Renewed Deal Includes 25+ Live Streamed iHeartRadio Events Annually with iHeartMedia
Los Angeles, CA — May 7, 2020 — LiveXLive Media, Inc. (NASDAQ: LIVX) (“LiveXLive”), a global digital media company focused on live entertainment, and iHeartMedia (NASDAQ: IHRT) announced today a multiyear extension through 2022 of the livestream partnership which includes more than 25 iHeartRadio festivals and theater shows annually and the addition of five new shows – the iHeartRadio Podcast Awards, the 98.7 ALT Summer Camp, the iHeartCountry Veteran’s Day event and iHeartRadio’s CES event. The extended agreement also includes LiveXLive’s exclusive distribution on its platform of two more of iHeartMedia’s top annual events – the iHeartRadio Music Festival and iHeartRadio Jingle Ball — to international audiences.
These new shows add to the roster of more than 25 iHeartRadio events live streamed to date by LiveXLive including the iHeartRadio ALTer EGO, iHeartCountry Festival, iHeartRadio Wango Tango, Daytime Stage at the iHeartRadio Music Festival and iHeartRadio Fiesta Latina — delivering more than 90 live streamed artist performances reaching 16 million viewers in 2019.
“Our partnership with iHeartMedia has shown the appetite audiences around the world have for watching their favorite artists from the comfort of home or on-the-go,” said Robert Ellin, LiveXLive’s Chief Executive Officer and Chairman. “We’re thrilled to bring even more content to these audiences globally and to deliver the best experience for both fans and artists alike with iHeartMedia over the next few years and beyond.”
LiveXLive has invested in building the most comprehensive end to end solution for viewing and listening to live and on-demand music from almost anywhere in the world. LiveXLive has already streamed over 775 artists in the first two quarters of 2020 as compared to 300 artists in all of calendar year 2019. Its inaugural 48-hour nonstop global music festival ‘Music Lives’ garnered 50 million live streams with an average of 200K concurrents and 4.8 billion video views to date for #musiclives on TikTok. On the heels of that success, LiveXLive announced ‘Music Lives ON’ as a weekly three-hour mini-festival airing Friday nights, with plans to expand to continuous live music on Saturday and Sunday. LiveXLive will host ‘Music Lives’ as a tentpole music festival and franchise annually. The company is also producing an ongoing “My Home to Yours” series of special performances as part of its flagship format “LiveXLive Presents”.
LiveXLive, accessible on the web as well as on devices from the car to home, brings music fans the best seat in the house for festivals, concerts and events worldwide, via a curated-by-people audio selection of millions of recorded songs, original programming segments comprised of live performances, podcasts, artist interviews, lifestyle segments, and show pilots. LiveXLive's streams are also available on Amazon, Apple TV, Roku and Samsung TVs. LiveXLive operates a live events business and offers branded entertainment, content development, advertising, merchandising, and live streaming services. For more information about LiveXLive, please visit www.livexlive.com
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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 live streams, 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. 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 4.8 billion views for #musiclives on TikTok on 100+ performances. 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, 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 acquisitions and the timing of the closing of any 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 a 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’s ability to successfully implement its growth strategy, including relating to its technology platforms and applications, management's relationships with industry stakeholders; the effect 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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