LiveXLive Media Posts Record Results For Q1 2021

Record Results For Q1 2021

LIVEXLIVE MEDIA, released record results for its first fiscal quarter ended JUNE 30th.

In Q1 fiscal 2021, LIVEXLIVE posted record revenue of $10.5 million as well as record contribution margin of $2.8 million. The increases were driven by growth in subscription revenue, strong sponsorship sales growth and improved margin expansion across LiveXLive's live music events platform. 

CEO/Chairman ROBERT ELLIN commented, "LIVEXLIVE was uniquely positioned to benefit from the abrupt stop of live music and entertainment due to COVID-19. We have the first talent-centric platform focused on superfans and building long term franchises in audio music, podcasting, OTT linear channels, pay-per-view, and livestreaming. Our model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales and ticketing. We are excited to raise our revenue guidance for our 2021 fiscal year based on momentum in our core businesses." 

« see more Net News