Los Angeles-based livestream and on-demand content platform LiveXLive Media is changing its name to LiveOne, Inc. as part of an overall rebranding of the company and its business units, subject to obtaining applicable approvals and consents.
The NASDAQ-traded company expects to change its stock symbol to LVO in the coming weeks.
Separately, LiveXLive has also announced its intention to spin-out its existing pay-per-view business as a separate public company and its plan to distribute a portion of the new company’s equity to LiveXLive’s stockholders, anticipated to take place by March 31, 2022.
This plan is also subject to obtaining applicable approvals and consents and compliance with applicable rules and regulations and public market trading and listing requirements.
LiveXLive recently announced its thirteenth consecutive quarter of record revenue.
The company’s Slacker Radio subsidiary currently has more than 1.2 million paid subscribers, and since launching its PPV platform with events for Monsta X, WonHo, Darius Rucker, Pitbull, Trey Songz, Modern Drummer Festival, among many others, LiveXLive has generated approximately $21 million in PPV sales of packages, sponsorships, production, and merchandise sales in the current calendar year.
Over the last 12 months, LiveXLive has livestreamed 146 live music events and 1,781 artists across the LivexLive platform, generating over 149 million live views.
Meanwhile, LiveXLive reports that engagements within its social media channels experienced a triple-digit increase this past year with total engagements up over 20% and average engagements per post up 25%.
LiveXLive’s podcasting business PodcastOne had over 2.38 billion podcast downloads of its franchise of exclusive shows including The Adam Carolla Show, Off The Vine with Kaitlyn Bristowe, Bad Bad Things, The Jordan Harbinger Show, Mea Culpa with Michael Cohen, The Cray Final Days on Earth, Uncut with Jay Cutler, Doug Ellin’s Hollywood Wayz and others.
PodcastOne has more than 235 exclusive podcasts, producings more than 300 podcast episodes per week. Total social media reach across the exclusive PodcastOne talent roster now exceeds 282 million.
As part of LiveXLive’s plans to rebrand its businesses as the ONE brand, LiveXLive plans to rebrand its individual subsidiaries and businesses as follows:
- LiveXLive’s podcasting business, PodcastOne, will remain branded as PodcastOne
- LiveXLive’s music subscription business, Slacker, will be branded as “SlackerOne”
- LiveXLive’s pay-per-view business is anticipated to be spun out as a separate public company and will be branded as “PPVOne”
- LiveXLive’s live music business, React Presents, will be branded as “ReactOne”
- LiveXLive’s merchandising business, CPS, will be branded as “PersonalizedMerchOne”
- LiveXLive’s original content business will be branded as “StudioOne”
“We are excited to announce a rebranding of LiveXLive that reflects the evolution of our company, its accelerated growth, and our vision for the future as ‘ONE’ brand.”
Robert Ellin, LiveXLive
Commenting on the announcement, LiveXLive’s Chairman and CEO, Robert Ellin, said: “We are excited to announce a rebranding of LiveXLive that reflects the evolution of our company, its accelerated growth, and our vision for the future as ‘ONE’ brand.
“Our new LiveONE name and the associated business unit brands of ‘ONE’ will further pull together our flywheel business model and collectively become synonymous with our mission to be the ‘ONE’ leading end-to-end talent-first platform creating, producing, monetizing, marketing, and distributing premium audio and video content across all genres and distribution outlets.”
LiveXLive Media recently inked a multi-year deal with artist merchandise firm Merchbar.
In June, LiveXLive Media entered into a binding Letter of Intent (LOI) to acquire artist and brand development company, Gramophone Media, Inc, founded by Eshy Gazit.Music Business Worldwide