LOS ANGELES, Aug. 10, 2020 /PRNewswire/ — LiveXLive Media, Inc. (NASDAQ: LIVX) («LiveXLive»), a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, announced today that since launching its livestream Pay-Per-View (PPV) and digital touring platform in May 2020, LiveXLive has sold over 32,000 PPV tickets in over 96 countries at an average price of $27, generating over $850,000 in ticket sales.
LiveXLive’s PPV initiative was created as a revenue-share model to support artists while concerts and touring are at a standstill during COVID-19. LiveXLive’s PPV platform allows artists to go direct-to-fans and perform full length concerts with unique behind the scenes footage, docureality-style coverage coupled with premium tiered ticket pricing, including VIP experiences, exclusive merchandise, digital meet-and-greets, and other event-exclusive perks.
«The enormous early success of our livestream pay-per-view offering can be attributed to super engaged fanbases, electrifying performances, and LiveXLive’s unique talent-centric music platform focused on connecting artists and superfans,» said Dermot McCormack, president of LiveXLive. «Our newly created pay-per-view platform provides the music industry with new revenue streams, which benefit artists, managers, agents, publicists, and other music professionals.»
As part of its PPV offering, LiveXLive utilized its various promotional channels reaching over 873,000 paid subscribers, 34 million email registrations, and 850k followers on social media. LiveXLive also simulcasts its events across its owned and operated platform, mobile and SmartTV apps and channels, as well as its own and the artist’s various social media channels on Facebook, Twitch, Twitter and YouTube.
Past PPV events include Live From Out There, which has resulted in over 100 PPV shows livestreamed on LiveXLive, including Goose Bingo Tour, Twiddle Roots Tour, Ani DiFranco’s «Prison Sessions», and Virtual Summer Camp Festival and a K-Pop concert. Future exclusive LiveXLive PPV events include top artists such as Pitbull, Nelly, Jeremih and a Modern Drummer Neil Peart Tribute, plus many more.
Since January 1, 2020, LiveXLive has live streamed 71 live music events and 1,200 artists, an increase of over 470% and over 1,100%, respectively, as compared to the same time period last year. LiveXLive’s platform has generated over 88 million livestream views and over 5 billion video views on TikTok.
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.
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 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, 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.
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SOURCE LiveXLive Media, Inc.