LOS ANGELES, June 1, 2020 /PRNewswire/ -- LiveXLive Media, Inc. (NASDAQ: LIVX) ("LiveXLive"), a global platform for live stream and on-demand audio, video and podcast content in music, comedy, and pop culture, announced that it has achieved triple-digit growth across core metrics, including the numbers of events, artists and hours streamed on its platform. Since January 2020, LiveXLive has streamed 48 events, up 336%*, and over 1,000 artist performances, up 821%*. Its programming has generated more than 66 million live stream views -- an increase of 175% over the same time period last year. Total hours streamed increased by over 179%*. Sponsorship revenues also climbed significantly over the same period last year.
LiveXLive's technology enables artists to simulcast performances to fans worldwide across social media platforms, such as Facebook, Twitch, TikTok and YouTube. Engagements within its social media channels also garnered a triple-digit increase with total engagements up over 109% and average engagements per post saw 128%.
LiveXLive has also added several additional revenue formats, including pay-per-view events, an artist ambassador program, a new video podcast format, tipping, merchandise and virtual gifts. The company is seeing promising trends in those categories as well.
LiveXLive's first pay-per-view offering with 11E1even Group's virtual concert series 'Live From Out There' featuring 45+ pay-per-view live performances from Friday, May 15th and continuing for four weeks until June 7th has sold approximately 7,300 tickets to date. LiveXLive's pay-per-view offering included a tour and weekend passes ($39.99 and $19.99, respectively) and an a la carte option for single shows ($4.99). Sales have eclipsed $148,000 to date, with 18% of all ticket sales from the tour pass and 34% from the Summer Camp Weekend Pass.
Its first video podcast with Adam Carolla for the "ADAM CAROLLA IS UNPREPARED" tour scored a company record-setting 1.1 million live stream views. The format marked the first collaboration with PodcastOne, a leading subscription and advertiser-supported podcast network, which LiveXLive recently announced it anticipates to acquire in June 2020.
The anticipated acquisition is expected to bring a significant opportunity for the two companies to cross-sell and cross-promote subscribers, advertisers, and sponsors, as well as provide their collective artists and on-air talent with one expanded platform to increase their social media and online presence.
"Our team has been aggressive in developing ways for us to collaborate with artists and amplify our strengths in live stream programming," said Robert Ellin, CEO and Chairman of LiveXLive. "This incredible momentum in artist relations, programming and new formats like Pay-Per-View and video podcasts have laid the groundwork for us to now monetize those efforts, especially with the anticipated addition of the sales force of PodcastOne."
LiveXLive has become a go-to platform for live streaming events that combine music with pop culture of podcasting, sports, arts, fashion, culinary, comedy and wellness. From emerging to established artists, LiveXLive has streamed a variety of artists and celebrities since the COVID pandemic including: Kygo, Jimmy Buffett, OneRepublic, Zac Brown, Sofi Tukker, Graham Parker, John Hiatt, John Butler, Michael Franti, Nahko, Trevor Hall, FINK, Mike Love, Rising Appalachia, and Krishna Das, Big Gigantic, Hot Chelle Rae, Lauren Jauregui, Billy Joel, Bon Jovi, Chris Rock, Idina Menzel, Jennifer Lopez, Sullivan King, Quix, Nitti Gritti, Dr. Fresch, Champagne Drip, and Pegboard Nerds.
LiveXLive's new unique offering of audio streaming, podcasts, live streaming, and on-demand video provides artists with an end-to-end music platform for creating, curating, promoting, and distributing content, while gaining valuable data & insights and new monetization opportunities from their social media followers, viewers and performances.
*from the same time period in calendar year 2019; numbers shown are as of May 31, 2020.
About LiveXLive Media, Inc.
Headquartered in Los Angeles, California, LiveXLive Media, Inc. (NASDAQ: LIVX) (the "Company") (pronounced Live "by" Live) is a global platform for live stream and on-demand audio, video and podcast content in music, comedy, and pop culture. LiveXLive, which has streamed over 1000 events in 2020, has become a go-to partner for the world's top artists and celebrity voices as well as music festivals concerts, including Rock in Rio, EDC Las Vegas, and many others. In April 2020, LiveXLive produced its first 48-hour music festival called "Music Lives" with tremendous success as it earned over 50 million views and over 5 billion views for #musiclives on TikTok on 100+ performances. LiveXLive's library of global events, video-audio podcasts and original shows are also available on Amazon, Apple TV, Roku and Samsung TVs in addition to its own app, destination site and social channels. For more information, visit www.livexlive.com and follow LiveXLive on Facebook, Instagram, TikTok, Twitter at @livexlive, and YouTube.
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 the proposed acquisition of PodcastOne and the timing of the closing of the proposed transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed acquisition will not occur; 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 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; 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, 2019, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 24, 2019, Quarterly Report on Form 10-Q for the quarter ended December 31, 2019, filed with the SEC on February 7, 2020, 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.
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SOURCE LiveXLive Media, Inc.