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LiveXLive Media (Nasdaq: LIVX) announced a new two-year $7 Million secured revolving credit facility with an interest rate at the Prime Rate plus 0.5%. This facility enhances the company's liquidity to over $22 Million and is expected to support its acquisition plans and stock buyback program. Additionally, holders of existing convertible notes have agreed to extend their maturity to align with the new credit facility. LiveXLive aims to explore strategic alternatives to enhance shareholder value.
LiveXLive Media (NASDAQ: LIVX) announced its participation in two upcoming investor conferences: the 2021 LD Micro Invitational on June 8 at 11:30 am EDT and the Stifel 2021 Virtual Cross Sector Insight Conference on June 9 at 4:40 pm EDT. The company is a global platform for livestream and on-demand audio, video, and podcasting content. It recently raised its revenue guidance for the 2022 fiscal year, reflecting strong core business performance. LiveXLive focuses on monetization through subscriptions, advertising, and more, having streamed over 1,800 artists since January 2020.
LiveXLive Media (Nasdaq: LIVX) has partnered with FIGHT SPORTS Network to broadcast premium live championship boxing, including the Mayweather vs. Paul fight on June 6, 2021. This collaboration allows LiveXLive subscribers in Europe and Asia access to ongoing live events and an extensive library of legendary fights. The partnership aims to enhance LiveXLive's sports content, catering to passionate sports audiences globally. LiveXLive has recently raised its revenue guidance for the 2021 fiscal year, indicating strength in its core business operations.
LiveXLive Media (NASDAQ: LIVX) announced a partnership with American Songwriter to support aspiring songwriters through an annual contest. Launched on June 1, 2021, the contest allows entrants to win a $10,000 cash prize and a music publishing deal. Each participant receives a three-month LiveXLive Plus subscription. Notable artists will judge submissions, with the winner revealed in December 2021. The collaboration aims to enhance visibility for emerging talent, leveraging LiveXLive's extensive platform to connect artists with a global audience and promote their music.
LiveXLive Media (NASDAQ: LIVX) announces that its senior management will present at the Gabelli Entertainment & Broadcasting Conference on June 3, 2021, at 2:30 PM EDT. The event, focused on the company's unique livestream and on-demand platform, will be available via a free live webcast. LiveXLive is recognized for providing extensive audio and video content, including podcasts and vodcasts, with over 1,800 artists streamed since January 2020. The company has updated its fiscal 2022 revenue guidance based on strong core business performance.
LiveXLive Media (NASDAQ: LIVX) has launched an NFT collection for the upcoming #SocialGloves: Battle of the Platforms event, set for June 12, 2021. This event integrates boxing, music, and NFTs, offering fans collectible moments and unique digital assets. Highlights include limited-edition sneaker NFTs, interactive coins celebrating fighters, and an unprecedented PPV package that includes NFTs with livestream purchases. LiveXLive aims to expand its NFT offerings across music, events, and digital content, enhancing fan engagement and experience.
LiveXLive Media (NASDAQ: LIVX) has announced a binding Letter of Intent to acquire Gramophone Media, Inc., a boutique agency specializing in artist and brand development, with the acquisition expected to close by the end of June 2021. This strategic move aims to enhance LiveXLive's service offerings and is projected to be immediately accretive to earnings. The deal comes as LiveXLive seeks to fortify its position within the music and entertainment industry, leveraging Gramophone's expertise to support artists through comprehensive PR and development services.
LiveXLive Media (NASDAQ: LIVX) partners with Hyundai to produce three vodcasts hosted by popular PodcastOne talent, aiming to support the National Independent Venue Association's #SaveOurStages initiative. These vodcasts, featuring themes aligned with the hosts' passions, will highlight and raise funds for independent venues impacted by the pandemic. The vodcasts are set to air on LiveXLive.com, with the first episode premiering on May 27, 2021. This collaboration strengthens the ongoing efforts to aid small venues at risk of permanent closure, following last year's successful concert series.
LiveXLive Media (NASDAQ: LIVX) announced its partnership with Guy Fieri for the Guy's Restaurant Reboot, a special livestream event aimed at revitalizing the restaurant industry impacted by COVID-19. Scheduled for June 12 at 7:00 PM ET, the event will raise over $300,000 in grants for aspiring restaurant owners and feature celebrity guests and performances. It will be available on multiple platforms including Facebook, YouTube, and TikTok. This initiative underscores LiveXLive's commitment to supporting artists and the restaurant sector.
LiveXLive Media (NASDAQ: LIVX) has raised its revenue guidance for the fiscal year ending March 31, 2022, expecting between $107 million to $115 million and Adjusted Operating Income between $5 million and $10 million. The guidance increase is attributed to factors including ticket sales, sponsorships, and NFTs from the upcoming live event Social Gloves: Battle of the Platforms on June 12, 2021. Additionally, the return of live music events and a growth in paid subscriptions, now at 1.1 million subscribers, are expected to drive revenue further.
