LiveXLive And Source Digital Partner To Drive Transactions And Subscriber Engagement Through Interactive Content Experiences

Rhea-AI Summary

LiveXLive Media, Inc. (NASDAQ: LIVX) has announced a multi-year partnership with Source Digital to enhance live stream performances with advanced contextual commerce and advertising. This innovative collaboration aims to deliver richer viewer experiences and increase advertising revenue by offering interactive content during live events. CEO Robert Ellin emphasized the deal's potential for expanding advertising inventory and enhancing brand engagement. This agreement marks a significant step towards diversifying revenue sources for LiveXLive, which has been a key player in live streaming, showcasing over 11,100 artists in 2020.

Positive

• Partnership with Source Digital expected to enhance advertising revenue through innovative interactive content.
• Expansion of advertising inventory, which could lead to increased digital ad sales.
• LiveXLive's established platform and diverse content offerings position it favorably in the market.

Negative

• None.

LOS ANGELES, July 7, 2020 /PRNewswire/ -- LiveXLive Media, Inc. (NASDAQ: LIVX) ("LiveXLive"), a global platform for live stream and on-demand audio, video and podcast content in music, comedy, and pop culture, announced today that it has entered into a multi-year deal with Source Digital to bring cutting edge contextual commerce and advertising strategies to market during live stream performances. The companies will create industry-first experiences typically only previously available through Google, allowing viewers access to a richer, more personalized level of information about each performance at any moment of the content.

"We're focused on generating revenue and diversifying our revenue sources. The addition of Source Digital technology to our live streams significantly increases our advertising inventory and digital ad sales opportunity," said Robert Ellin, Chairman and CEO of LiveXLive. "These deals are also excellent for building brand awareness and loyalty across our platforms."

LiveXLive already operates a 24/7 linear channel on its own platform and streams artist interviews, concerts, festivals, ancillary event-related content and short-form video content from around the world. The digital technology innovation from Source focuses on activating engagement and acquisition on any video across any device for time-driven, micro-measurable interactions and increased monetization, and an all-round better viewer experience. Through this unique intersection of fandom and information, brands and commerce entities will gain a truly organic and contextual level of relevance to the end-user.

"We couldn't be more excited about our recent partnership with the LiveXLive team as a means of bringing high-dollar value, video-first strategies back to the forefront of marketing." said Source Digital co-founder and CEO Hank Frecon.

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 11100 artists in 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 #musiclives 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. For more information, visit www.livexlive.com and follow LiveXLive on -1%26h%3D1258280452%26u%3Dhttps%253A%252F%252Fbit.ly%252Flivexlive-fb%26a%3DFacebook&a=Facebook" rel="nofollow">Facebook, -1%26h%3D165905277%26u%3Dhttp%253A%252F%252Fbit.ly%252Flivexlive-ig%26a%3DInstagram&a=Instagram" rel="nofollow">Instagram, TikTok, -1%26h%3D3287494368%26u%3Dhttps%253A%252F%252Fbit.ly%252Flivexlive-tw%26a%3DTwitter&a=Twitter" rel="nofollow">Twitter at @livexlive, and -1%26h%3D1850915586%26u%3Dhttps%253A%252F%252Fbit.ly%252Flivexlive-yt%26a%3DYouTube&a=YouTube" rel="nofollow">YouTube.

About Source Digital, Inc.
Source Digital is the new era of advertising, offering the first in video contextually driven advertising and commerce experience platform that allows digital content creators, owners, brands, and retailers to seamlessly engage frictionlessly with viewers in video content across any device or screen. A brand safe and immersive approach to interactive video, Source Digital's patented technology monetizes viewers through real-time engagement. Their next-generation technology enhances viewer experiences by giving them more information at their fingertips, leading to in-video consumer attribution and purchasing processes that continuously engage while delivering substantially increased revenue for both content owners and brands. Now, Fortune 500 companies and small businesses alike can fully leverage organically driven sales funnels by introducing opportunities for brand engagement or product purchase at just the right moment in a user's journey, all while micro-measuring data, reducing audience drift, and building brand loyalty.

Forward Looking Statement:
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 or acquisitions and the timing of the closing of such proposed transactions, 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 or 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, 2020, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 26, 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.

Press Contact:
Factory PR
212.941.9394
live@factorypr.com

LiveXLive IR Contact:
310.529.2500
ir@livexlive.com

 

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SOURCE LiveXLive Media, Inc.

FAQ

What is the recent partnership announced by LiveXLive (LIVX)?

LiveXLive has entered a multi-year partnership with Source Digital to enhance live stream performances with advanced contextual commerce and advertising strategies.

How will the partnership with Source Digital benefit LiveXLive (LIVX)?

The partnership is expected to increase advertising inventory and digital ad sales opportunities, providing viewers with richer, more personalized content experiences.

When was the partnership between LiveXLive and Source Digital announced?

The partnership was announced on July 7, 2020.

What is LiveXLive’s main business focus?

LiveXLive focuses on providing live stream and on-demand audio, video, and podcast content across music, comedy, and pop culture.