LiveXLive finished 2019 with a leap in new users coming to stream from their live music based library of content.
The live music and entertainment company have revealed an end-of-year report that shows a strong 2019. In a year in which they partnered with iHeartRadio to expand their offerings they also gained 140,000 paid subscribers.
As of December 31st, 2019 LiveXLive reportedly had 1.2 million monthly active users, 820,000 of which are paid subscribers. Their users came to them for 28 musical festivals and events live streamed, as well as over 275 hours of programming with more than 230 artists in 2019.
They have gained 17.6% of their monthly active users as they had at the end of the year 2018. For the year they had over 63 million views on their livestreams of the big live music entertainment that they stream.
LiveXLive Chairman and CEO, Robert Ellin stated: “LiveXLive closed out its first nine months with significant momentum and achieving new milestones, as well as focusing on key hires to continue driving growth.
“We are looking forward to reporting full financial results for Q3 2020 in early February and have a number of exciting live events coming up, including livestreaming Selena Gomez’s new album release party, as well as performances from the most popular artists today, including French Montana, Coldplay, Billie Eilish, The Black Keys, and The Lumineers, and the 2020 iHeartRadio Podcast Awards.”
In August we reported on news that whilst LiveXLive was seeing substantial growth in their paying subscribers, their profits weren’t growing to match. They reported an operating loss of $10.3 million in the first quarter of the 2019 fiscal year.