LiveXLive Builds on Its Previous Success in Hip-Hop with Worldwide Content and Distribution Deal
WEST HOLLYWOOD, Calif., Sept. 5, 2018 /PRNewswire/ -- LiveXLive Media, Inc. (LIVX) ("LiveXLive"), a global digital media company focused on live entertainment, announced today that it has signed an exclusive global distribution and livestream content agreement with the Rolling Loud Festival for its upcoming 2018 Bay Area and Los Angeles Rolling Loud-branded Festivals. In addition to having the rights to livestream these festivals, certain original content related to these festivals will be produced and distributed by LiveXLive, expanding its long-standing commitment to -- and success in -- the genre.
Created by Tariq Cherif and Matt Zingler, Rolling Loud started as a one day festival in Miami and has since expanded to a multi-day event organized in at least three major markets. Only three years after its inception, Billboard wrote that the Rolling Loud Festival had "earned the crown as the premier hip-hop festival in the country."
"Rolling Loud is an exciting addition to our festival portfolio," said Rob Ellin, the Chairman and CEO of LiveXLive. "Hip-hop has become the most-streamed genre of music, and with Rolling Loud, LiveXLive will provide a livestreaming element at a scale that has never before been accessible to fans. We've had significant success with streaming artists including Travis Scott, Chance the Rapper, T-Pain, and others, and our partnership with Rolling Loud reaffirms our commitment to bring the biggest names and hottest new artists in hip-hop to a global audience. Tariq and Matt have created a festival that has garnered tremendous acclaim and delivered explosive year-over-year growth, and we're thrilled that our audience can now experience it from the best seat in the house, anywhere in world."
"We are ecstatic about expanding the reach of this year's Rolling Loud Bay Area and Los Angeles Festivals beyond the festival grounds through LiveXLive's and Rolling Loud's media platforms and giving the world an opportunity to witness first-hand the high-energy performances that make Rolling Loud Festival one of the world's premier hip-hop music festival experiences," said Brian Oliver, General Counsel and Director of Legal & Business Affairs of Rolling Loud.
LiveXLive's stated goal is to become the leading producer and distributor of live music content. The company plans to stream more than 27 music festivals and concerts across the globe with over 350 hours of live content during its 2019 fiscal year. The addition of the 2018 Rolling Loud Festival Bay Area and Los Angeles editions tracks significant progress toward LiveXLive's objective.
About LiveXLive Media, Inc.
LiveXLive Media, Inc. (NASDAQ: LIVX) (the "Company") is a global digital media company focused on live entertainment. The Company operates LiveXLive, one of the industry's leading live music streaming platforms; Slacker Radio, a streaming music pioneer; and also produces original music-related content. LiveXLive is the first 'live social music network', delivering premium livestreams, digital audio and on-demand music experiences from the world's top music festivals and concerts, including Rock in Rio, EDC Las Vegas, Hangout Music Festival, and many more. LiveXLive also gives audiences access to premium original content, artist exclusives and industry interviews. Through its owned and operated Internet radio service, Slacker Radio (www.slacker.com), LiveXLive delivers its users access to millions of songs and hundreds of expert-curated stations. The Company also operates a social influencer network, LiveXLive Influencers. The Company is headquartered in West Hollywood, CA. For more information, visit us at www.livexlive.com and follow us on Facebook, Instagram and Twitter at @livexlive.
About Rolling Loud
Rolling Loud Festival is one of rap's premier music festival experiences and the largest hip-hop festival brand in the world. The festival was the brainchild of co-founders Tariq Cherif and Matthew Zingler, who began organizing hip-hop shows throughout the State of Florida in 2010. The two created Rolling Loud Festival in 2015 as a one-day festival for 6,000 attendees. Four years later, the festival's Miami chapter has expanded into a successful three-day event, drawing nearly 180,000 attendees to Miami Gardens, Florida over the festival weekend in May of 2018, with the Festival expanding worldwide, arriving in the Bay Area on September 15-16, 2018 at Oakland Coliseum in Oakland, California and in Los Angeles on December 14-15, 2018 at a soon-to-be-announced venue located in downtown Los Angeles.
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. These factors include uncertainties as to identifying, acquiring, securing and developing content, ability to attract and retain users, ability to maintain compliance with certain financial and other covenants, successfully implementing the Company's and Slacker's growth strategy, including relating to their technology platforms and applications, management's relationships with industry stakeholders, changes in economic conditions, competition, and other risks including, but not limited to, those described from in the Company's 2018 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on June 29, 2018, the Company's Quarterly Report on Form 10-Q filed with the SEC on August 20, 2018 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.
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