LiveXLive And The Associated Press Collaborate For Cutting-edge News Programming

Rhea-AI Summary

LiveXLive Media (NASDAQ: LIVX) has partnered with The Associated Press to integrate comprehensive news content into its platform. This collaboration includes a user-curated 'AP News' station, providing personalized news experiences, and the 'AP Headline News Update,' which offers hourly news breaks during music streams. LiveXLive aims to enhance user engagement as it raises its revenue guidance for the fiscal year, fueled by growth in its core businesses, which include Slacker Radio and PodcastOne.

Positive

• Collaboration with The Associated Press enhances content offering.
• Introduction of personalized 'AP News' station for users.
• Hourly news updates via 'AP Headline News Update' improve user engagement.
• Increased revenue guidance for the 2021 fiscal year due to strong core business performance.

Negative

• None.

LOS ANGELES, July 12, 2021 /PRNewswire/ -- LiveXLive Media (Nasdaq: LIVX) ("LiveXLive"), a global platform for Livestream 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 The Associated Press, the independent global news organization dedicated to factual reporting, is now the primary News/Talk content source across LiveXLive's platform.

LiveXLive owns the Slacker Radio platform, the radio streaming service that operates across its mobile app, web, and TV. Through the collaboration with The Associated Press, LiveXLive offers a user-curated "AP News" station, where listeners can skip, play/pause, and personalize their own unique news/talk experience. 

The relationship between LiveXLive and AP signals a move toward the contemporary cornerstone of entertainment and information, as AP News now fulfills the role ABC News once occupied for LiveXLive.

AP also releases the "AP Headline News Update", a 90-second news break, inserted into the music streams of users who have opted-in to news updates, happening once an hour and providing listeners with the most timely updates of the day. Headlines, National and World news, as well as updates on Politics, Technology, Entertainment, and Sports, will all be included.

"AP has proven itself to be the leading source of global news," says Dermot McCormack, President of LiveXLive. "As LiveXLive continues to push the boundaries of entertainment, we are thrilled to work with AP and excited to provide our users with an all-encompassing and informative streaming experience."

"We are pleased to provide AP's fact-based, unbiased news coverage to LiveXLive listeners," said Michael Fabiano, AP vice president and general manager for Americas media. "This collaboration allows us to be part of innovative digital initiatives that expand the reach of AP's factual journalism." 

LiveXLive has the first talent-centric platform focused on superfans and building long-term franchises in on-demand audio and video, podcasting, vodcasting, OTT linear channels, pay-per-view, NFTs, and livestreaming. Its model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales, licensing, and ticketing across LiveXLive's apps, site, and OTT channels on Amazon, Apple TV, Sling, Roku, and STIRR. LiveXLive recently raised revenue guidance for its 2021 fiscal year based on strength in its core businesses.

For More information, please visit /www.livexlive.com. 

About LiveXLive Media, Inc.
Headquartered in Los Angeles, California, LiveXLive Media, Inc. (NASDAQ: LIVX) (the "Company") (pronounced Live "by ''Live) is a global talent-first, interactive music, sports, and entertainment subscription platform delivering premium content and livestreams from the world's top artists. The Company has streamed over 1,800 artists since January 2020, a library featuring close to 30 million songs, 500 expertly curated radio stations, 235 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, an NFT business, and has created a valuable connection between brands, fans, and bands. LiveXLive Media's other major wholly-owned subsidiaries are LiveXLive, Slacker Radio, React Presents, Custom Personalization Solutions, and PodcastOne, which generates more than 2.27 billion downloads per year 300+ episodes distributed per week across a stable of hundreds of top podcasts. The combination of acquisitions and the expansion of products and franchises have secured LiveXLive as a top-rated music, entertainment and media services company. LiveXLive is available on iOS, Android, Roku, Apple TV, and Amazon Fire, and through OTT, STIRR, Sling, and XUMO, in addition to its app, online website, and social channels. For more information, visit www.livexlive.com and follow us on Facebook, Instagram, TikTok, and 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 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.

Press Contact:
LiveXLive
aileen@livexlive.com 
917.842.9653

LiveXLive IR Contact:
ir@LiveXLive.com
310.601.2505

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SOURCE LiveXLive Media, Inc.

FAQ

What is the partnership between LiveXLive and The Associated Press?

LiveXLive has partnered with The Associated Press to offer personalized news content through a dedicated 'AP News' station, enhancing their platform's offerings.

How will the collaboration with The Associated Press affect LiveXLive's users?

Users will experience personalized news content and receive hourly news updates during music streams, improving overall engagement.

What financial impact does the new partnership have on LiveXLive?

The partnership has led LiveXLive to raise its revenue guidance for the 2021 fiscal year, indicating strong performance in its core business segments.

When was the press release announcing the collaboration published?

The press release was published on July 12, 2021.

What is the stock symbol for LiveXLive?

The stock symbol for LiveXLive is LIVX.