Partnership Launches with Distribution and Sponsorship of Second Annual Streaming Music Festival "Music Lives 2021" on Lomotif Platform
LOS ANGELES, March 25, 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 is partnering with popular video sharing and social media global platform Lomotif for global distribution of LiveXLive's content, launching as a global distributor and sponsor of the largest streaming music festival in "Music Lives'', which launched during COVID-19, benefiting MusiCares®. Music Lives will return for the second consecutive year - beginning Friday, March 26, 2021, at 6 pm ET/ 3 pm PT through Sunday, March 28, 2021. World class artists, rising talent, behind the scenes footage and the sale of a limited edition NFT concert poster will highlight the alliance of music and art and reach of Music Lives.
Lomotif is a popular video-sharing social networking platform, and budding rival to TikTok, and Kuaishou. One of the fastest growing video-sharing social networking platforms in its category over the last three years, there are currently 225+ million installations of the Lomotif app globally in 200+ countries in 300+ languages. Over 300 million videos are watched on the platform per month and over 10 billion atomic clips (User Generated Content (UGC)) have been used to create more than 740+ million videos on the platform since its launch. ZASH Global Media and Entertainment Corporation ("ZASH"), have entered into a definitive agreement to acquire a majority controlling interest in Lomotif Private Limited ("Lomotif"), which owns the Lomotif platform. To watch Music Lives 2021 on the Lomotif platform, users can download the app on the Apple Store or Google Play for Android.
The deal is designed to increase the global social media distribution of Music Lives, as well as a partnership for greater visibility of the LiveXLive brand globally. The alliance will engage fans to participate with artists and transact with original content, NFTs, merchandise and more within LiveXLive's flywheel of business- listen, watch, attend, engage and transact- and Lomotif's vast reach around the world of specifically Brazil, Russia and Singapore
Music Lives 2021 will be streamed non-stop for over 72 hours, with over 120 artists from some of today's biggest acts and rising talent from around the world. Leading participants in the festival include: Andra Day, Zac Brown Band, Trace Adkins, 24kGoldn, Justine Skye, Lennon Stella, Jake Owen, G Herbo and Jimmie Allen, John Mayer, Wiz Khalifa, Pitbull, Lil TJay, Nelly, Davido, PRETTYMUCH, and YBN Nahmir, as well as the winner from LiveXLive's newest original show, Self Made.
"We are proud to partner with ZASH and Lomotif as they bring broad marketing and distribution infrastructure to our annual global festival, Music Lives. Lomotif has exceptional global reach, backend tech and a competitive edge in the social video sharing space that makes them an exceptional platform to work with," stated Robert Ellin, CEO and Chairman of LiveXLive.
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.
Forward-Looking Statements (LiveXLive Media)
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.
About Lomotif
Lomotif is the leading video-sharing social networking platform that is democratizing video creation. Since the company was co-founded by video enthusiast Paul Yang in 2014, Lomotif has been granted three technology patents uniquely focused on empowering creators to share and watch short videos with ease through remix and collaboration. Yang's bold vision is to build the world's largest video vocabulary to accelerate the world's transition to video-first expression. Lomotif, available in the Apple and Google stores, is a breakthrough downloadable app for hip hop, rap, and urban culture across the United States and Latin America. Lomotif is one of five partners selected by Snapchat for a bi-directional integration for posting stories between the two platforms. For additional information about Lomotif Private Limited, please visit Lomotif's website at www.lomotif.com.
The closing of the Lomotif acquisition by ZASH is scheduled to occur concurrently with the closing of ZASH's merger and business combination with Vinco Ventures, Inc. ("Vinco"), which was previously announced in a joint press release in January 2021. The closing of the Lomotif acquisition is subject to certain customary conditions to closing as described in the definitive acquisition agreement. Upon completion of the merger between ZASH and Vinco, ZASH will become a public company and controlling shareholder of Vinco, making Lomotif one of the top global, pure play video-sharing social networking platforms to be owned by a US publicly traded company.
About ZASH Global Media and Entertainment Corporation
ZASH Global Media and Entertainment Corporation is an evolving network of synergetic companies working together to disrupt the media and entertainment industry as we know it today. The ZASH team is managed by a group of smart, if not somewhat brazen, consummate disruptors. ZASH believes its management team has an exceptional and unparalleled ability to pivot because their knowledge and experience is steadfast and unyielding. For additional information about ZASH Global Media and Entertainment Corporation, please visit ZASH's website at www.zash.global.
About Vinco Ventures, Inc.
Vinco Ventures, Inc. is a mergers and acquisition company focused on digital commerce and consumer brands. Vinco's B.I.G. (Buy. Innovate. Grow.) strategy will seek out acquisition opportunities that are poised for scale and grow said acquisitions through targeted traffic and content campaigns. For more information, please view Vinco's investor presentation or visit Investors.vincoventures.com.
Forward-Looking Statements and Disclaimers (ZASH)
This press release contains "forward-looking" statements within the meaning of federal securities laws. Forward-looking statements include, among others, statements concerning or implying future financial performance, anticipated product performance and functionality of ZASH's products or products incorporating ZASH's products, and industry trends and growth opportunities affecting ZASH. Such information are based upon beliefs of, and information currently available to, ZASH management as well as estimates and assumptions made by ZASH's management. These statements can be identified by the fact that they do not relate strictly to historic or current facts. When used in this presentation the words "estimate," "expect," intend," believe," plan," "anticipate," "projected" and other words or the negative of these terms and similar expressions as they relate to ZASH or ZASH's management identify forward-looking statements. These forward-looking statements include statements regarding the potential business synergies resulting from ZASH's acquisition of Lomotif and ZASH's proposed merger with Vinco, the potential market for ZASH's and Lomotif's product offerings, customer adoption and use of the Lomotif platform, and the ability of ZASH to monetize product offerings, including the Lomotif platform. Such statements and the other forward-looking statements in this press release reflect the current view of ZASH with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to ZASH and Lomotif's industries, operations and results of operations and any businesses that may be acquired by ZASH. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although ZASH believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, performance, or achievements. All forward-looking statements are qualified in their entirety by this cautionary statement. ZASH is providing this information as of the date of this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events, or otherwise.
Press Contacts:
For LiveXLive
The Rose Group
[email protected]
424.645.4620
[email protected]
614.226.9542
LiveXLive IR Contact:
[email protected]
310.601.2505
For ZASH and Lomotif
Dennis Dembia
[email protected]
R&CPMK
310-709-6193
SOURCE LiveXLive Media, Inc.
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