LiveXLive Reaches 720,000 Subscribers, Burning Through $9.8 Million in the Process

LiveXLive Media has posted its financials.

The global streaming company posted $9.2 million in revenue for its fiscal Q4 2019 quarter ended March 31st, 2019, up from $9 million in the previous quarter (its Q3 2019).  Contribution margin also rose to $2.2 million in Q4 2019, up from $1.4 million in the previous quarter.  LiveXLive attributed the growth in revenue and contribution margin to strong subscriber growth.

The global streaming company’s paid subscribers also jumped 52% year-over-year – or a net 233,000 subscribers – to over 680,000 subscribers.  Currently, LiveXLive has 720,000 subscribers.

The publicly traded company, however, continues to burn money.  Operating loss totaled $8.5 million in Q4 2019, up from $7.2 million year-over-year.  Net loss also reached $9.8 million, up from last year’s $9.5 million.  Adjusted operating loss totaled $1.9 million, down $500,000 over Q4 2018.

During its Q4 2019, LiveXLive streamed and produced 5 live events and also made “incremental” investments aimed at driving long-term growth.  These growth activities, however, drove the increases in net loss, operating loss, and adjusted operating loss.

Events included ALTerEGO, EDC Mexico, LiveXLive Presents after the Grammys, LiveXLive Presents at CES Las Vegas, and the Weezer Album Release Party.

For its fiscal 2019 year, the company achieved over 50 million livestreams, 400 artist streams, and 400 hours of live music content stream.  For the first two months of its fiscal 2020, LiveXLive has generated over 20 million livestreams as well as 85 artists and 125 hours of live music content streamed.

Speaking about the company’s financials, Michael Zemetra, LiveXLive’s Chief Financial Officer, explained,

We’re pleased with our accelerated subscriber growth and record financial performance throughout fiscal 2019.  We ended fiscal 2019 with over 50% growth in paid subscribers and launched key sponsorships and programming across our music platform.

“With the year-over-year and sequential improvements in our contribution margins and operating results, we remain well positioned to continue investing in our immediate growth objectives.

With its “incremental investments,” it remains to be seen whether the company can actually post a profit.

 


Featured image by Paul Hohmann (CC by 2.0).

LiveXLive Announces Distribution Agreement With Tencent Video

LiveXLive Media has confirmed another major partnership.

The global media company has announced a distribution agreement with the video arm of Chinese conglomerate Tencent Corp.

The agreement grants Tencent Video the exclusive rights to distribute the LiveXLive-produced livestream of Insomniac’s EDC Las Vegas throughout China.

The video division currently has over 89 million subscribers and more than 900 million monthly active users.

This year, the global media company has already secured multiple agreements with major companies.

Two days ago, LiveXLive an exclusive livestreaming and multi-platform distribution agreement with Synergy Global Entertainment (SGE).  The deal will see the global media company stream select performances from 11 upcoming SGE festivals and events.  The livestream event will include related original content as well as episodic programming.

Founded in 2009, SGE has produced over 50 music festivals in partnership with artists.  The company is slated to produce 20 music festivals this year with over 1 million expected ticket sales, including Knotfest, Real Street Festival, and Surf City Blitz, among others.

Last March, LiveXLive a multi-year agreement with iHeartMedia to produce a brand-new revenue stream.

The expanded partnership will give LiveXLive exclusive global live streaming rights to 17 iHeartRadio marquee events this year.  These include ALTer Ego, iHeartCountry Festival, iHeartRadio Wango Tango, Daytime Stage at the iHeartRadio Music Festival, and iHeartRadio Fiesta Latina, among others.  The deal also includes licensing and streaming rights for select iHeartRadio theater performances.

Speaking about the company’s deal with Tencent Video, Robert S. Ellin, LiveXLive’s Chairman and CEO, explained,

Our agreement with Tencent marks a milestone as we continue to expand our global distribution partnerships.  Last year, we streamed EDC Las Vegas to more than 10 million people.  Our partnership with Tencent provides us with a unique opportunity to deliver one of the best dance music events in the world to an even larger audience.

Prince Wang, Tencent Video’s Senior Strategic Partner Manager, added,

This partnership will significantly enrich our overseas content in terms of live music programming.

Viewers in China can view EDC Las Vegas on the Tencent Video website as well as on apps on mobiles, tablets and smart TVs.  Outside of China, people can access the livestreams on LiveXLive.com as well as LiveXLive’s mobile and OTT apps for iOS, Android, Roku, Amazon Fire TV, and Apple TV.

 


Featured image by LiveXLive.