Actual results may differ materially from those discussed on this call for a variety of reasons. These statements include, but are not limited to, statements regarding the future performance of the company, including expected future results and future growth in the business. I would like to remind you that some of the statements made on today's call are forward-looking and are based on current expectations, forecasts and assumptions that involve various risks and uncertainties. Joining me on today's call are Rob Ellin, CEO and Chairman Norm Pattiz, Founder and Executive Chairman of PodcastOne Mike Zemetra, CFO and Dermot McCormack, President. Good morning, and welcome to LiveXLive Media's Business Update and Financial Results Conference Call for the company's first quarter ended June 30, 2020.
I'd now like to hand the conference over to your speaker today, Emily Greenstein, Investor Relations. Ladies and gentlemen, thank you for standing by, and welcome to the LiveXLive Media Q1 2021 Earnings Conference Call. (LIVX) Q1 2021 Earnings Conference Call Aug8:30 AM ET Meanwhile, it has also recently combined its two businesses in one app, where people will be able to stream audio from Slacker and video from LiveXLive’s festival partners.Livexlive Media, Inc. On that front, LiveXLive says that it now has more than 740,000 paying subscribers, with its paid subs growing 50% year-on-year last quarter. LiveXLive recently sold 5m of its shares to raise $10.5m, but its directors outlined its future challenge in the financials: “While management believes it has sufficient sources of liquidity to fund its operations over the next twelve months, these factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date that these financial statements are filed.”Īs we’ve covered before, LiveXLive’s business is partly focused on live-streaming festivals and other music events, and partly on the Slacker Radio music-streaming service that it acquired in 2017.
LiveXLive’s cost of sales, at $9m, accounts for nearly 95% of the company’s revenues, and that’s before sales and marketing, product development and other costs are factored in. However, the company’s net losses also widened slightly, from $10.8m a year ago to just under $11m last quarter. US digital music company LiveXLive has published its latest financial results, which show that its revenues grew by 25.1% year-on-year to $9.5m in the second quarter of 2019. Tags: Financials Live Livestreaming LiveXLive
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