Company also planning to spin-out its PPV business as separate public company
LiveXLive has announced that it plans to change its name to LiveOne, Inc. as part of an overall rebranding of the company and its business units. The company is a global media livestream and on-demand platform that also owns PodcastOne, Slacker Radio,React Presents and Custom Personalization Solutions. LiveXLive expects to change its NASDAQ stock symbol to “LVO” in the coming weeks. This is all subject to obtaining applicable approvals and consents.
Separately, LiveXLive has also announced its intention to spin-out its existing pay-per-view business as a separate public company and its plan to distribute a portion of the new company’s equity to LiveXLive’s stockholders, anticipated to take place by March 31, 2022, in each case subject to obtaining applicable approvals and consents and compliance with applicable rules and regulations and public market trading and listing requirements.
Upon the rebranding approval, PodcastOne will remain unchanged, but Slacker will become SlackerOne, React Presents becomes ReactOne, its original content business will become StudioOne with its merchandising brand, CPS, becoming PersonalizedMerchOne. The PPV business is anticipated to be spun out as a separate public company and will be branded as PPVOne.
LiveOne builds upon the brand heritage created by the founder of Westwood One and PodcastOne, which was acquired by LiveXLive in July 2020.
The new LiveOne name captures the core of the brand’s mission to be the one-stop platform for talent and fans alike for music, sports, esports, social media influence, lifestyle, podcasting, merchandise, publishing and technology. The combination of acquisitions and the expansion of products and franchises has facilitated LiveXLive in becoming a top-rated music, entertainment and media services company.
LiveXLive made history in 2021 with the launch of the first-ever NFT music festival poster for its global streaming event Music Lives, and again, as the first-ever PPV event to offer an NFT with every PPV livestream purchase of Social Gloves: Battle of the Platforms. Over the last 12 months, LiveXLive has livestreamed 146 live music events and 1,781 artists across the LivexLive platform, generating over 149 million live views. Engagements within LiveXLive’s social media channels experienced a triple-digit increase this past year with total engagements up over 20% and average engagements per post up 25%. PodcastOne had over 2.38 billion podcast downloads of its franchise of exclusive shows including The Adam Carolla Show, Off The Vine with Kaitlyn Bristowe, Bad Bad Things, The Jordan Harbinger Show, Mea Culpa with Michael Cohen, The Cray Final Days on Earth, Uncut with Jay Cutler, Doug Ellin’s Hollywood Wayz and others, and now has more than 235 exclusive podcasts, producings more than 300 podcast episodes per week. Total social media reach across the exclusive PodcastOne talent roster now exceeds 282 million.