LivexLive Fiscal Third Quarter 2021 Revenue Rises

Q3 2021

LIVEXLIVE MEDIA, INC. fiscal third quarter 2021 revenue nearly doubled year-to-year to $19.1 million, credited to growth in advertising and sponsorship revenue (PODCASTONE was also added last year), offset by a decrease in subscription revenue due to a contractual dispute. The company's paid subscribers increased 22% by the end of 2030 to over 1 million. Net loss was roughly flat in overall dollars ($8.8 million to $8.7 million) and narrowed on a per-share basis from 15 to 12 cents/basic and diluted share.

Chairman/CEO ROB ELLIN said, "Delivering our 11th 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. We continue to expand our flywheel business model as we completed in Q3 the acquisition of an e-commerce merchandising business, a new vertical that presents significant opportunity to grow revenue by leveraging our audience, platform and entertainment industry relationships to add specialized consumer product revenue.

"We are building long term, sustainable, valuable franchises in audio music, podcasting, OTT, pay-per-view and live streaming. Based on our current estimates and expectations, we are pleased to provide full-year fiscal 2022 revenue guidance of between $90 - $100 million, with meaningful upside in the event live concerts and festivals return."

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