LiveXLive Scores Record-Breaking Weekend Combining Its Three Major Franchises: Spring Awakening Music Festival, LiveXLive Presents And Global Pay-Per-View With B.I

Rhea-AI Summary

LiveXLive Media (NASDAQ: LIVX) announced significant growth in ticket sales, subscriptions, and livestreams, following a successful event in Chicago. The company reported over 60,000 tickets sold, 25,000 new subscribers, and 1 million livestream views. Their latest event featured K-Pop star B.I., trending worldwide, and highlighted LiveXLive's innovative approach to livestreaming through StudioOne, reducing production costs by 50%. Since May 2020, LiveXLive has generated approximately $21.5 million from pay-per-view offerings. With a focus on hybrid experiences, LiveXLive aims for exponential growth in the streaming sector.

Positive

• Achieved over 60,000 ticket sales during the recent event.
• Gained more than 25,000 new subscribers in a single weekend.
• Generated $21.5 million in pay-per-view revenues since May 2020.
• Reduced production costs by 50% through new technology.
• Introduced a successful pay-per-view performance by K-Pop star B.I.

Negative

• None.

LOS ANGELES, Oct. 4, 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 it continues to trailblaze in the ever evolving live events and live streaming by combining its three major franchises to achieve growth within ticket sales, subscriptions, livestreams and exclusive and original content through StudioOne.

Over this past weekend, LiveXLive took over Chicago with the 70th version of its iconic LiveXLive Presents original franchise. This event featured performances by Common, Twista, Mario, Chloe Moriondo, Baynk, KOH, DJ Godfather - a combined social media following of over 30 million. LiveXLive also brought back to the city of Chicago the midwest's largest EDM festival, Spring Awakening Music Festival: Autumn Equinox (SAMF:Autumn Equinox). Both events offered fans an in-person and virtual livestream immersive experience.

This year's Spring Awakening Music Festival: Autumn Equinox was the perfect setting to showcase its new forward thinking approach to broadcast production through StudioOne.  LiveXLive's ethos is focused on the convergence of live and digital. This uniquely positions LiveXLive for expected exponential growth over the next few years as the new normal becomes a seamless hybrid experience. The new tech stack offers LiveXLive a more efficient and cost effective approach to live and virtual event production - cutting back costs by 50%. 

LiveXLive's pay-per-view and live event sales over this past weekend saw over 60,000 tickets sold with more than 25,000 new LiveXLive subscribers and over 1 million livestreams. LiveXLive partnered with 131 Entertainment and brought the first-ever solo pay-per-view performance from K-Pop rapper and star B.I. to the world, which was trending worldwide on Twitter as number 1 throughout the livestream. B.I.'s PPV also sold out it's virtual meet-and-greets within seconds of going on sale. Additionally,  LiveXLive's SAMF:Autumn Equinox, which featured an epic two-day assortment of the biggest names in techno, dubstep and house, offered fans a distant in-person and livestream experience. LiveXLive, as an industry leader in livestreaming technology, leveraged its full range of expertise to continuously propel the digital and physical festival realm to new heights. The fully immersive behind-the-scenes experience kept interest and intrigue in the midst of a weather hold.

Since it announced PPV and digital touring in May 2020, LiveXLive has generated approximately $21.5 million in PPV packages, sponsorships, and merchandise sales in the current calendar year. LiveXLive produced over 100 PPV events with talent like Social Gloves: Battle of the Platforms featuring Lil Baby, Migos, DJ Khaled and Latto, Trace Adkins, Darius Rucker, and Modern Drummer Festival. Plus Dispatch, Ripe, Mihali, Chromeo, James Petralli, Twiddle, Ani DiFranco's Long Time Gone, and nationally-known festival Live From Out There. LiveXLive's PPV initiative drives 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.

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. The Company'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 and 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, spin-off, distribution 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, spin-off, distribution 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, 2021, filed with the U.S. Securities and Exchange Commission (the "SEC") on July 14, 2021, Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the SEC on August 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 Budow
aileen@livexlive.com 
917.842.9653
Aaron Avidon
aavidon@livexlive.com
516.522.1349

LiveXLive IR Contact:
ir@LiveXLive.com
310.601.2505

 

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SOURCE LiveXLive Media, Inc.

FAQ

What were LiveXLive's ticket sales during the recent Chicago event?

LiveXLive sold over 60,000 tickets during the recent Chicago event.

How many new subscribers did LiveXLive acquire in one weekend?

LiveXLive gained more than 25,000 new subscribers in a single weekend.

What is the revenue generated by LiveXLive since May 2020?

LiveXLive has generated approximately $21.5 million from pay-per-view packages since May 2020.

How much did LiveXLive reduce its production costs by?

LiveXLive reduced its production costs by 50% through its new technology.

What notable performance did LiveXLive feature recently?

LiveXLive featured the first-ever solo pay-per-view performance by K-Pop star B.I.