LiveXLive Media, Inc.
Deal Includes A Minimum of Seven Slates of Existing Audio Up Media Podcasts/Vodcasts Plus a Partnership to Develop and Produce New Original Podcasts and Original Music in Podcasts with IP for TV, Films, Licensing and More
Existing Podcasts include "Halloween in Hell" with Machine Gun Kelly, Tommy Lee, iann dior, and 24KGoldn; "Uncle Dark" with Gary Busey and Dennis Quaid, "Where the Bodies are Buried" with Phil Chalmers and "Tom Green Interview" with Tom Green
LOS ANGELES, Dec. 21, 2020 /PRNewswire/ -- LiveXLive Media (Nasdaq: LIVX) ("LiveXLive"), a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, and owner of PodcastOne, Slacker Radio and React Presents, announced today that it has entered into a two-year joint venture agreement with Audio Up Media, a premium audio entertainment company and one of the fastest growing podcast businesses in the world.
The deal includes LiveXLive's exclusive distribution and advertising sales rights for existing Audio Up podcasts, as well as co-ownership of planned new podcast shows. The new shows will feature both a variety of different major recording artists as well as original music. Both LiveXLive and Audio Up will be co-funding the joint venture and all revenue generated as part of the deal will be evenly split. In addition to podcast distribution, LiveXLive will have a second window opportunity to develop these podcasts into film and television properties, and artist album releases.
Audio Up Media was founded by Jared Gutstadt and is the first company to overcome licensing hurdles by creating its own IP, which incorporates music and content and spawns future hit soundtracks, TV content, books and live events. The company currently has a first look for film and TV with MGM, which came alongside the studios' investment into Audio Up's series A round.
Gutstadt is a multi-hyphenate producer, songwriter, inventor, and live events director known for his patented technology (the Jingle Player) that transformed the TV marketplace via his company Jingle Punks, one of the highest valued music publishing companies across the media space. After building a $120 million dollar publishing venture, Gutstadt exited the company in 2019. Over the course of his career, he has collaborated with an array of A-list talent, including DJ Khaled, 24kGoldn, Miranda Lambert, Machine Gun Kelly, T-Bone Burnett, Steven Tyler, Lil Wayne, Bob Dylan, Poo Bear, Brad Paisley and Timbaland among many others. Gutstadt has won over 25 ASCAP Awards, was the 2020 recipient of Adweek's Podcast of the Year Award for Innovator and Producer of the Year and is also a two-time Emmy nominee. He was recently named Chief Collaboration Officer at the Tisch School of the Arts of NYU's Clive David School.
"Jared is a rock star and Audio Up is a fast mover. This announcement comes following the release of the Edison Research study on podcast "Super Listeners". What Super Listeners want is great, creative content focused on artists, music and events that fill their ever-expanding hunger for on-demand podcasts. We know what works in podcasting. This partnership with Jared and Audio Up works!" stated Norm Pattiz, PodcastOne's Founder and Chairman.
As part of the deal, LiveXLive Music Publishing will be collaborating with Audio Up on the development and distribution on all forthcoming projects, and will co-own all new music that is created within the slate of new podcasts and shows. Featuring both independent and major recording artists, these podcasts will create a virtual playground for the artists and music producers collaborating in this world.
Audio-Up is pioneering a music first approach to podcasting by creating a new form of music discovery with its slate of scripted musicals. "The long-term value of the underlying story IP and ancillary music rights is a long term bet we are placing across the media space. We are happy that LiveXLive shares our vision that one of these will become the next Empire or A Star is Born." says Gutstadt.
"We are incredibly excited to partner with Jared and his talented team of writers and producers to develop these new properties for PodcastOne. I have known and worked with Jared for many years and this JV will bring a new fresh slate of podcasts and cutting edge music to both companies," said David Schulhof, President of LiveXLive Music Publishing.
Audio Up Media has created and brought to life a number of podcast blockbusters in 2020, including the breakout smash Halloween in Hell, a fantasy musical comedy featuring Machine Gun Kelly, 24kGoldn, Tommy Lee, and iann dior; the riveting top 20 crime podcast Where The Bodies Are Buried; Tom Green's The Tom Green Interview; the highly anticipated sci-fi musical Sonic Leap with Lava for Good, featuring the debut album of Hero the Band; and the Warner Music funded comedy musical Uncle Drank: The Totally Hammered Podcast starring Gary Busy and Dennis Quaid.
Jared Gutstadt, CEO of Audio Up Media stated, "We are excited about the opportunity to partner with LiveXLive and PodcastOne. Tapping into their endless music and podcast capabilities, they are able to offer a new listenership and livestreaming audience to Audio Up's properties. Our goal is to create events where music from the podcast musicals are performed as one-off events brought to you by our array of sponsors."
LiveXLive has the first talent-centric platform focused on superfans and building long-term franchises in on-demand audio and video, podcasting, vodcasting, OTT linear channels, pay-per-view ("PPV"), and livestreaming. Its model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales, licensing, and ticketing.
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 livestream and on-demand audio, video and podcast content in music, comedy, and pop culture. LiveXLive, which has streamed over 1,800 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.
About Audio Up Media:
Audio Up Media is a podcast content production studio, housing a world of infinite, audio-based properties. Ran by Audio Up CEO and Adweek's 2020 Podcast Innovator of the Year and Podcast Producer of the Year recipient, Jared Gutstadt (formerly of the Jingle Punks), Audio Up is building an ecosystem of premium entertainment content within the music and audio space. From fictional scripted podcasts, which include a Marvel-like universe of musicals, where the records themselves become the story foundation, to one-on-one interview formats, Audio Up's goal is to create a new and innovative form of IP. They are bringing audio blockbusters to life and taking this media from black and white, into technicolor. Current properties include the riveting top 20 crime podcast Where The Bodies Are Buried, Michael Cohen's new chart-topping podcast Mea Culpa, and Tom Green's The Tom Green Interview. Their recent projects include Make It Up As We Go with Scarlett Burke, Miranda Lambert, Lindsay Ell and other huge country entertainment names; and four-part scripted Halloween podcast Halloween in Hell with Machine Gun Kelly, 24kGoldn and iann dior. Up next, Audio Up will debut Sonic Leap featuring Hero The Band, and Uncle Drank: The Totally Hammered Podcast starring Gary Busy and Dennis Quaid.
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LiveXLive Announces Podcast/Vodcast Joint Venture With Audio Up Media