LiveOne (NASDAQ: LVO) announced a partnership with LG Electronics to distribute its content platform on LG smart TVs across North America. The agreement adds approximately 60 million smart TVs to LiveOne's distribution network.

LG ships between 6 million and 8 million TVs annually, according to the company's press release statement. The partnership targets the connected TV market, where about 50% of consumers stream audio through smart TVs.

"Partnering with LG represents another major step forward in LiveOne's strategy to scale our B2B distribution and accelerate our presence in the connected TV ecosystem," said Robert Ellin, Chairman and CEO of LiveOne.

The music and entertainment platform company's existing B2B distribution includes partnerships with Amazon, Apple, DAX, Paramount, Samsung, Spotify, Telly, Tesla, TextNow, VIZIO, and YouTube.

U.S. connected TV advertising spending is projected to reach $38 billion in 2026, the company stated. LiveOne operates through subsidiaries including Slacker, PodcastOne (NASDAQ: PODC), PPVOne, and others.

The Los Angeles-based company provides music, entertainment and technology services through memberships and live events. Its platform is available on multiple devices including iOS, Android, Roku, Apple TV, Samsung, and Amazon Fire.