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LiveXLive Media, Inc. (NASDAQ: LIVX) has announced a multi-year partnership with Source Digital to enhance live stream performances with advanced contextual commerce and advertising. This innovative collaboration aims to deliver richer viewer experiences and increase advertising revenue by offering interactive content during live events. CEO Robert Ellin emphasized the deal's potential for expanding advertising inventory and enhancing brand engagement. This agreement marks a significant step towards diversifying revenue sources for LiveXLive, which has been a key player in live streaming, showcasing over 11,100 artists in 2020.
LiveXLive Media, Inc. (NASDAQ: LIVX) announced the completion of its acquisition of PodcastOne in an all-stock deal. PodcastOne generated $27.5 million in revenue in 2019 and will operate as a wholly-owned subsidiary, diversifying LiveXLive's business model. This acquisition enhances LiveXLive's capabilities in the fast-growing podcast market, where 32% of Americans listen monthly. The deal involves the issuance of approximately 5.36 million restricted shares to PodcastOne stockholders and is expected to strengthen LiveXLive's balance sheet while providing opportunities for cross-promotion.
LiveXLive Media, a live-streaming platform, announced the launch of the first-ever digital Spring Awakening Music Festival on July 4-5, 2020. This festival, in partnership with Corona Electric Beach, aims to unify virtual and real-life concert experiences, featuring renowned artists like Krewella and Claude VonStroke. With 22 performers, the event will include exclusive merchandise, artist interviews, and meet-and-greets. The festival also supports the MusiCares Covid-19 Relief Fund. LiveXLive sees this as a significant opportunity to enhance its business model and expand its audience nationwide.
LiveXLive Media (NASDAQ: LIVX) announces a sold-out launch of VIP tickets for a K-Pop event featuring Monsta X, all priced at $149.99, within two minutes of sales beginning on June 26, 2020. Set for July 25, 2020, this exclusive global performance benefits from a new pay-per-view model. Since launching this initiative in May 2020, LiveXLive has sold over 17,000 tickets across 96 countries. The company reports significant growth, including 873,000 paid subscribers and over 78 million live stream views this year, reflecting a thriving digital performance strategy.
LiveXLive Media (NASDAQ: LIVX) announced an exclusive international pay-per-view (PPV) event featuring K-Pop group Monsta X, scheduled for July 25, 2020. The concert marks Monsta X's only full-length global performance for 2020, with ticket sales starting on June 26. Priced from $19.99, the event will include unique content such as behind-the-scenes footage and fan interactions. LiveXLive's recent initiatives have resulted in over 10,000 ticket sales at an average price of $20, indicating strong market engagement.
LiveXLive Media, Inc. (LIVX) reported fiscal year 2020 revenue of $38.7 million, a 15% increase from $33.7 million in 2019, driven by strong subscriber growth. The company's net loss was $38.9 million, influenced by operational investments and $23.3 million in non-cash expenses. Q4 revenue rose to $9.9 million from $9.2 million year-over-year, with paid subscribers increasing by 25%. The anticipated acquisition of PodcastOne is expected to boost monetization opportunities. FY 2021 guidance predicts revenue between $61 million and $67 million, with expected Adjusted Operating Loss of $2.5 to $5 million.
LiveXLive Media (NASDAQ: LIVX) partners with Live Nation Urban and Color of Change to present "Lift Every Voice: A Juneteenth Special", airing on June 19 at 5 PM PT/8 PM ET. This 90-minute event celebrates African American culture with performances from prominent artists in hip hop, R&B, and Gospel. Hosted by Charlamagne Tha God, the event highlights the cultural significance of Juneteenth, emphasizing unity through music. Additionally, LiveXLive has designated Juneteenth as an annual paid holiday, joining companies like Nike and Twitter in this initiative.