LiveXLive Media (LIVX) Reports Q2 Loss of $0.20, Revenues Miss; Lifts FY19 Revenue Guidance Above Consensus

LiveXLive Media (NASDAQ: LIVX) reported Q2 EPS of ($0.20), versus ($0.11) reported last year. Revenue for the quarter came in at $7.97 million versus the consensus estimate of $8.33 million.

• Achieved over 40M livestreams, 350 artist streams on the company\'s platform, and 285 hours of live music festival content streamed YTD through today.
• Ended Q2 with paid subscriber base growth of 12% quarter over quarter to 549,000; paid subscribers over 585,000 as of today.
• Partnered with several new festival owners in Q2 including a multi-festival deal with one of the top hip-hop festivals, Rolling Loud (Bay Area and Los Angeles), and long-term digital rights deal with Life is Beautiful (Las Vegas, NV).
• Expanded digital distribution with the launch of LiveXLive livestream across new media platform properties including YouTube, Facebook Live, Twitter and Daily Motion.
• Signed partnership between Slacker Radio and Heard Well, launching a Social Media Influencer Station with a combined social reach of 500 million people.
• Presented at the Interactive Advertising Bureau\'s NewFronts presentation in Los Angeles, California.
• Launched "Woman Crush Everyday" (#WCE) country station on Slacker Radio, introducing and elevating female country artists and promoting gender equality in the music industry.
• Expanded the management team with key hires of Mathew Baxter as Head of Content and Tad Ro as Head of Product, who have each led content and product initiatives for billion dollar plus companies.

GUIDANCE:

LiveXLive Media sees FY2019 revenue of $37.5-45 million, versus the consensus of $37.27 million.

For earnings history and earnings-related data on LiveXLive Media (LIVX) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Reading (RDI) Tops Q2 EPS by 4c
• Newton Golf Company (NWTG) Reports Q2 Loss of $0.49