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LiveXLive Sees Substantial Growth In Viewership And Cross-platform Engagement In Early 2020

February 28, 2020 GMT
LiveXLive (PRNewsFoto/Loton, Corp.) (PRNewsfoto/LiveXLive Media, Inc.)
LiveXLive (PRNewsFoto/Loton, Corp.) (PRNewsfoto/LiveXLive Media, Inc.)

LOS ANGELES, Feb. 28, 2020 /PRNewswire/ -- LiveXLive Media, Inc. (NASDAQ: LIVX) (“LiveXLive”), a global digital media company focused on live entertainment, has entered the new decade with substantial growth in viewership, up 54% for the first six weeks of calendar year 2020 versus the same six-week period in 2019, and a surge in cross-platform social media engagement of over 340% on Facebook, 80% on Instagram and 140% on Twitter in January 2020 versus December 2019.

Between January and mid-February, LiveXLive livestreamed over 15 performances from top-tier artists including Selena Gomez, Billie Eilish, Blink 182, Coldplay, French Montana, Green Day, Kesha, Lumineers, Sting, YBN Cordae and Anderson. Paak. LiveXLive’s livestream of iHeartRadio’s album release party for Selena Gomez generated over one million streams on the night of the event. Artist star power paired with social simulcasting was a central factor in the growth of the company’s viewership and cross-platform engagement.

“We’ve set a powerful tone for calendar year 2020,” said Jackie Stone, the recently appointed CMO of LiveXLive. “This early momentum reinforces the social-syndication strategy we integrated into our platform in 2019, allowing artists to seamlessly post their LiveXLive performances on their own social media channels. Audience growth and conversion is a top priority as we continue to outpace our numbers during calendar year 2019 comparison periods.”

LiveXLive streams festivals, concerts and events by the world’s most prestigious artists in partnership with iHeartMedia, Insomniac Presents, Montreux Jazz Festival, Rock in Rio, Sziget, and LiveXLive-produced events, among others. Its technology enables artists to deliver their performances to fans worldwide across social media platforms Facebook, Twitter, Twitch and YouTube. As a result, the same content airs at the same time on different social platforms.

“Acquiring greater reach and viewership supports our other key business and revenue goals -- the increased traffic drives subscriptions, sponsorship and advertising opportunities, and ticket and merchandise sales,” said Rob Ellin, CEO and Chairman of LiveXLive. “With our recent acquisition of React Presents, the addition of senior executives like Jackie Stone and Garrett English, and a healthy pipeline of live events and festivals, we’ve set a solid foundation to activate this growing audience across all lines of our business.”

A next generation live social music platform connecting bands, brands and fans, LiveXLive has livestreaming rights for more than 1,500 music festivals and events through exclusive, multi-year partnership agreements with the world’s most prominent music content providers. In its last fiscal year, the company livestreamed premier music festivals from all over the globe, adding more than 300 hours of live performances featuring more than 300 artists to a content library that will be harvested for the launch of digital and linear channels.

LiveXLive operates a paid subscription platform and a live events business, as well as branded entertainment, content development, advertising, merchandising, and livestreaming services. In addition to livestreamed events, LiveXLive offers music fans original programming segments comprised of live performances, podcasts, artist interviews, lifestyle segments, and show pilots. For more information about LiveXLive, please visit www.livexlive.com.

About LiveXLive Media, Inc.

Headquartered in Los Angeles, California, LiveXLive Media, Inc. (NASDAQ: LIVX) (the “Company”) is a global digital media company focused on live entertainment. The Company operates LiveXLive, the first ‘live social music network’, delivering premium livestreams, digital audio and on-demand music experiences from the world’s top music festivals and concerts, including Rock in Rio, EDC Las Vegas, the Montreux Jazz Festival, and many others. LiveXLive also gives audiences access to premium original content, artist exclusives and industry interviews. For more information, visit www.livexlive.com and follow us on Facebook, Instagram 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 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, successfully implementing the Company’s growth strategy, including relating to its technology platforms and applications, management’s relationships with industry stakeholders, changes in economic conditions, competition, 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, 2019, filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 24, 2019, Quarterly Report on Form 10-Q for the quarter ended December 31, 2019, filed with the SEC on February 7, 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.

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SOURCE LiveXLive Media, Inc.