LiveXLive Announces A Record 55K Quarterly Increase In Paid Subscribers To A Total Record 932K, Pay-Per-View Revenue Generates $1.35 Million, Drives Record Sponsorship Deals And Reports Additional Key 2020 Year-To-Date Operational Metrics

Rhea-AI Summary

LiveXLive Media (NASDAQ: LIVX) reported significant growth in its latest operational metrics for 2020. The company gained a record 55,000 paid subscribers this quarter, totaling 932,000, and an increase of 157,000 over the past year. Pay-Per-View ticket sales exceeded $1.35 million from over 50,000 tickets sold. Engagement on social media improved significantly, and the company secured record sponsorship deals with Fortune 1000 companies. Forward-looking statements indicate a strong outlook as the company raises its revenue guidance for the coming fiscal year.

Positive

• Paid subscribers increased by 55K to a record total of 932K.
• Pay-Per-View ticket sales generated over $1.35 million.
• Social media engagements increased by 63% with a 122% rise in average engagements per post.
• Record sponsorship deals secured with multiple Fortune 1000 companies.
• Raised revenue guidance for the 2021 fiscal year.

Negative

• None.

LOS ANGELES, Oct. 1, 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, announced today select year-to-date operational metrics as follows:

• Paid subscribers increased a record 55K in the quarter ended September 30, 2020, to a new record high of 932K. Paid subscribers increased 157K in the past 12 months.
  
• Over 50K Pay-Per-View ("PPV") tickets sold in 121 countries since LiveXLive's launch of PPV events in May, at an average ticket price of approximately $27, generating more than $1.35 million in ticket sales to date in 2020.
  
• Over the past six months, LiveXLive livestreamed 74 events featuring 1,351 artists generating content which has been viewed over 83 million times, as compared to 19 events featuring 198 artists generating content which was viewed over 49 million times for the same period a year ago.
  
• LiveXLive's database of unique users reaches 38 million while its distribution network now reaches over 300 million people annually, including Amazon Fire, Roku, Apple TV, Samsung Smart TVs, Xumo, ReachTV, Consumable TV and other distribution partners.
  
• Engagements within LiveXLive's social media channels garnered a double digit increase with total engagements up over 63% and average engagements per post up 122%.
  
• Growing subscribers and viewership drive record sponsorship deals with Fortune 1000 companies, including Pepsi, Corona, Hyundai, Mike's Hard Lemonade, Mentos Pure Fresh Gum, obé Fitness – and through LiveXLive's multi-year livestream partnership with iHeartRadio - Progressive Insurance, Capital One, Ally Financial, Goya, Country Crock, St. Jude and OGX.
  
• LiveXLive's owned content franchises, LiveZone, MusicLives ON and LiveXLive Presents, earned over 9.3 million views with over 144 artists over the last 6 months.
  
• PodcastOne's franchise of exclusive shows has grown to 234, while the total social media reach across the exclusive talent roster of PodcastOne exceeds 261 million.
  
• During COVID-19, LiveXLive has supported over 17 charities, including MusiCares, Global Citizen, St. Jude Children's Research Hospital, Camp Southern Ground, Robin Hood Relief Benefit, Brain Tumor Research at Cedars-Sinai, Project C.U.R.E., Sister Hearts Re-entry Program, and the Center for Life Without Parole Studies.
  
• LiveXLive's's employee headcount has grown to 117 from 78 one year ago.

LiveXLive's CEO and Chairman, Robert Ellin, commented, "Our operating performance and consumer reach are showing impressive growth across virtually all meaningful performance metrics. We continue to drive compelling original content through our franchises, including pay-per-view events, across both LiveXLive and PodcastOne. Our opportunity is expanding to monetize our content multiple times and in multiple ways across numerous platforms including carriers, automobiles, and OTT."

LiveXLive has the first talent-centric platform focused on superfans and building long-term franchises in audio music, video on-demand, podcasting, OTT linear channels, PPV, and livestreaming. Its model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales and ticketing. LiveXLive recently raised its revenue guidance for its 2021 fiscal year based on strength in its core businesses.

LiveXLive has become a go-to platform for live streaming events that combine music with pop culture of podcasting, sports, arts, fashion, culinary and comedy. So far in calendar year 2020, LiveXLive's content has been viewed over 89 million times. From emerging to established artists, LiveXLive has streamed a variety of artists and celebrities in 2020 alone, including Billie Eilish, Kygo, Billy Joel, Bon Jovi, Chris Rock, Idina Menzel, Jennifer Lopez, Jimmy Buffett, OneRepublic, Zac Brown, Sofi Tukker, and Darius Rucker. Future scheduled PPV events include top artists such as Pitbull, Nelly, Jeremih and many more.

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 livestream and on-demand audio, video and podcast content in music, comedy, and pop culture. LiveXLive, which has streamed over 1200 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 #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. The Company's wholly-owned subsidiary, PodcastOne, generates more than 2.8 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, and YouTube.

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 or acquisition and the timing of the closing of such 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 any proposed transaction will not occur; 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 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 June 30, 2020, filed with the SEC on August 14, 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:

For LiveXLive: The Rose Group
LivexLivePR@therosegrp.com 

LiveXLive IR Contact:
310.529.2500
ir@livexlive.com

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SOURCE LiveXLive Media, Inc.

FAQ

What are the key operational metrics reported by LiveXLive for 2020?

LiveXLive reported a record increase of 55,000 paid subscribers, totaling 932,000, and generated over $1.35 million from Pay-Per-View ticket sales.

How has LiveXLive's subscriber count changed in the last year?

LiveXLive's paid subscribers increased by 157,000 in the past 12 months.

What financial guidance has LiveXLive provided for the fiscal year 2021?

LiveXLive raised its revenue guidance for the fiscal year 2021 based on strong performance metrics.

What is the impact of LiveXLive's social media performance?

The company saw a 63% increase in total engagements, with average engagements per post rising by 122%.

Which companies have sponsored LiveXLive events?

Sponsorship deals include Fortune 1000 companies like Pepsi, Hyundai, and Progressive Insurance.