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).