LiveXLive Media, a global digital media company dedicated to live entertainment, announced its revenue for the fourth quarter and fiscal year, 2019.
LiveXLive posted record revenue of $33.7 million for Fiscal Year 2019, up 368% year-over-year. In Q4/2019, LiveXLive recorded revenue of $9.2 million versus $7.1 million in Q4 2018, and a contribution margin of $2.2 million. The increase was largely due to the growth in subscription revenue, and to a lesser extent from advertising and licensing. In Q4/2019 paid subscribers increased 52%, or a net 233,000 subscribers, year-over-year from Q4/2018, ending Q4 2019 with over 680,000 paid subscribers as compared to 447,000 subscribers at March 31, 2018.
In Q3/2019 LiveXLive recorded revenue of $9.0 million and a contribution margin of $1.4 million, driven by strong subscriber growth. The company recorded a loss of $8.5 million from operations and a net loss of $9.7 million in Q4 2019.
Live Events in Q4/2019
To enhance company growth, 5 events were live-streamed and produced in the same quarter. Also, it was coupled with ongoing operating investments made in Q4/2019. Meanwhile, non-cash depreciation, amortization and stock compensation and non-recurring expenses of $6.6 million in that period was noted.
Q4/2019 festival and event livestreams included ALTerEGO (Los Angeles, CA), EDC Mexico (Mexico City, Mexico), LiveXLive Presents after the Grammys (Los Angeles, CA), LiveXLive Presents at CES Las Vegas (Las Vegas, NV), and Weezer Album Release Party (iHeartRadio Theater, New York, NY).
Excluding these non-cash and non-recurring expenses, Q4 2019 Adjusted Operating Loss (AOL) was $1.9 million. Compared to AOL of $2.4 million in Q4 2018 and $2.6 million in Q3 2019.
“We executed in fiscal 2019, delivering record financial performance each quarter and growing our paid subscriber base over 50% year over year, which today surpassed 720,000 paid subscribers. In addition, we also drove record growth across active users, total livestream views and number of live festivals streamed,” said Robert Ellin, CEO and Chairman of LiveXLive.
LiveXLive recently also signed a partnership distribution agreement with Sinclair Broadcasting Group’s OTT channel, STIRR to stream EDC Las Vegas. They have also taken onto distribution by signing an agreement with Tencent Video to livestream EDC Las Vegas in China.
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