LiveXLive To Acquire Gramophone Media, Inc., An Artist and Brand Development Company

LOS ANGELES, May 28, 2021 /PRNewswire/ -- LiveXLive Media (Nasdaq: LIVX) ("LiveXLive"), a global platform for livestream and on-demand audio, video and podcast/vodcast content in music, comedy and pop culture, and owner of PodcastOne, Slacker Radio, React Presents and Custom Personalization Solutions, announced today that it has entered into a binding Letter of Intent (LOI) to acquire Gramophone Media, Inc., an artist and brand development company which comprises boutique agencies specializing in PR, music and technology, A&R, strategic marketing, brand positioning, graphic design, and social media management. The proposed acquisition is expected to close prior to the end of June 2021, subject to customary and other closing conditions. The acquisition is expected to be immediately accretive to earnings and add a new component to the Company's flywheel of complementary businesses.

Gramophone Media is an NYC-based agency specializing in Music Publicity. Known for its innovative work breaking international acts like K-pop sensations BTS & Monsta X, as well as its unique approach to PR & Artist Development in the U.S. Gramophone and its specialized divisions have a commitment to positively impact and influence the world of music and culture.  Current and past clients and platforms include: Tiffany Young, Melii, Lil Simz, San Holo, Steve Aoki, Jazz Cartier, Kiiara, Zhu, Tessa Violet, Tayla Parx, Jesse McCartney, Joshua Radin, KT Tunstall, Ani DiFranco, Randy Jackson, WIX, Amuse IO and many more.

The deal complements LiveXLive's online digital talent search platform, Self Made.  The acquisition will add to LiveXLive's flywheel business model - listen, watch, attend, engage and transact - by providing artists an end-to-end solution to develop and amplify their brand to audiences across LiveXLive's apps and social media platforms.

Robert Ellin, LiveXLive's Chairman and CEO, commented, "Gramophone Media is another outstanding addition to LiveXLive's complementary businesses. As an artist-first platform, LiveXLive continues to aggregate synergetic businesses as well as experienced professionals who are positioned to assist and collaborate with artists on attracting superfans, building long-term franchises in audio music, podcasting/vodcasting, OTT linear channels, NFTs, merchandise, PPV, and live streaming."

Gramophone Media's founder & President, Eshy Gazit, added, "We are super excited to join forces with LiveXLive and support the platform and its associated artists with all-encompassing PR services and development. The foundation of Gramophone media is supporting musicians of all levels to achieve notoriety and credibility. Together, we can really add value to all of LiveXLive offerings as well as bring new artists to the platform."

As part of the acquisition, Gramophone Media's team, including President, Founder and sole shareholder, Eshy Gazit, will remain with Gramophone Media after the closing of the deal, as well as Patrick Ermlich Co-founder and CMO. Gramophone Media will operate as a wholly owned subsidiary of LiveXLive.

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, and livestreaming. Its model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales, licensing, and ticketing. LiveXLive recently raised revenue guidance for its 2021 fiscal year based on strength in its core businesses.

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 1,800 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 2.25 billion downloads per year with 400+ episodes distributed per week across a stable of hundreds of top podcasts. For more information, visit www.livexlive.com and follow us on Facebook, Instagram, TikTok, Twitter at @livexlive, and YouTube.

Forward-Looking Statements

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, acquisition or transaction, the timing of the closing of such proposed event, 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 financing, acquisition or transaction will not occur or whether any such event will enhance shareholder value; 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 intent to repurchase shares of its common stock from time to time under its announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; 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 December 31, 2020, filed with the SEC on February 16, 2021, 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.

Press Contact:

LiveXLive

[email protected]

917.842.9653

LiveXLive IR Contact:

310.601.2505

[email protected]

SOURCE LiveXLive Media, Inc.

Related Links

https://www.livexlive.com/

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