invest in, or to acquire for any of the streaming partners, any of the media partners, or candidly, anyone that we distribute with that has 10 million to 1+ billion eyeballs, like Facebook. There are a couple of really serious platforms that are all, as AI gets stronger, are infringing on each other's businesses. Microsoft is missing a music platform. Facebook is missing a music platform. Disney is missing a music platform. Netflix is missing a music platform. Every carrier around the globe that historically has had their own music on their platforms is missing one. I think you are going to see continued roll-up of the space and continued opportunity there, and I think that is the reason that iHeart stock has had such a big run.
Stock is up still, it is up 6x, but it was up 12x this year. But still a great run in it, and I think that is mostly because of the opportunities that Sirius was looking at a bid for it, and I think the streaming networks will be doing the same.
Our global distribution just continues to grow. This is the most exciting part of the business. If any of you were shareholders of mine when I did Digital Turbine, it was all built off the backs of distributors just like this, carriers, streaming networks, except for in Digital Turbine, I only had the tech stack. I did not own the content. Here, I have a world-class tech stack with 46 patents. I have a world-class tech team, all came out of San Diego, the Qualcomm world and so on, who have built this and built all these different streaming platforms, audio, video, pay-per-view, all built out and all built by this extraordinary team.
With those 46 patents and growing, all these distributors, and we continue to add more and more distributors literally on a monthly basis, that give us the opportunity to grow this business off by articulating and providing them with content and them providing us with traffic. We spend absolutely $0 marketing. We do not have that $60, $70, $80 ARPU. We cannot afford it, and it is not our style. Our style is to partner with people who need this content and to grow it with their help and with us providing massive content to them. No different than cable and satellite. We provide podcasts and music to platforms that are missing it, and they provide the traffic and the audience. As you look at our team, you got a world-class team. Sue McNamara ran Howard Stern's sales, ran CBS's sales.
Kit Gray comes out of the business forever and literally has ran a division at iHeartMedia, and has started the podcast industry and started that movement in podcasting. Brad Konkol ran Slacker Radio, and built Slacker Radio. As you look at our board, it is a who is who of media and technology who built probably $100 billion worth of media technology companies. Everyone from Steve Bornstein, who built ESPN and the NFL Network. Patrick Wachsberger took up over Lionsgate when the stock was at $6, $7 and went to $48, created $20 billion worth of wealth. Jules Haimovitz started Showtime, ran MTV. Ken Solomon started the Tennis Channel, built it to what it is. We got a world-class team. Very respected in the industry, and very helpful in building out the business. Just to wrap it up, we are huge believers in our own business.
I personally invested over $18 million in the company. The company has just bought back $7 million of stock. We raised money. We raised $10 million at $7.5 only six months ago. We are buying back stock at four, right, $4 and $5. So we are buying it at a huge discount to where we bought it from, and we will continue that buyback, and we will continue it aggressively. Same thing with PodcastOne. We have just put out guidance for the year of $85 million - 90 million, with $8 million - $10 million of EBITDA. We did $6 million of EBITDA in the audio business alone for the first quarter of the year. So really exciting going into the remainder of the year.
We are going to continue to build, continue to grow, and as I articulated earlier, one of the things that I said on my conference call was this is now the most exciting opportunity I have been involved in in my career. So for anyone that knows Digital Turbine, it went as high as $12 billion, still trades at a couple of billion dollars, right? THQs and Jakks Pacific of the world each went to a billion dollars plus. We humbly believe that we have all the assets here, and we also have something very unique. We have a $250 million NOL. The Street, for some reason, is not valuing that at all.
As that EBITDA turns to earnings next year, right, we focus deeper and deeper on the cost savings, on what AI is doing for us, both on the positive side of revenues as well as the ability to cut our costs. We really enter a really exciting next 12 months, and we got a little bit of a fight left for year-end. We got to get to that $10+ million of EBITDA, right? Going into next year, we are really excited about where the direction of the business is going and really getting this back over $100 million and on its way to $250+ million. Thank you, everyone. I appreciate you joining.