LiveXLive acquires EDM promoter React Presents

Festival streaming platform LiveXLive has acquired React Presents, a Chicago-based promoter of electronic dance music events, for US$2 million.

React Presents, which puts on events including Spring Awakening Festival, Summer Set Music Festival and Mamby on the Beach, as well as over 250 club and venue shows a year, was formerly part of the LiveStyle portfolio (previously SFX Entertainment). The promoter generated $15m in revenue last year.

“This is a transformative moment in the evolution of LiveXLive,” comments the company’s CEO and chairman Robert Ellin. We have quickly become a leading livestreaming and original music content platform with a large global audience and more than 820,000 paid subscribers.

“By acquiring this key asset in the EDM space, we expanded our audience reach with the addition of more than 250 programmes and events”

“By acquiring this key asset in the EDM space, we added $15 million in revenues, expanded our audience reach with the addition of more than 250 programmes and events, and continued to fill in our flywheel with event ownership and management.”

In addition to its livestreaming platform for festivals including Rock in Rio, EDC Las Vegas and Montreux Jazz Festival, LiveXLive produces its own original music content, and also owns ticketing company Wantickets, management firm LXL Influencers, digital radio business Slacker and has partnered with esports venue giant Allied Esports.

Photo: swimfinfan/Flickr (CC BY-SA 2.0) (cropped)

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