LOS ANGELES, March 26, 2021 /PRNewswire/ -- LiveXLive Media (Nasdaq: LIVX) ("LiveXLive"), a global platform for live-stream 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 will launch NFTs (non-fungible tokens) and digital art content division that will focus solely on the creation, production, promotion, and selling of NFTs as part of LiveXLive's robust multi-faceted businesses that encompass original video content, pay-per-views, mega events, podcasting and vodcasting, merchandise and audio businesses.
LiveXLive plans to collaborate with artists to create, promote and sell NFTs in the form of music, merchandise, photographs, tickets, posters and experiences. This is another avenue that LiveXLive has created to provide multiple revenue streams benefiting artists. Launching with 100 limited edition of the first ever NFT festival poster for Music Lives, LiveXLive's annual virtual music festival.
NFTs, or non-fungible tokens, are a type of digital asset where ownership is recorded on a digital ledger blockchain. Each NFT is unique and can be viewed as a collectible that cannot be duplicated, making them singular and potentially valuable. NFTs can represent digital files, such as art, audio, videos, posters, album art and other forms of creative work.
"There is potentially significant value in building a dedicated business to support these new forms of digital assets from both a monetization and promotional perspective. Our events across music, pop-culture, gaming, pay-per-view, podcasting/vodcasting and audio align perfectly with the value proposition NFTs represent to superfans and collectors across the world," stated Robert Ellin, Chairman and CEO of LiveXLive.
LiveXLive's platform offers livestream concerts, festivals, music news, docu-reality series and interviews, as well as on-demand audio and audio playlists and vodcasts/podcasts. LiveXLive has powered global pay-per-view and livestream hits with some of the world's most renowned talent, including Billie Eilish, Billy Joel, Blake Shelton, BTS, Camila Cabello, Dua Lipa, Harry Styles, J Balvin, Jennifer Lopez, Kacey Musgraves, Kygo, Madonna, MonstaX, Paul McCartney, Pitbull, Taylor Swift, Wiz Khalifa, and Yungblud.
LiveXLive's live-stream PPV initiative was created as a revenue-share model to support artists during a time when concerts and touring are at a standstill. LiveXLive's PPV platform allows artists to go direct-to-consumer and perform full-length concerts and shows with unique behind-the-scenes footage, docu-reality-style coverage coupled with premium tiered pricing with tickets that include VIP experiences, exclusive merchandise, digital meet-and-greets, and other event-exclusive perks.
About LiveXLive Media, Inc.
Headquartered in Los Angeles, California, LiveXLive Media, Inc. (NASDAQ: LIVX) (the "Company") (pronounced Live "by" Live) is a leading global all-in-one streaming artist-first platform delivering premium music and entertainment content and live-streams from the world's top artists, expertly curated streaming radio stations, podcasts, and original video and audio-on-demand content, as well as personalized merchandise, connecting artists to millions of fans every day. The Company has streamed over 1,800 artists since January 2020 and has created a valuable connection between bands, fans, and brands by building long-term franchises in audio, video, podcasting, pay-per-view (PPV), live-streaming, and specialty merchandise. LiveXLive is available on iOS, Android, Roku, Apple TV, and Amazon Fire, and through OTT, Samsung TV, STIRR, Sling, and XUMO, in addition to its own app, online website, and social channels. The Company's wholly-owned subsidiary PodcastOne, generates more than 2.25 billion downloads per year with 400+ episodes distributed per week across a stable of hundreds of top podcasts. The Company's other major wholly-owned subsidiaries are LiveXLive, Slacker Radio, React Presents, and Custom Personalization Solutions. For more information, visit www.livexlive.com and follow us on Facebook, Instagram, TikTok, and Twitter at @livexlive.
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 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 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, 2020, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 26, 2020, Quarterly Report on Form 10-Q for the quarter ended December 31, 2020, filed with the SEC on February 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.
SOURCE LiveXLive Media, Inc.