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LiveXLive Media (Nasdaq: LIVX) reported record revenue of $38.8 million for Q1 Fiscal 2022, a significant increase from $10.5 million in the previous year. The contribution margin also reached a record $7.8 million, driven by growth in advertising, merchandising, and pay-per-view revenue. However, the company reported an operating loss of $10.0 million and a net loss of $8.1 million. Paid subscribers as of June 30, 2021, were over 1.16 million, reflecting a growth trend. The company raised its fiscal 2022 revenue guidance to $115-$125 million.
LiveXLive Media (NASDAQ: LIVX) has announced an exclusive pay-per-view partnership with Joy Ruckus Club 4 (JRC4), the largest global Asian music festival, scheduled from August 27 to September 5, 2021. The event will feature 250 performers across 14 stages and is anticipated to reach over 75 million social media followers. JRC4 will include K-Pop headliners and a K-Pop SuperFest on August 27 and 28. PPV packages range from $10 to $45. Since May 2020, LiveXLive has generated approximately $16 million in revenue from PPV initiatives, showcasing over 100 events with renowned artists.
LiveXLive Media (NASDAQ: LIVX) announced the launch of Self Made Podcast Edition, an audio competition aimed at discovering new podcasting talent. The competition offers a prize package exceeding $100,000, including a podcasting contract with PodcastOne. Contestants can submit existing or new podcasts through PodcastOne's LaunchpadOne platform until August 3, 2021. Five finalists will get mentorship from industry experts before competing for the ultimate prize, with the winner announced on September 30, 2021, coinciding with International Podcast Day.
LiveXLive Media (NASDAQ: LIVX) announced its ongoing partnership with iHeartMedia to exclusively stream the 2021 iHeartRadio Fiesta Latina on October 16, 2021, from the Amway Center in Orlando, Florida. This year’s concert features renowned Latin artists like Wisin & Yandel, Prince Royce, and J Balvin. Additionally, Luis Fonsi will receive the iHeartRadio Corazón Latino Award for his contributions to the Latin community. Tickets will be available starting August 5, 2021.
LiveXLive Media (NASDAQ: LIVX) is set to announce its financial results for the first quarter ended June 30, 2021, after U.S. markets close on August 12, 2021. The company will host a conference call at 4:30 PM ET to discuss these results. LiveXLive, a platform for livestream and on-demand content in music and entertainment, has raised its revenue guidance for fiscal 2021, citing strong performance in its core business areas. The company engages in multiple monetization strategies across its various services, including subscriptions, advertising, and merchandise.
LiveXLive Media (Nasdaq: LIVX) announced the optioning of When the Music Dies, a docuseries co-produced with Empire Media Group. This series will explore the lives of iconic musicians including Mac Miller and Amy Winehouse, delving into their genius and struggles. The project aims to leverage EMG's extensive investigative reporting and secure licensing for unprecedented content. Following last month’s multi-year partnership with PodcastOne, LiveXLive continues to expand its portfolio in media production, enhancing its position as a leader in livestream and audio content.
LiveXLive Media (NASDAQ: LIVX) announces its continued partnership with iHeartMedia for the 2021 iHeartCountry Festival, taking place on October 30, 2021. The festival features major Country artists like Toby Keith and Blake Shelton, hosted by Bobby Bones at the Frank Erwin Center in Austin, Texas. LiveXLive will stream the event globally, marking the third consecutive year of collaboration. With iHeartCountry reaching over 110 million listeners monthly, this event enhances brand visibility. General ticket sales begin on July 30, 2021, after an exclusive pre-sale for Capital One cardholders starting July 27, 2021.
LiveXLive Media (NASDAQ: LIVX) has announced the daily lineup for its Autumn Equinox edition of the Spring Awakening Music Festival (SAMF), occurring on October 2-3, 2021, at Addams/Medill Park in Chicago, IL. Featuring over 60 artists, including Excision and Martin Garrix, the festival promises new stage concepts and expanded programming. Single-day and limited two-day tickets are now available for purchase. LiveXLive aims to enhance its live event production portfolio through React Presents, acquired in early 2020, advancing its position in the Midwest music scene.
PodcastOne, a subsidiary of LiveXLive Media (NASDAQ: LIVX), has secured exclusive sales and distribution rights for The Fred Minnick Show, a podcast with over 15 million monthly listeners. This deal positions PodcastOne to leverage Fred Minnick's celebrity connections and expertise in spirits. The inaugural episode on July 19 features NFL legends Peyton and Cooper Manning. The show aims to enhance listeners' appreciation of spirits while attracting notable guests from various industries, promising engaging content.
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.
