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Nas teams up with LiveXLive to create urban content

Live entertainment company LiveXLive has signed a deal with rapper Nas and music company Mass Appeal, home to Nas’ record label, for a “360 degree partnership” to create, produce and distribute original urban-focused content.

Mass Appeal and Nas will curate a station on Slacker Radio, the internet radio service acquired by LiveXLive in 2017, and work to develop brand partnerships to establish new opportunities across urban and hip hop music.

Under the agreement, LiveXLive, Nas and Mass Appeal will work in conjunction to produce a slate of original programming for the LiveXLive platform, and co-produce original content to sell to third parties.

“I’m excited for Mass Appeal to continue expanding into different areas of media and music consumption in 2019,” says Nas. “Our partnership with LivexLive is the next step in that evolution.”

“We want to show the power live performances can have in connecting with fans, and this collaboration will bring them experiences in real time,” adds Nas.

“We want to show the power live performances can have in connecting with fans”

Chairman and chief executive of LiveXLive, Rob Ellin, comments on the “impressive” accomplishments of both Nas and Mass Appeal.

“Our partnership with Nas and Mass Appeal symbolises our status as a leader in hip hop and urban-focused content. The synergy of our partnership will be powerful as we together develop authentic, innovative concepts and programming,” says Ellin.

Launched in 2015, LiveXLive initially dubbed itself the “ESPN of premium live music experiences”, aiming the create a 24-hour network of live music broadcasting. The company livestreamed eight major music festivals last year, including Sziget, Paléo and Montreux Jazz Festival.

Expanding into other areas, LiveXLive acquired Wantickets in 2016 and created its own management division, LXL Influencers, in 2017. The Nasdaq Capital Market-listed company now produces much of its own, original music-related content.

LiveXLive continues to grow financially, reporting a record revenue of US$8 million in Q2 2019, driven by subscriber growth and advertising revenue.

 


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Festival live-streamer LiveXLive grows revenue, subs in Q2 2019

Live music video platform LiveXLive recorded a 5% quarter-on-quarter increase in turnover in Q2 2019, boosted by growth in paid subscribers, ad revenue and its roster of partner festivals.

The West Hollywood-based company, which listed on the Nasdaq Capital Market in February, LiveXLive posted record-to-date revenue of US$8m in the last quarter, compared to $7.6m in Q1 2019, driven by strong subscriber growth and advertising revenue.

In Q2, LiveXLive livestreamed eight major festivals – Montreux Jazz Festival, Sziget, Paléo Festival Nyon, Global Dance Festival in Denver, Colorado, HARD Summer Music Festival in Fontana, California, Bumbershoot in Seattle, Rolling Loud Festival in California and Life is Beautiful in Las Vegas – up from five in Q1 2019 and three in Q2 2018.

It also increased its paid subscriber base by 12% to 549,000 (585,000+ as of today). In total, more than 40m people watched its music live streams during the last quarter.

Operating loss for Q2 was $9.5m, with net loss standing at $10.3m – a consequence of “ongoing operating investments” made to grow the company, according to an earnings release.

“We continued to execute in Q2 2019, livestreaming a record number of festivals, improving our operating results and use of capital sequentially and exiting Q2 with a run rate of over 50% growth year over year in paid subscribers across our music platform,” says Michael Zemetra, who joined the company as CFO in April.

“We are well-positioned to continue investing in content, future festivals and our music platform”

“With the improvements in operating results, lower cash spend in Q2 versus Q1 2019 and accelerated growth in paid subscribers, we are well-positioned to continue investing in content, future festivals and our music platform to support our immediate growth objectives.”

LiveXLive provides an online video network for streaming live music and music-related content. It launched in July 2015, initially positioned itself as the “ESPN of premium live music experience” with its aim of creating a 24-hour network of live music broadcasting digitally and on mobile.

After moving into ticketing in 2016 with the acquisition of Wantickets, following that company’s top brass’s controversial defection to Eventbrite, the company began to develop original content, launching slate of programming that now includes “180+ pieces of short-form content [including] artist interviews, lifestyle segments and show pilots”.

It also recently launched a management division, LiveXLive Influencers, focusing on social-media stars, and in September 2017 announced plans to acquire internet radio service Slacker Radio.

“LiveXLive continued our year with another strong quarter in Q2 2019,” says Rob Ellin, LiveXLive’s CEO and chairman, “with record revenue driven by solid growth in our paid subscriber base, which today has surpassed 585,000, and improved operating results over Q1 2019.

“Our successful integration of LiveXLive operations with Slacker has increased impressions and accelerated our active users and total viewership, driving a record number of livestreams and, most importantly, growth in our paid subscriber base. We are tightening our revenue guidance range to $37.5–$45 million for the full year to reflect the strong momentum we are seeing across the business.”

 


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LiveXLive hires new CFO

Live music video streaming company LiveXLive Media has hired veteran tech exec Michael Zemetra, most recently chief financial officer (CFO) of cloud-computing giant J2 Global, as its new CFO.

Zemetra succeeds outgoing CFO Jerry Gold, who guided the growing business through its acquisition of internet radio service Slacker Radio and, most recently, its listing on the Nasdaq Capital Market. Gold, who joined the company last April, has been appointed chief strategy officer and joins LiveXLive’s board of directors.

“LiveXLive is positioned to capitalise on the massive opportunities in streaming music and live events, and I am thrilled to join as its chief financial officer,” says Zemetra, who was also previously CFO for in-flight entertainment company Global Eagle and senior VP at web content company Leaf Group (previously Demand Media).

“This is an exciting time to join the talented LiveXLive team, and I look forward to contributing to the next phase of the company’s growth and evolution.”

LiveXLive provides an online video network for streaming live music and music-related content. It launched in July 2015, and initially positioned itself as the “ESPN of premium live music experience” with its aim of creating a 24-hour network of live music broadcasting digitally and on mobile.

“As we approach the start of music festival season, we are extremely excited for our future”

In May 2016 it signed a strategic partnership with MTV to provide the broadcaster with LiveXLive’s stream of the closing night of Rock in Rio Lisbon (partnerships with Live Nation’s Outside Lands and AEG’s Hangout have followed since), and shortly after moved into ticketing with the acquisition of Wantickets following that company’s top brass’s controversial defection to Eventbrite.

It has since moved more into original content, with plans to develop a slate of “music news programming, documentaries, specials, and long- and short-form content”, and also recently launched a management division, LiveXLive Influencers, focusing on social-media stars.

“We are sincerely grateful to Jerry for his outstanding leadership and continuing contributions to the growth and success of LiveXLive and are pleased to have him join the board,” says Robert Ellin, CEO and chairman of LiveXLive. “Michael’s proven track record as a financial leader guiding highly relevant technology and media companies is an incredible asset that we will leverage as we continue to grow and build our market presence.

“As we approach the start of music festival season, we are extremely excited for our future and are focused on executing on the very significant opportunities ahead of us.”

 


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Social media star Jake Paul joins LiveXLive

Live-streaming platform LiveXLive has become the latest concert business to tap into a growing pool of young online talent, hiring social-media personality Jake Paul as content creator/contributing social editor.

Paul, who made his name on now-defunct video platform Vine, currently stars in Disney Channel programme Bizaardvark. He has almost nine million subscribers on YouTube, and recently released his first single, ‘It’s Everyday Bro’, which debuted at no2 on iTunes and garnered more than 27m views on YouTube within a week.

WME-signed Paul also recently played his first live show, at Los Angeles nightclub Exchange LA.

At LiveXLive, he partners with Andrew ‘King Bach’ Bachelor and Amanda Cerny to create “original short-form content and viral promotions on the LiveXLive platform for their massive millennial audiences”.

“Jake Paul has quickly demonstrated that he can create music-related content that resonates with young audiences by the millions,” comments Robert Ellin, founder and CEO of LiveXLive. “With his music career launching at the same time that we’re expanding our original content production and live music streaming deals, this couldn’t be a better match.”

LiveXLive, which launched in July 2015, initially positioned itself as the “ESPN of premium live music experience” with its aim of creating a 24-hour network of live music broadcasting digitally and on mobile. Last May it signed a strategic partnership with MTV to provide the broadcaster with LiveXLive’s stream of the closing night of Rock in Rio Lisbon, and shortly after moved into ticketing with the acquisition of Wantickets following that company’s top brass’s controversial defection to Eventbrite.

It has since moved more into original content, with plans to develop a slate of “music news programming, documentaries, specials, and long- and short-form content”.

 


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LiveXLive hires Jerry Gold as EVP and CFO

Loton Corp has hired former Warner Music exec Jerry Gold to serve as executive vice-president and financial officer of its LiveXLive live-streaming business.

Gold (pictured), who also managed Warner’s investment in its Columbia House JV with Sony Music and was previously a partner at Ernst & Young, will bring “tremendous experience, an unparalleled network and financial expertise to LiveXLive”, says its founder and CEO, Rob Ellin.

LiveXLive, which launched in July 2015, is positioning itself as the “ESPN of premium live music experience” with its aim to create a 24-hour network of live music broadcasting digitally and on mobile. Last May it signed a strategic partnership with MTV to provide the broadcaster with LiveXLive’s stream of the closing night of Rock in Rio Lisbon, and shortly after moved into ticketing with the acquisition of Wantickets following that company’s top brass’s controversial defection to Eventbrite.

“The live music streaming industry is massive and fragmented. Jerry’s experience will be invaluable to LiveXLive”

Ellin comments: “The live music streaming industry is massive and fragmented. Jerry’s experience, along with other music industry luminaries on our team, such as Phil Quartararo, the former CEO of Virgin Records, Warner Bros Records and EMI, will be invaluable to LiveXLive as we execute on our intent to be a consolidator in the space.”

“LiveXLive is reinvigorating the music business by filling the gap between live and accessible music experiences, with a sharp focus on mobile,” adds Gold. “Having spent much of my career in the global media and entertainment industry, I understand the passion, and increasing demand, for live music, and am excited to join the movement.”

 


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Bengough now sole owner of Koko Camden

Oliver Bengough, the founder of Koko, has taken sole ownership of the north London venue with the purchase of the remaining 50% of shares in owner/operator Obar Camden Holdings Limited (OCHL).

The 1,410-capacity venue – known as the Camden Palace until 2004, when it was purchased and refurbished by Bengough and his Mint Group company – was previously owned 50% by Bengough and 50% by Loton Corp.

As of 30 November, Bengough personally owns 100% of OCHL, following Mint Group’s pulling out of Koko in May.

“This marks a great day for the company and for the future of Koko,” he comments. “The well-being and continued success of this iconic live venue is now secured.”

“This marks a great day for the company and for the future of Koko”

Loton Corp is the parent company of live-streaming service LiveXLive, which in July acquired EDM ticket agency Wantickets.

Artists who have performed at Koko in its current iteration include Prince, Coldplay, Oasis and Amy Winehouse, while The Rolling Stones famously appeared at the then-Camden Theatre in 1964.

Koko posted a 2.4% increase in turnover in the last financial year (31 March 2015–31 March 2016), with an EBITDA (earnings before interest, taxes, depreciation and amortisation) increase of 7.2%.

 


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