BEVERLY HILLS, Calif., May 15, 2017 /PRNewswire/ -- Loton, Corp's (OTC: LIVX) subsidiary LiveXLive Tickets, a part of Loton's LiveXLive worldwide premium live music video streaming network ("LiveXLive"), today announced that it has acquired all of the operating assets of Wantickets, a branded leading online nightlife, electronic dance music and event marketing and ticketing company. The acquisition greatly expands LiveXLive's pool of festivals, and venues, and will allow the company to expand the reach of its content by utilizing Wantickets' large database of ticket buyers, which will help launch its monetization engine, including pay per view, on demand and most importantly, a subscription model. As we believe that two-thirds of consumers are more likely to purchase a ticket to a live music show after watching a live stream of that artist, the synergies created by this acquisition will provide a powerful new revenue stream for the company while promoting sales across the industry.
LiveXLive's acquisition of Wantickets will provide substantial cost savings in consolidating our technology, finance, marketing and sales teams. With the addition of Wantickets' assets, LiveXLive will also expand its capabilities to deliver a completely integrated and immersive experience to consumers. It will allow them to watch the best live content in the world while simultaneously fulfilling all of their social interaction and incremental e-commerce needs--such as ticketing, fan club memberships, VIP experiences, or travel packages--without ever leaving the live viewing experience. Additionally, LiveXLive will leverage the combined data from these transactions to promote live stream experiences for their favorite artists.
"This acquisition is hopefully the first of many and moves LiveXLive closer and closer to delivering the most unique user experience for consumers globally, providing them the ability to simultaneously interact and transact, all while enjoying the best live music in the world," said Rob Ellin, President and Chairman of Loton and LiveXLive. "By adding a company with key expertise in reaching our music-loving audience, coupled with our skill in producing both live and original content experiences, we are growing closer to realizing our vision of becoming the singular destination for the enjoyment of music programming."
As part of the acquisition, Joe Schnaier, Wantickets' President and Chief Executive Officer, and Richard Blakeley, Wantickets' Chief Financial Officer, joined LiveXLive Tickets as its CEO and CFO, respectively. "We are thrilled to join the LiveXLive family and believe that our combined approach presents a unique and highly compelling value proposition for both the music industry and for fans who love to see events in person or stream them on the go," said Schnaier.
Known as an industry innovator in areas including mobile ticketing, point of sale box office systems, data analysis and social media marketing, Wantickets has been delivering digital tickets since 2001. Wantickets has served over 1000 venues, including many of the major nightclub groups in Las Vegas, focused on the popular dance, electronic music and DJ scene. Venues include the nation's top nightclubs, including Marquee Las Vegas, The Hakkasan Group (including Omnia, 1Oak, Light), Ora Nightclub, E11even Miami, Caesar's Entertainment and the Hard Rock Hotel. It also handles major music festivals including Miami Music Week, Exodus, Freestyle, Summer Breeze and top food events around the nation. Wantickets has sold over 5 million tickets to almost 3 million unique customers. Its consumer base consists of customers with a proven history of attending music events and interest in following artists and trends.
Wantickets is the first acquisition of several others the company will look to make on its way to becoming the singular destination for the enjoyment of live music programming. Since launching in May 2015, LiveXLive has broadcast performances from the leading music festivals and venues including artists such as Rihanna, Katy Perry, Metallica, Duran Duran, Radiohead, Chance The Rapper, Bruce Springsteen, Major Lazer, Maroon 5 and others.
About Loton, Corp and LiveXLive, Corp
LiveXLive, Corp ("LiveXLive"), a wholly owned subsidiary of Loton, Corp ("Loton") is one of the world's only premium internet networks devoted to live music and music-related video content. Since LiveXLive's launch in 2015, LiveXLive has been building an online destination for music fans to enjoy premium live performances from music venues and leading music festivals around the world, such as Rock in Rio and Outside Lands Music and Arts Festival, as well as premium original content, artist exclusives and industry interviews. The LiveXLive platform has featured performances and content from some of the most popular artists in various music genres, including Rihanna, Katy Perry, Metallica, Duran Duran, Radiohead, Chance The Rapper, Bruce Springsteen, Major Lazer and Maroon 5. For more information, visit our website at www.livexlive.com and follow us on Facebook, Instagram and Twitter at @livexlive.
About Wantickets RDM, LLC
Wantickets RDM, LLC ("Wantickets") is a branded leading online nightlife, electronic dance music and event ticketing company with extensive marketing and branding capabilities. Its focus is to connect fans with the best tickets to events and venues across North America. Wantickets focuses on Nightlife destinations, sporting events and leading festivals that collectively reach more than 250 million consumers. Its leading customers include The Light Group, The Hakkasan Group, SBE Entertainment, Caesars Entertainment, and Hard Rock Hotel.
Forward Looking Statement
All statements other than statements of historical facts contained in this press release are "forward-looking statements." 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. These factors include uncertainties as to identifying, acquiring, securing and developing content, ability to attract and retain users, successfully implementing the company's growth strategy, including relating to its technology platform, management's relationships with industry stakeholders, changes in economic conditions, competition, and other risks including those described from time to time in Loton's filings with the SEC. These forward-looking statements speak only as of the date hereof and Loton and LiveXLive disclaim any obligations to update these statements except as may be required by law.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/livexlive-acquires-wantickets-expanding-reach-to-millions-of-engaged-live-music-fans-300457691.html