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LiveXLive Media (NASDAQ: LIVX) has announced reaching over 1 million paid subscribers on its platform, marking a significant milestone for the company. The growth was highlighted by record traffic across various digital metrics, including over 1,800 livestreamed artists and 2 billion audio listens since January 2020. Noteworthy achievements include 2.2 billion podcast downloads and partnerships with major national advertisers. CEO Robert Ellin emphasized the potential for increased revenue through diversified offerings.
LiveXLive Media (NASDAQ: LIVX) has successfully acquired Custom Personalization Solutions (CPS) in an all-stock deal valued at approximately $12 million. This strategic acquisition aims to diversify LiveXLive's portfolio into the global licensed merchandise market, projected to reach $400 billion by 2023. The deal is expected to enhance shareholder equity and add to earnings, bolstered by an estimated $5.2 million in working capital. CPS will operate as a wholly owned subsidiary, focusing on personalized merchandise for superfans, leveraging LiveXLive's extensive audience and industry relationships.
LiveXLive Media (Nasdaq: LIVX) has engaged J.P. Morgan as its financial advisor to explore strategic transactions aimed at business growth. CEO Robert Ellin highlighted impressive growth in operating performance and consumer reach, emphasizing new original content and revenue opportunities across various platforms. LiveXLive has streamed over 1,800 artists since January 2020 and aims to enhance shareholder value through potential acquisitions and partnerships. However, no specific transaction outcomes are assured.
LiveXLive Media (LIVX) has entered into a two-year joint venture with Audio Up Media, focusing on exclusive distribution and advertising sales of existing podcasts and co-ownership of new projects. Revenue generated will be shared evenly. LiveXLive will also have opportunities to develop these podcasts into film, television properties, and artist album releases. The partnership aims to tap into the growing podcast market and leverage Audio Up’s unique content creation capabilities. LiveXLive continues to seek innovative ways to enhance its platform and audience engagement.
LiveXLive Media (NASDAQ: LIVX) announced an exclusive streaming event for the 2021 iHeartRadio ALTer EGO, taking place on January 28, 2021, at 9 PM ET. This event, part of LiveXLive's multi-year partnership with iHeartMedia (NASDAQ: IHRT), will feature performances by major Alternative Rock artists like Billie Eilish and the Foo Fighters. LiveXLive has gained significant traction in 2020, achieving over 110 million views globally, enhancing its presence in the live-streaming landscape.
LiveXLive Media (NASDAQ: LIVX) has announced the launch of nine new non-scripted original series scheduled for the 2020-2021 season. The company aims to enhance its platform amidst growing streaming demand, investing $5 million in its original content. The initiatives are supported by 23 new sponsors including big brands like Pepsi and Chipotle. LiveXLive has seen significant viewership, with nearly 50 million views for franchise series in 2020. The announcement includes plans to renew existing anchor franchises that have also gained considerable audience engagement.
LiveXLive Media (NASDAQ: LIVX) hosted its inaugural "Lockdown Awards" on December 11, 2020, attracting over 10 million livestream views. Sponsored by Hyundai, the event showcased fan interaction with 1 million active participants and generated over 1 billion media impressions. The awards featured categories such as Favorite Quarantine Song, won by Charlie Puth, and DJ D-Nice received the MVP Award for Innovation. LiveXLive emphasized its commitment to original content production, aiming for growth with over 110 million streams year-to-date. CEO Robert Ellin highlighted the platform's expanding influence in the entertainment industry.
LiveXLive Media (NASDAQ: LIVX) hosted its inaugural "Lockdown Awards" on December 11, 2020, celebrating top moments in music and entertainment during quarantine. The event, sponsored by Hyundai, garnered nearly 2 million fan votes across various categories. Key winners include Charlie Puth for "Favorite Quarantine Song" and BTS for "Favorite Quaranteam." LiveXLive reported over 100 million livestreams in 2020, underscoring its growth amid the pandemic. Hosted by Trey Songz, the awards highlighted the creativity of artists and fans during challenging times.
LiveXLive Media (Nasdaq: LIVX) has authorized a stock repurchase program for up to two million shares of its outstanding common stock. CEO Robert Ellin expressed confidence that the current stock price does not reflect the company's true value, emphasizing a commitment to maximize shareholder value. The purchases will depend on factors such as share price and market conditions. LiveXLive's revenue guidance for fiscal 2021 has been raised, indicating strength in core business areas. The company focuses on livestreaming and podcast content, leveraging multiple monetization strategies.
On December 9, 2020, LiveXLive Media (NASDAQ: LIVX) announced Hyundai as the exclusive sponsor for its inaugural The Lockdown Awards, set for December 11, 2020. The partnership aims to honor significant contributions during the pandemic, featuring the renowned DJ D-Nice. The event will be promoted on YouTube, potentially reaching 2 billion viewers. Hyundai's involvement includes advertising opportunities, marking its first sponsorship in LiveXLive shows. The platform has streamed over 1,500 artists in 2020, enhancing its position in the digital entertainment sector.
