LiveXLive Media, Inc.
New Upgraded Apps Deliver Songs, Shows and Podcasts in Personalized Dashboard to Over 90 Million Consumers in United States and Canada
LOS ANGELES, June 4, 2020 /PRNewswire/ -- LiveXLive Media, Inc. (NASDAQ: LIVX) ("LiveXLive"), a global platform for live stream and on-demand audio, video and podcast content in music, comedy and pop culture, announced today that it has released a new unified audio-video Smart TV app experience on Samsung TV, Apple TV and Roku, with Amazon Fire soon to follow. Reaching an estimated 90 million monthly active users though such distribution platforms, and nearly 100% of the total addressable market*, LiveXLive's new Smart TV app offering provides music fans in the United States and Canada with a one-stop destination for listening to and watching music and pop culture entertainment. LiveXLive's new personalized and interactive user experience comes largely as a result of audience-demand. LiveXLive's OTT channels have also seen an 8% lift in viewership further demonstrating the audience's appetite for more LiveXLive content.
"Our audience has been clamoring for this functionality and few in the market deliver a truly unified experience like this," said Robert Ellin, Chairman and CEO of LiveXLive. "This is an opportunity for us to create dominance in this arena and as Smart TV ad delivery for audio and video formats improves, we'll be well-positioned to capitalize on that inventory opportunity long term."
LiveXLive has diversified its programming mix to include celebrity and story-driven podcasts, original interviews and news formats like its flagship show "LiveZone," audio playlists and live stream events featuring some of the world's top artists and emerging talent, from Green Day, Selena Gomez, Lizzo, John Legend, Paul McCartney, The Rolling Stones, Big Gigantic, Elohim, Lauv, Lil Baby, lovelytheband, Trippie Redd, and Whipped Cream. The new LiveXLive Smart TV apps incorporate seamless discovery and search to make finding and watching LiveXLive's library of premium content as easy as possible for the user.
LiveXLive's Smart TV app is currently enabled for audio advertising as well as brand integration and sponsorship.
"As we expand our audience development strategies and accumulate brand loyalty across our various channels and partner platforms, the next objective is to create an upsell offering that converts that audience into our paid products -- from subscription to pay-per-view live stream events," said Jackie Stone, Chief Marketing Officer of LiveXLive.
LiveXLive's new unique offering of audio streaming, podcasts, live streaming, and on-demand video provides artists with an end-to-end music platform for creating, curating, promoting, and distributing content, while gaining valuable data & insights and new monetization opportunities from their social media followers, viewers and performances.
*Roku reported 39.8 million active users on its platform in its Q1 2020 earnings report. Amazon's Fire TV reported over 40 million active users in its Q4 2019 earnings report. Apple TV reported upwards of 33 million active users for its Plus service earlier this 2020 calendar year. Samsung has over 33% of the total market share in the United States for Smart TV devices.
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 1000 events in 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. For more information, visit www.livexlive.com and follow LiveXLive 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 the proposed acquisition of PodcastOne and the timing of the closing of the proposed transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed acquisition 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; 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. 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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LiveXLive Releases New Unified Audio-Video Smart TV App Experience On Apple TV, Roku And Samsung TV, With Amazon Fire To Follow, Driven By Consumer Demand