LOS ANGELES, Dec. 29, 2020 /PRNewswire/ -- LiveXLive Media (Nasdaq: LIVX) ("LiveXLive"), a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, and owner of PodcastOne, Slacker Radio, React Presents and Custom Personalization Solutions ("CPS"), announced today that it has surpassed over 1 million paid subscribers for its LiveXLive streaming platform.
LiveXLive has experienced record growth across nearly all of its digital traffic metrics including premium pay-per-view virtual concerts, expert curated radio stations, video on-demand, podcasting/vodcasting, as well as VIP fan experiences, all of which have been a hallmark of LiveXLive's original and exclusive content offerings.
Since January of 2020:
Livestreamed over 1,800 artists across the entire LiveXLive music platform
LiveXLive's 24-hour linear OTT streaming channel now reaches over 300 million people
Over 2 billion audio listens
PodcastOne - 2.2 billion downloads and 32 new podcasts
23 new national brand advertisers and sponsors, including Pepsi, McDonald's, KFC, Hyundai, Corona, Porsche, Chipotle, State Farm, and Kia
Robert Ellin, CEO and Chairman of LiveXLive, commented, "Reaching one million paid subscribers is an enormous milestone for LiveXLive. Together with record numbers of livestream views, audio listens, and podcast downloads, our growing digital traffic presents a significant opportunity to grow revenue through our flywheel model – including subscription, advertising, sponsorship, pay-per-view tickets, and merchandise."
With the recent acquisition of CPS, LiveXLive plans to partner with artists and talent to exclusively own and distribute unique proprietary products to be marketed during livestream events and podcasts/vodcasts.
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: Pitbull, Billy Joel, Wiz Khalifa, Bon Jovi, Chris Rock, Jennifer Lopez, Jimmy Buffett, Kygo, OneRepublic, Sofi Tukker, Wonho and the Zac Brown Band.
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 1,800 artists since January 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 #music lives 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. The Company's wholly-owned subsidiary, PodcastOne, generates more than 2.1 billion downloads annually across more than 300 podcasts. For more information, visit www.livexlive.com and follow us on Facebook, Instagram, TikTok, 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 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 the 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 September 30, 2020, filed with the SEC on November 16, 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.