LOS ANGELES, July 2, 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 a cross-platform promotional deal with global sports and entertainment live streaming platform, FITE, to boost digital ticket sales, marketing and promotions for Pay-Per-View events on both platforms. FITE, well-known for its deep expertise in combat sports, has broadened its scope to include a wide array of content verticals, streaming over 1000 events annually with sales in 160 countries. LiveXLive is a global leader in live streamed music and has recently become a leader in the emerging live music PPV industry.
"Our PPV business is off to a strong start, showing what we can do when we take our production chops and partner with artists to monetize those shows direct-to-consumer and deliver subscriptions, merch sales, and to drive advertising and sponsorship value," said Robert Ellin, CEO and Chairman of LiveXLive. "This deal will prove that there is significant crossover interest among sports and music consumers."
FITE's core audience of males 18-40 years old is largest in the U.S., UK, Canada and Australia and further extends LiveXLive's presence in those territories, while FITE will receive additional exposure in the 120+ countries where LiveXLive's content is viewed.
Under the terms of the deal, FITE will run marketing and promotional campaigns on its platform to help drive digital ticket sales for LiveXLive's marquee events, such as the Zac Brown Band, K-Pop sensation Monsta X, the digital festival Live From Out There and more. LiveXLive will market and promote FITE's Pay-Per-View events, including Funk Corona, Impact's Slammiversary 2020, and The 5 Tournament, a Pro Basketball invitational, for starters.
"The relationship we've built with LiveXLive is highly synergistic," said Kosta Jordanov, Co-founder and CEO of FITE. "Both of our companies are at a positive inflection point where people are consuming more premium content via live Pay-Per-View. We can help each other to expand the market and meet the demand with incredible entertainment."
Since it announced Pay-Per-View and digital touring in May 2020, LiveXLive has sold over 17,000 PPV tickets in over 96 countries at an average price of $27 and has produced events with talent like Goose, Dispatch, Ripe, Mihali, Chromeo, James Petralli, Twiddle, Ani DiFranco's Long Time Gone, and nationally-known festival Live From Out There. LiveXLive's PPV initiative is a new revenue-sharing model for both artists and LiveXLive via digital ticket sales, fan tipping, digital meet and greets, merchandise sales and sponsorship, enabling artists to go direct-to-consumer using LiveXLive's PPV platform.
FITE is the premium global platform for sports and entertainment carrying many of the industry's marquee PPV events with hundreds of thousands of paying viewers. FITE is available worldwide through its iOS and Android mobile apps, Apple TV, Android TV, ROKU, Amazon Fire TV. In addition, FITE supports Vizio SmartCast™, Chromecast, PS4, Xbox, Netrange, Vidaa/Hisense, Vewd, Netgem TV, Xfinity 1 and Xfinity Flex as well as 7,000 models of Smart TVs. Available online at www.FITE.tv. Follow us on Twitter and Instagram and Facebook. If it Happens, it's on FITE.
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, 2020, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 26, 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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