The deal was done debt free and comes with approximately $5.2 million in working capital. They offer 235 shows and produce over 350 podcast episodes per week.ĬPS Acquisition Helps Expand Social Media FootprintĬustom Personalized Solutions (CPS) is an eCommerce platform that generated $20 million in revenue in 2020 prior to the LIVX acquisition. Widely regarded as a premier music distributor, LIVX diversified their offering in 2020 with the acquisition of PodcastOne, a company that grossed $27.5 million on its own in 2019. PodcastOne Adds another Dimension and New Listeners
Slacker Radio and React will be streaming these shows live. Obviously, live music was limited during the Covid-19 pandemic, but 79% of fans are expected to fill theatres and concert venues within a few months after restrictions have been lifted. In 2020, LIVX launched curated live playlists from integrated partner React Presents, which produces over 300 shows per year. Ranked as the best quality music app and Editor's Choice by PC Magazine, one of the keys to success in 2021 is their listeners' desire for live music. With an ever-increasing hunger for subscription music, those numbers are expected to increase this year. They had over two billion audio listens in 2020, 63 billion since their inception. Music Content Distribution with LiveXLive Slacker RadioĮvery great product or service needs a delivery mechanism. PodcastOne was acquired in July, Custom Personalized Solutions (CPS) in December. All of this occurred after two major acquisitions in 2020. Shareholder equity increased by $23.5 million, and cash was increased from $5.2 million to $17.6 million during the quarter. The total projected revenue for fiscal 2021 is expected to be between $64 million and $69.5 million. Revenue for the quarter increased 96.9% YOY to $19.1 million. On February 11 th, LIVX released a report that showed record growth for an eleventh consecutive quarter.
The goal is to reach the ten million mark by 2030, when the total available market (TAM) for music subscribers is estimated to be $1.2 billion. March 31, 2021) - PCG Digital - With over one million subscribers entering 2021, LiveXLive (NASDAQ: LIVX) is employing a multi-channel approach to accelerate their growth.
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