LiveXLive Acquires Custom Personalization Solutions From E-Commerce Goods Company; CPS had sales of approximately $ 19 million in 2019

LOS ANGELES, Oct 28, 2020 / PRNewswire / – LiveXLive Media, Inc. (Nasdaq: LIVX) (“LiveXLive”), a global platform for live stream and on-demand audio, video and podcast content in the fields of music, comedy and pop culture and owner of PodcastOne, announced today that it has signed a binding letter of intent to acquire 100% of the membership of Custom Personalization Solutions, LLC (“CPS”) in an all-stock deal.

The transaction is valued up to $ 6 million, subject to an adjustment in working capital. The planned takeover is expected to be completed shortly December 31, 2020, subject to customary and different closing conditions.

Founded in 2012 and headquartered in Addison, IL, CPS is a group of rapidly growing web-oriented companies specializing in the commodity personalization industry. Owned and managed by world class partners with a combined 50 years of personalization experience, CPS has brought together its “dream team” of innovators and designers to create a range of personalized goods that is unique in the market. CPS currently has over 70 full-time employees.

With the proposed acquisition, LiveXLive will work with the music and entertainment industries as well as high-reach stars in social media and marketing to create and distribute unique and limited edition personalized clothing, jewelry, toys and virtual goods. The digital and physical distribution of goods is mainly online, but also includes numerous big box retailers such as Walmart, which opens up further advertising and marketing opportunities for LiveXLive and its partners.

“The worldwide market for licensed articles is expected $ 400 billion through 2023. This acquisition provides LiveXLive with an immense opportunity to leverage its audience, platform, and artist and entertainment industry relationships to add commercial and specialist consumer goods revenue to our music stack and advance the transactional components of our flywheel business model, “said Robert Ellin, CEO and Chairman of LiveXLive. “By integrating social commerce into our live and original content, we want to fulfill the dreams of superfans with personalized merchandise from their favorite artists and shows directly to consumers.”

“The worlds of custom merchandise, real-time fulfillment and social commerce powered by celebrities and influencers have created a perfect storm. LiveXLive is the perfect partner for us to take advantage of this next wave,” said Scott Norman, CEO of CPS.

LiveXLive’s operational performance and consumer reach show impressive growth in virtually all key performance metrics. The company continues to promote compelling original content, including pay-per-view (“PPV”) events, new artist-focused formats and tentpoles, such as LiveXLive’s recently announced The Lockdown Awards, on both LiveXLive and PodcastOne. The opportunity is expanding to monetize the company’s content multiple times and in a variety of ways across numerous platforms including wireless carriers, automobiles, and OTT.

LiveXLive has the first talent-driven platform focused on superfans and building long-term franchises in audio music, podcasting, linear OTT channels, PPV and live streaming. The model encompasses multiple monetization paths including subscription, advertising, sponsorship, merchandising sales, licensing, and ticketing. The company’s wholly owned subsidiary, PodcastOne, generates more than 2 billion downloads of more than 300 podcasts annually. LiveXLive recently raised its revenue forecast for fiscal year 2021 due to the strength in its core businesses.

About LiveXLive Media, Inc.
Headquarters in Los Angeles, California, LiveXLive Media, Inc. (NASDAQ: LIVX) (the “Company”) (pronounced Live “from” Live) is a global platform for live streaming and on-demand audio, video and podcast content in the fields of music, Comedy and pop culture. LiveXLive has streamed over 1,400 artists since then January 2020 and has become a preferred partner for the world’s top artists and celebrities, as well as for concerts at music festivals, 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, generating over 50 million views and over 5 billion views for #musiclives on TikTok in more than 100 performances. The LiveXLive library with global events, video-audio podcasts and original broadcasts is available on Amazon, Apple TV, Roku and Samsung TVs in addition to its own app, landing page and social channels. The company’s wholly owned subsidiary, PodcastOne, generates more than 2.1 billion downloads annually in more than 300 podcasts. For more information, visit www.livexlive.com and keep following us Facebook, Instagram, Tick ​​tock, Twitter at @livexlive and Youtube.

Forward-Looking Statements
All statements contained in this press release that are not historical facts are “forward-looking statements” which often, but not always, result from the use of words such as “may”, “could”, “will”, “likely”, “Would”, “should”, “estimate”, “plan”, “project”, “forecast”, “intend”, “expect”, “foresee”, “believe”, “strive for”, “continue”, “aim” “or the negation of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in such statements, including: the company’s reliance on a material customer for a material Percentage of its sales; the Company’s ability to complete a proposed financing or acquisition and the timing of any such proposed transaction, including the risks that a condition for completion will not be met within the expected timeframe or at all, or that the completion of a proposed transaction will not occur; the company’s ability to continue operating; the company’s ability to attract, retain and increase the number of its users and paying subscribers; the company identifies, acquires, secures and develops content; the company’s ability to meet certain financial and other obligations; the company is successfully executing its growth strategy, including in relation to its technology platforms and applications; Management relationships with industry stakeholders; the impact of the global Covid-19 pandemic; Changes in economic conditions; Competition; Risks and uncertainties affecting the business 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 past fiscal year March 31, 2020, filed with the US Securities and Exchange Commission (the “SEC”) on June 26, 2020, Quarterly report on Form 10-Q for the past quarter June 30, 2020, filed with the SEC on August 14, 2020, as well as in the company’s other filings and filings with the SEC. These forward-looking statements speak for the date only and the company disclaims any obligation to update these statements unless 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.

For more informations:
LiveXLive contact
The group of roses
[email protected]
[email protected]

IR contact:
310.529.2500
[email protected]

SOURCE LiveXLive Media, Inc.

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