LiveXLive App Sees Record Revenue Growth in Q1

LiveXLive Media, a leading global platform for live stream and on-demand audio, video, and podcast/vodcast content, has announced record revenue and contribution margin for its first fiscal quarter ended January 12, 2022. The company's diversified revenue streams have played a significant role in this success.

According to LiveXLive's CEO and Chairman, Robert Ellin, the company's strategic plan has been successful in reducing its concentration of subscription revenue over the past year. In Q1 Fiscal 2022, subscription revenue accounted for only 23% of the company's total revenue, down from 84% in the previous year.

Ellin attributes the growth to an improving backdrop for all of the company's business verticals. On a non-GAAP basis, Adjusted Operating Loss (AOL) increased to ($1.8) million in Q1 Fiscal 2022, compared to ($0.1) million in Q1 Fiscal 2021. The company also recorded a loss from operations of ($10.0) million and a net loss of ($8.1) million on a GAAP basis.

The growth was driven by significant increases in advertising, merchandising, pay-per-view (PPV), and sponsorship revenue. In fact, the company posted record revenue of $38.8 million in Q1 Fiscal 2022, accompanied by a record contribution margin of $7.8 million.

LiveXLive's CEO expressed confidence in the company's future prospects, stating that they expect an increase in revenue from nearly every aspect of their flywheel – subscriptions, live ticket sales, livestream, pay-per-view, advertising, sponsorship, NFTs, and specialty merchandise – with the return of live music events.

Overall, LiveXLive's impressive Q1 results demonstrate the company's ability to diversify its revenue streams and adapt to changing market conditions. With its diversified portfolio of businesses, including PodcastOne, Slacker Radio, React Presents, and Custom Personalization Solutions (CPS), LiveXLive is well-positioned for continued growth and success in the future.

The LiveXLive app has become a go-to destination for fans of music, comedy, and pop culture, offering a wide range of live stream and on-demand content. With its innovative approach to monetizing digital content, LiveXLive continues to set itself apart from other players in the industry.

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