LiveXLive, Grey Space Group and Grade-A Announce "The Crew League Season One"- A First-of-Its-Kind Basketball Battle of Hip-Hop Stars and Their Entourages
LiveXLive Media (NASDAQ: LIVX) launched "The Crew League," a unique livestream celebrity basketball tournament, in collaboration with Grade A Productions and Grey Space Group. Scheduled for October 16-18, 2020, in Los Angeles, the event features 8 teams comprised of hip hop artists and their crews, competing for a $100,000 prize, with half going to charities. Confirmed participants include Justin Combs, The Kid LAROI, and Lil Durk. LiveXLive aims to integrate livestreaming, audio, and original content throughout the tournament, which will also be followed by an episodic series and a podcast.
- Launch of a unique streaming event could attract significant viewership and advertising revenue.
- Collaboration with popular hip-hop artists expands the platform's reach and appeal.
- Potential for additional revenue through pay-per-view sales for the Semi-Finals and Finals.
- Reliance on celebrity participation introduces risks if any key artists withdraw.
- Potentially high production costs may impact profitability.
LOS ANGELES, Sept. 17, 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, in association with Grade A Productions and Brand Incubator Grey Space Group, announced today the launch of "The Crew League", a first-of-its-kind, livestream celebrity basketball tournament.
The events, hosted by The Faze Clan members, Justin Combs, 24kGoldn (and many more), will be an 8-team 4-on-4 basketball bracket-style tournament featuring the music industry's hottest young hip hop stars and their entourages. The group also announced The Kid LAROI, Lil Mosey, Lil Durk, Polo G, DDG, G Herbo, Trippie Redd and Team YSL are confirmed, with many additional special guests to be revealed in the coming weeks, including special livestream performances pre-game and during half-time breaks! Collectively, the participating hip-hop artists reach over 100 million fans worldwide across social media. Each team will be captained by one artist who will recruit a "crew" team consisting of managers, best friends, fellow performers, and more. The Crew League will also host many different celebrity sideline commentators, with additional influential broadcasters to be announced.
Taking place on October 16-18, 2020 in Los Angeles, CA, the event will kick off on the 16th with free-to-watch bracket-style games broadcasted live on The Crew League's exclusive landing page on LiveXLive. Crew Teams will face-off for bragging rights and a grand prize of
"We want to showcase the music talent while also generating awareness and story lines about the "Crew" members. These "Crew" members help elevate the artists and their personal brands at all times (from the assistant, manager, best friend, lawyer, etc.). Our hope is to give music fans a closer look behind the scenes of their favorite artists and the competitive spirit of the teams that help elevate the artist in every aspect of their career," added Elie Maroun, The Crew League Co-Founder & Commissioner & Co-Founder Of Grey Space Group
"We can't imagine a more entertaining combination of hip-hop music and smash mouth basketball. Get ready to see these talented artists and their entourages compete to be crowned champion of the first season of The Crew League," said Peter Jideonwo, The Crew League Co-Founder & Deputy Commissioner.
Following the live event, Season One of "The Crew League" live tournament will be released as an episodic series along with a companion audio game-play-mic experience and podcast.
"These are the kinds of events we get really excited about -- it activates the full range of our business -- from livestreaming and audio to original IP development and pay-per-view, with industry-leading talent and for a good cause. From subscription to advertising to transactional viewing, The Crew League presents a spectacular franchise format for us," said Dermot McCormack, president of LiveXLive. "And we're amped up to do this with Grade A, Grey Space Group, and these incredible performers."
The event will be produced in partnership with The Grey Space Group and Grade A. Grade A is a label and management company with its finger on the pulse of popular culture in all aspects of business. Grade A represents the likes of The Juice WRLD estate, The Kid LAROI, Trippie Redd, Polo G & many more. The Grey Space Group is a brand incubator that works with Fortune 500 brands to growth companies in the consumer space. Grey Space Group is uniquely positioned at the intersection of pop-culture and the venture ecosystem. Grey Space Group focuses on strategically adding value from the ground up, by pairing their expertise and robust celebrity talent relationships, Grey Space Group has built a world class portfolio of brands.
LiveXLive has powered global pay-per-view and live stream hits with some of the world's most renowned talent including Monsta X, Darius Rucker, Kygo, Jimmy Buffett, OneRepublic, Zac Brown, Sofi Tukker, Darius Rucker, Graham Parker, John Hiatt, John Butler, Michael Franti, Nahko, Trevor Hall, FINK, Mike Love, Rising Appalachia, Krishna Das, Big Gigantic, Hot Chelle Rae, Lauren Jauregui, Billy Joel, Bon Jovi, Chris Rock, Idina Menzel, Jennifer Lopez, Sullivan King, Quix, Nitti Gritti, Dr. Fresch, Champagne Drip, and Pegboard Nerds.
LiveXLive's platform provides an end-to-end solution for artists and bands to go direct to consumer, monetize performances and digital touring, as well as sell merch and reach new audiences across LiveXLive's apps, site and OTT channels on Amazon, Apple TV, Roku and Samsung TVs. So far in calendar year 2020, LiveXLive's content has been viewed over 81 million times.
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 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 2.1 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, 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 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 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:
The Rose Group
Lynda@therosegrp.com
Isabela@Therosegrp.com
LiveXLive IR Contact:
310.529.2500
ir@livexlive.com
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SOURCE LiveXLive Media, Inc.
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