LOS ANGELES, May 14, 2020 /PRNewswire/ -- LiveXLive Media, Inc. (NASDAQ: LIVX) ("LiveXLive"), a global digital media company focused on live entertainment, announced today its launch into pay-per-view (PPV) live stream performances and events. LiveXLive's Pay-Per-View (PPV) initiative will drive a new revenue-sharing model for both artists and LiveXLive via digital ticket sales, fan tipping, digital meet and greets, merchandise sales and sponsorship, enabling artists to go direct-to-consumer using LiveXLive's PPV platform.
LiveXLive's first pay-per-view event will be the acclaimed virtual concert series 'Live From Out There,' featuring more than 45 live performances starting on Friday, May 15th and continuing for four weeks until June 7th. 'Live From Out There' is produced by full service entertainment group 11E1even Group. Tickets went on sale Wednesday, May 14 and can be purchased via LiveXLive.com/LFOT and LFOT.com.
"We are very much looking forward to working with LiveXLive and the newly added paywall allowing us to bring revenue to artists participating in Live From Out There," said Ben Baruch, Owner of 11E1even Group and co-founder of Live From Out There.
Digital event ticketing for single, multi-day and virtual tours further diversifies LiveXLive's revenue model, adding to current advertising and subscription monetization. LiveXLive's pay-per-view offering will include tour and weekend passes ($39.99 and $19.99, respectively) and an a la carte option for single shows ($4.99).
"The music business is at an important inflection point," said Robert Ellin, the CEO and Chairman of LiveXLive. "Pay-Per-View and digital ticketing have been staples for the broadcast entertainment business for many years. We're excited to be among the first-movers in pay-per-view live stream music events where we see significant revenue potential for both artists and our business."
As part of its PPV offering to artists, LiveXLive will take advantage of its various promotional channels reaching over 820,000 paid subscribers on its app as well as its 835K of followers on social media.
LiveXLive has already streamed over 900 artists and over 200 hours since January 1, 2020 as compared to a total of 300 artists during the entire 2019 calendar year. Its inaugural Music Lives 48-hour global music festival reached over 50 million live streams with an average of 200K concurrent viewers and 4.9 billion video views for #musiclives on TikTok.
LiveXLive, accessible on the web as well as on devices from the car to home, brings music fans the best seat in the house for festivals, concerts and events worldwide, via a curated-by-people audio selection of millions of recorded songs, original programming segments comprised of live performances, podcasts, artist interviews, lifestyle segments, and show pilots. LiveXLive's streams are also available on Amazon, Apple TV, Roku and Samsung TVs. LiveXLive operates a live events business and offers branded entertainment, content development, advertising, merchandising, and live streaming services. For more information about LiveXLive, please visit www.livexlive.com
About LiveXLive Media, Inc.
Headquartered in Los Angeles, California, LiveXLive Media, Inc. (NASDAQ: LIVX) (the "Company") is a global digital media company focused on live entertainment. The Company operates LiveXLive, the first 'live social music network', delivering premium livestreams, digital audio and on-demand music experiences from the world's top music festivals and concerts, including Rock in Rio, EDC Las Vegas, the Montreux Jazz Festival, 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 4.8 billion views for #musiclives on TikTok on 100+ performances. LiveXLive also gives audiences access to premium original content, artist exclusives and industry interviews. For more information, visit www.livexlive.com and follow us 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.