LiveXLive Fiscal Fourth Quarter Revenue Rises

Q4 Revenue Increase

LIVEXLIVE MEDIA, INC. fiscal fourth quarter 2020 revenue rose from $9.2 million to $9.9 million, boosted mostly by subscription revenue, with paid subscriber count up 25% to end 2020 with 849,000 paid subscribers. Operating loss narrowed from $8.5 million to $7.9 million; Adjusted Operating Loss widened from $1.9 million to $2.2 million.

Chairman/CEO ROB ELLIN said, "With the abrupt pause of live music concerts due to COVID-19, we have quickly and successfully positioned LIVEXLIVE as the leader in music and entertainment across live streaming, pay-per-view events, podcast and vodcasts. We are now a full stack live streaming platform with the ability to monetize content in multiple ways and times. We intend to continue our strong organic growth path while being opportunistic regarding further acquisitions and have dramatically improved the economics of our business with a clear focus on profitability."

"Our Q4 results were on target, highlighted by strong subscriber growth and substantial improvement in operating leverage in the second half of fiscal 2020," added CFO MICHAEL ZEMETRA. "The anticipated acquisition of PODCASTONE is an important part of LIVEXLIVE's evolution and is expected to open up significant monetization opportunities, revenue and cost synergies and provide a springboard to accelerate our business and expected profitability moving forward."

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