LOS ANGELES, Nov. 19, 2020 /PRNewswire/ -- LiveXLive Media (NASDAQ: LIVX) ("LiveXLive"), a global platform for livestream and on-demand audio, video and podcast content in music, comedy, and pop culture, and owner of PodcastOne, Slacker Radio and React Presents, announced today that it will be forming a new division, LiveXLive Music Publishing. The new business vertical will be headed by music industry veteran David Schulhof as President and expands publishing into LiveXLive's artists first platform now offering live events, audio, livestreaming, pay-per-view, podcasts and merchandising.
Like all facets of LiveXLive, LiveXLive Music Publishing will be added to LiveXLive's Artist Ambassador Program providing revenue sharing to artists for all activations within the company's business construct, thus providing a one stop end-to-end music platform for artists. In addition LiveXLive will be distributing music and collecting publishing royalties from multiple demand side platform (DSP) destinations, such as Amazon Music, Pandora, SoundCloud, Spotify, Tidal, Tencent, TikTok, United Media Agency and more.
Schulhof joined LiveXLive last year in the role of Chief Development Officer. David was the co-founder and CEO of Evergreen Copyright Acquisitions, a global music publishing entity backed by private equity. There, he built one of the largest independent music companies in the world which was sold to KKR/BMG for $80 million which had a catalog of 65,000 songs, including tracks recorded by Tupac Shakur, MC Hammer, JJ Cale, Eric Clapton, Joe Cocker, Bill Monroe, Teddy Riley, Michael Jackson and many others. Before Evergreen David was VP of Motion Picture Music, Music Publishing and Soundtracks at Miramax and Dimension Films.
"LiveXLive Music Publishing is a natural extension of our brand and our artists first company ethos. Our platform is perfectly designed to maximize and monetize music publishing assets and generate incremental synch and performance revenue for writers, artists, and producers," said Robert Ellin, CEO and Chairman of LiveXLive. "As we launch linear channels, build original programming and continue to livestream music content around the world, this is a win for global songwriters. David is a perfect fit for our vision for growth."
Schulhof's career highlights include President of AGC Studios and prior to that he held the post of President of IM Global Music where he produced the award-winning music documentary The 'Soundtrack of Our Lives' highlighting the music industry icon Clive Davis, which is a worldwide hit, available on Netflix.
"I am thrilled about this new and extraordinary chapter in my career", stated Schulhof. "We are well positioned and capitalized to be strategic in acquiring music publishing assets, sign writers and producers, all supporting our artists first philosophy, a tentpole of the LiveXLive flywheel. The ability to build a new publishing entity within the context of a company that is so focused on the successes of artists in all facets of the music industry is a challenge I am ready to conquer. I am confident my 20+ years in publishing and venture capital will support the growth of LiveXLive and the new publishing division will bring us closer to artists, producers and the songwriting community allowing full service deals to be done within the music industry."
LiveXLive has the first talent-centric platform focused on superfans and building long-term franchises in on-demand audio and video, podcasting, vodcasting, OTT linear channels, pay-per-view ("PPV"), and livestreaming. Its model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales, licensing, and ticketing. So far in calendar year 2020, LiveXLive content has been viewed over 90 million times. From emerging to established artists, LiveXLive has streamed a variety of artists and celebrities in 2020 alone, including Billie Eilish, Kygo, Billy Joel, Bon Jovi, Chris Rock, Idina Menzel, Jennifer Lopez, Jimmy Buffett, OneRepublic, Zac Brown Band, Sofi Tukker, and Darius Rucker.
About LiveXLive Media, Inc.
Headquartered in Los Angeles, California, LiveXLive Media, Inc. (NASDAQ: LIVX) (the "Company") (pronounced Live "by" Live) is a global platform for livestream and on-demand audio, video and podcast content in music, comedy, and pop culture. LiveXLive, which has streamed over 1,400 artists since January 2020, has become a go-to partner for the world's top artists and celebrity voices as well as music festivals concerts, including Rock in Rio, EDC Las Vegas, and many others. In April 2020, LiveXLive produced its first 48-hour music festival called "Music Lives" with tremendous success as it earned over 50 million views and over 5 billion views for #musiclives on TikTok on 100+ performances. LiveXLive's library of global events, video-audio podcasts and original shows are also available on Amazon, Apple TV, Roku and Samsung TVs in addition to its own app, destination site and social channels. The Company's wholly-owned subsidiary, PodcastOne, generates more than 2.1 billion downloads annually across more than 300 podcasts. For more information, visit www.livexlive.com and follow us on Facebook, Instagram, TikTok, Twitter at @livexlive, and YouTube.
All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the Company's reliance on one key customer for a substantial percentage of its revenue; the Company's ability to consummate any proposed financing or acquisition and the timing of the closing of such proposed transactions, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of any proposed transaction will not occur; the Company's ability to continue as a going concern; the Company's ability to attract, maintain and increase the number of its users and paid subscribers; the Company identifying, acquiring, securing and developing content; the Company's ability to maintain compliance with certain financial and other covenants; the Company successfully implementing its growth strategy, including relating to its technology platforms and applications; management's relationships with industry stakeholders; the effects of the global Covid-19 pandemic; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company's subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2020, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 26, 2020, Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed with the SEC on November 16, 2020, and in the Company's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
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