{"id":382233,"date":"2020-11-16T16:08:36","date_gmt":"2020-11-16T21:08:36","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=382233"},"modified":"2020-11-16T16:08:36","modified_gmt":"2020-11-16T21:08:36","slug":"livexlive-media-announces-q2-fiscal-2021-results-and-10th-consecutive-quarter-of-record-revenue","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/livexlive-media-announces-q2-fiscal-2021-results-and-10th-consecutive-quarter-of-record-revenue\/","title":{"rendered":"LiveXLive Media Announces Q2 Fiscal 2021 Results And 10th Consecutive Quarter Of Record Revenue"},"content":{"rendered":"
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– Revenue Increased 52% YOY to a Record $14.6 Million in Q2 Fiscal 2021<\/h2>\n

– Contribution Margin* Increased Over 148% to a Record 29.3% in Q2 Fiscal 2021, up from 11.8% in Q2 fiscal 2020<\/h2>\n

– Q2 Fiscal 2021 GAAP Loss from Operations was ($7.1) Million, a 28% Improvement<\/h2>\n

– Adjusted Operating Loss (AOL)* from Core Operations was ($0.1) Million in Q2 Fiscal 2021, an Improvement of $2.0 Million when Compared to Q2 fiscal 2020 AOL* of ($2.1) Million<\/h2>\n

– Revenue Streams Diversified in Q2 Fiscal 2021 comprised of 53% Subscription, 39% Advertising and Sponsorship and 8% Pay-Per-View Ticketing compared to 94% Subscription and 6% Advertising in Q2 Fiscal 2020<\/h2>\n

– As Compared to Fiscal 2020, Shareholder Equity increased by $20.3 Million, Working Capital Increased by $18.5 million, and Cash Increased by $9 Million to $21.0 Million in Q2 Fiscal 2021<\/h2>\n

– Paid subscribers as of September 30, 2020 increased 21% to 936,000***<\/h2>\n

– Over the last six months, LiveXLive livestreamed 103 events featuring 1,553 artists generating content which has been viewed over 95 million times, as compared to 22 events featuring 224 artists generating content which was viewed over 60 million times for the same period a year ago<\/h2>\n

– Completed Acquisition of PodcastOne and Announced Planned Acquisition of Merchandising Company Custom Personalization Solutions – Expected to Expand and Further Diversify Revenue<\/h2>\n

– Spring Awakening, React Presents trophy property expands live business to Cancun Mexico, has over $1.3 million ticket sales, proving the demand for live music when COVID-19 ends.<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n LOS ANGELES<\/span>, Nov. 16, 2020<\/span> \/PRNewswire\/ —\u00a0LiveXLive Media, Inc. (Nasdaq: LIVX) (“LiveXLive”), a global platform for livestream\u00a0and on-demand audio, video and podcast content in music, comedy and pop culture, and owner of\u00a0PodcastOne<\/a><\/u>,\u00a0Slacker Radio<\/a>, and React Presents<\/a>,\u00a0announced today results for its second fiscal quarter ended September 30, 2020<\/span> and record revenue\u00a0and contribution margin*. <\/p>\n

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\n \"LiveXLive
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In Q2 fiscal 2021, LiveXLive posted record revenue of $14.6 million<\/span>, as well as record contribution margin* of $4.3 million<\/span>. The increases were driven by growth in advertising revenue, strong sponsorship, and pay-per-view (“PPV”) ticket sales and improved margin expansion across LiveXLive’s live music events platform. On a U.S. GAAP basis, LiveXLive recorded a loss from operations of ($7.1) million<\/span> and a net loss of ($10.2) million<\/span>. On a non-GAAP basis, Adjusted Operating Loss (“AOL”)* narrowed to ($1.4) million<\/span> from ($3.7) million<\/span> in Q2 2020.\u00a0 <\/p>\n

LiveXLive CEO and Chairman, Robert Ellin<\/span>, commented, “Delivering the most authentic voice in music in the past 25 years, LiveXLive is a\u00a0leading talent-first platform focused on connecting artists with their superfans – building long term, sustainable, valuable franchises in audio music, podcasting, OTT, pay-per-view and live streaming. Delivering our 10th consecutive quarter of record revenues, our team has built one of the most powerful social live music networks in the world to Attend, Listen, Watch, Engage, and Transact. Based on completed and planned pay-per-view events, the substantial increase in sponsorship deals, and an expected improvement in ad revenue, we expect to report our 11th<\/sup> consecutive quarter of record revenue for our current Q3 fiscal quarter.”<\/p>\n

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\n Recent and Q2 Fiscal 2021 Highlights <\/u>
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