LOS ANGELES, Oct. 4, 2021
/PRNewswire/ -- LiveXLive Media (NASDAQ: LIVX) ("LiveXLive"),
a global platform for livestream and on-demand audio, video, and
podcast/vodcast content in music, comedy and pop culture, and owner
of PodcastOne, Slacker Radio, React Presents and Custom
Personalization Solutions, announced today that it continues to
trailblaze in the ever evolving live events and live streaming by
combining its three major franchises to achieve growth within
ticket sales, subscriptions, livestreams and exclusive and original
content through StudioOne.
Over this past weekend, LiveXLive took over Chicago with the 70th version of its iconic
LiveXLive Presents original franchise. This event featured
performances by Common, Twista, Mario, Chloe Moriondo, Baynk, KOH, DJ Godfather - a
combined social media following of over 30 million. LiveXLive also
brought back to the city of Chicago the midwest's largest EDM festival,
Spring Awakening Music Festival: Autumn Equinox (SAMF:Autumn
Equinox). Both events offered fans an in-person and virtual
livestream immersive experience.
This year's Spring Awakening Music Festival: Autumn
Equinox was the perfect setting to showcase its new forward
thinking approach to broadcast production through StudioOne.
LiveXLive's ethos is focused on the convergence of live and
digital. This uniquely positions LiveXLive for expected exponential
growth over the next few years as the new normal becomes a seamless
hybrid experience. The new tech stack offers LiveXLive a more
efficient and cost effective approach to live and virtual event
production - cutting back costs by 50%.
LiveXLive's pay-per-view and live event sales over this past
weekend saw over 60,000 tickets sold with more than 25,000 new
LiveXLive subscribers and over 1 million livestreams. LiveXLive
partnered with 131 Entertainment and brought the first-ever solo
pay-per-view performance from K-Pop rapper and star B.I. to the
world, which was trending worldwide on Twitter as number 1
throughout the livestream. B.I.'s PPV also sold out it's virtual
meet-and-greets within seconds of going on sale.
Additionally, LiveXLive's SAMF:Autumn Equinox, which
featured an epic two-day assortment of the biggest names in techno,
dubstep and house, offered fans a distant in-person and livestream
experience. LiveXLive, as an industry leader in livestreaming
technology, leveraged its full range of expertise to continuously
propel the digital and physical festival realm to new heights. The
fully immersive behind-the-scenes experience kept interest and
intrigue in the midst of a weather hold.
Since it announced PPV and digital touring in May 2020, LiveXLive has generated approximately
$21.5 million in PPV packages,
sponsorships, and merchandise sales in the current calendar year.
LiveXLive produced over 100 PPV events with talent like Social
Gloves: Battle of the Platforms featuring Lil Baby, Migos, DJ
Khaled and Latto, Trace Adkins,
Darius Rucker, and Modern Drummer
Festival. Plus Dispatch, Ripe, Mihali, Chromeo, James Petralli, Twiddle, Ani DiFranco's Long Time Gone, and
nationally-known festival Live From Out There. LiveXLive's PPV
initiative drives a new revenue-sharing model for both artists and
LiveXLive via digital ticket sales, fan tipping, digital meet and
greets, merchandise sales,and sponsorship, enabling artists to go
direct-to-consumer using LiveXLive's PPV platform.
About LiveXLive Media, Inc.
Headquartered in
Los Angeles, California, LiveXLive
Media, Inc. (NASDAQ: LIVX) (the "Company") (pronounced Live
"by ''Live) is a global talent-first, 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, a library featuring close to 30 million songs, 500
expertly curated radio stations, 235 podcasts/vodcasts, hundreds of
pay-per-views, personalized merchandise, an NFT business, and has
created a valuable connection between brands, fans, and bands. The
Company's other major wholly-owned subsidiaries are LiveXLive,
Slacker Radio, React Presents, Custom Personalization Solutions,
and PodcastOne, which generates more than 2.27 billion 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 LiveXLive as a
top-rated music, entertainment, and media services company.
LiveXLive is available on iOS, Android, Roku, Apple TV, and Amazon
Fire, and through OTT, STIRR, Sling, and XUMO, in addition to its
app, online website, and social channels. For more information,
visit www.livexlive.com and follow us on Facebook, Instagram,
TikTok, and Twitter at @livexlive.
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-off, 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-off, 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, 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.
Press Contact:
LiveXLive
Aileen Budow
aileen@livexlive.com
917.842.9653
Aaron Avidon
aavidon@livexlive.com
516.522.1349
LiveXLive IR Contact:
ir@LiveXLive.com
310.601.2505
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SOURCE LiveXLive Media, Inc.