LiveXLive Revenues Up For First Fiscal Quarter

Revenues Rise

LIVEXLIVE MEDIA, INC. first fiscal quarter 2020 revenue rose 25% to $9.5 million year-to-year, while its net loss widened slightly from $10.768 million to $10.966 million (Adjusted Operating Loss flat at $4.6 million).

The company livestreamed 9 festivals and events and produced two additional events in the quarter, including EDC VEGAS, iHEARTRADIO's iHEARTCOUNTRY FESTIVAL and WANGO TANGO, and concerts with BTS, MADONNA, JUDAH & THE LION, VAMPIRE WEEKEND, THOMAS RHETT, and THE RACONTEURS. The company ended the quarter with a 50% increase year-to-year in paid subscribers, reaching 740,000.

"LIVEXLIVE is off to a strong start in fiscal 2020, highlighted by 25% revenue growth, a significant improvement in contribution margin and continued 50% growth in paid subscribers when compared to Q1 2019," said Chairman/CEO ROBERT ELLIN. "We are streaming many of the most exciting music festivals in the world and have partnered with the biggest artists and promoters, resulting in record levels of viewership.  LIVEXLIVE has quickly established itself as the authentic thought leader in music globally and we have an incredibly exciting roadmap and business plan for the rest of the year and beyond."

"We are pleased with our record KPIs, growth in paid subscribers and financial performance in the first quarter of fiscal 2020," said CFO MICHAEL ZEMETRA. "With the closing of our $10.5 million common stock offering in July 2019, we have a strong foundation to accelerate our growth objectives during the remainder of fiscal 2020."

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