LIVX - Earnings call transcript Q4 2021

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Operator

Good afternoon, and welcome to the LiveXLive Media Fourth Quarter 2021 Business Update Call. All participants will be in listen-only mode. [Operator Instructions]. After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions]. is event this note, being recorded. Please now Michael Quartieri, would like Chief to to over conference the Executive Officer. turn Financial I Vice and President ahead. go Please

Michael Quartieri

filings. future call cause the annual in on materially information the company's XX-Q on in of statements, this described including XX-K actual including SEC its quarter Thank today ended quarter that report Chairman; Quartieri, would the the company, are these These I involve the for like and and expectations, Officer. business differ fiscal the refer some Financial limited LiveXLive CEO you for variety could year XX, company's call filings Actual and of conference you. and statements about and results SEC to made performance from results remind business. growth forward-looking with XX, welcome forecasts, Chief not and call those future are the for based and to, from XXXX, differ the the materially for today's on and uncertainties. Executive and 'XX. but are XXXX, March various risks March for Presenting reasons. subsequent of year Ellin, that call forward-looking fourth Form financial ended statements regarding to Mike results Form statements the quarterly may report expected current Vice Good which include, to Media’s company's and expected the are Please assumptions ended and on on on the factors President future afternoon, discussed XX, a myself, those results update December to Rob

The financial measures XXXX; information the is responses on measures for contains its Relations to most periodically reconciliations to at including this as required company of is after find does I'd in highlight the the will GAAP law, website available Investor of content. call. replay and discussion, or any its webcast, to and like following company XX, undertake information time-sensitive visit financial the be website which date to company's and recorded. the posted revise will update release, your conclusion encourages the ir.livexlive.com, a earnings call. call the by views you important investors making You in except the available on and it Relations reflects Investor of discussed this the this investors media the to as to the not of today comparable The questions, shortly and being obligation its is management's company following June date IR of that website section call, via to non-GAAP

of property any the call without consent the expressed the in is strictly written is of redistribution, the or webcast company retransmission rebroadcast or the and it Additionally, any prohibited. form

Now, LiveXLive Ellin. Rob let turn me the CEO, call over to

Robert Ellin

so Mike, quarter joining you thank much. for year-end Good and you thank business afternoon, fiscal fourth us for update. our today and

subscription acquisitions live business units stayed over remote our We X.X music the offering. make and announce I'm media audio our flywheel. XXX We’ve dealing of platform and video, offer learning approximately to we’ve course, has our and completed we radio exponentially LiveXLive, XX million opportunistic the the no from the stations, XXX all home, festivals. and includes music, of past that X expanded very and ultimate But for future. integration been For songs, month, or for true Today, made curated experience, the content events of plus with year. the $X.XX major that meant events the for world up successfully back near COVID the all and video a audio limited original us, proud under working all newsroom, challenging past around lock-ins in vodcast, coming live roughly biggest very almost and podcast important interactions, of schools, most social X,XXX over no years the of content, of live

from devices. many Through billion During John XXXX, Taylor as engagements. far Lady was top the brought in mobile genres away X live Gaga, we of leader streaming Legend, X,XXX their Stones, and artists, private the BTS, world's and XXX music to the world Billie over platform, via a studios fans across streaming, devices, performances the and XXX rooms live around pandemic, and artists LiveXLive we music music of Eilish, live wireless all XXXX and March live March staggering their of generating between streamed events the homes, Swift, LiveXLive views, the Rolling live living million

talent-first LiveXLive, business events. focused of live platform and very most live environment For of important, provide for We and superfans. artists is into tipping appears a and numerous we opportunities, development, evolved This our the and COVID monetization is maturation up, LiveXLive means artists actually finally connecting music on built. including recognition accelerated brand opening and good merchandise, Thankfully, has return business the U.S. news LiveXLive. with the it NFTs. that created leading pay-per-view, what by with the grown

a sustainable, music, franchise video valuable We in and long-term, streaming podcasting, on demand. audio, live pay-per-view, building vodcasting, are OTT,

team XX-hour The and super through management Custom channel live synergistic merchandise, Our a streaming, franchise radio, focused is a most podcasting, month. people the around a subscription over was Board XXX linear of acquisitions, grow, of that LiveXLive, in million world-class a complementary growing work Slacker created PodcastOne, fashion on OTT flywheel content Solutions, businesses app, we deliver and roster distribution original LiveXLive through reaches Personalization distributed in LiveXLive’s together foundation that continues countries. Largely to and that of reaching wholly-owned have platform to a fans. talent-centric XXX built

report XXX% for nearly year fiscal million margin. our income operating to described, to million As all adjusted a of consecutive March raise in with once in business see the I'm verticals, revenue our the can our $XX current transact. we to million, engage, attend, we $XXX million our excited momentum listen, with XXth record to XX, audience quarter, $XX quarter the increase given fourth XXXX, $X ended million. we're And increased watch, guidance to pleased of that $XXX again XXX% along contribution to

We working to million fiscal as $XX.X also balance increased have increased equity capital and to our XX.X% compared as -- sheet XXXX by a meaningful improvement shareholder $XX.X million.

of over this the the largest As at in past million. June XX, cash our company position Friday, history of $XX

us of finally, sponsorship. derisked acquisition the component PodcastOne a of growth acquisition Over news in merchandise by Earlier, and the the pent-up music venues]. with Solutions significant on LiveXLive of sponsored there addition months, is gives streams ability return live as the new of have our [We're very good of world diversifying talent of business of I Custom the own XX to we demand for is launch substantial the the the as advertising for with the live revenue past Personalization and mentioned entering result revenue of a pay-per-view, And our conjunction platform. internal our music. the

return many will and XX largest report, first Xrd. merchandise. live an happy of from flywheel. October With revenues And of we is back, year live X sold events, The Midwest's are in still electronic nearly NFTs, festival, our others. advertising, live Awakening aspect the quantities the dance to is increase event I'm expect event and general Festival admission biggest limited VIP, scheduled our of Spring its Live sponsorship, available. return of trophy efficiently specialty to Xnd every tickets music The feature of in Diplo in stream, sales, imminent music music, which artists pay-per-views, only Chicago, has and ticket Tier including

with distribution is Next America Verizon, the Tesla partners up, the business an globe, and over default LiveXLive expansion for to those subscription by revenue previously and number for for and see Through automakers. event carriers, LiveXLive that I is exclusive of preinstalled streams we BXB to opportunity Spring Through mentioned T-Mobile. Sprint and including paid the and subscriptions. around numerous the is subscription LiveXLive subscribers. paid become to LiveXLive car app live XXXX opportunity able we every of Slacker other automobiles significant have Europe radio million in grow times, subscribers compete significant importance into been Cancun. Awakening, bring The pre-installed with our X.X arrangement, to is in announcement across paid in major our Tesla Of for sold Tesla. in XX partnership growing directly expand European a default

been sponsored diversified of PodcastOne complements offering also call we adding adding by labels continuing expanding in a this significant July [XXXX] our and content and our with for is in fully improved slack advertising be quickly. content able video, The the and of music further PodcastOne podcast, music alongside revenue licensed to model our by our has subscriptions. style vodcast additional which expand month component and has LiveXLive. whole We acquisition XXXX. of expect quarter Our licenses to of video and

We grown sales more week. team, created PodcastOne's the shown over team. exclusive Norm episodes now and shows Pattiz, podcast Westwood produces XXX than which and downloads team, had sales its advertising world-class in more has podcast of X.XX tripled also fiscal PodcastOne overall our added headcount billion and XXXX per franchise including than of who their One and more -- XXX

stream our Battle events, over of packages, pay-per-view billion We live recently merchandise now delivered Social With -- in I'm impressions, sponsorship, the inaugural in which $XX the the social Gloves, to history. platform say generated LiveXLive Stack event and has X.X live flawlessly. approach a distributed in launch Tech first largest produced pay-per-view the proud live pay-per-view year event the of sales. over Platforms, million

now of of preeminent upfront Social pay-per-view content of for over bar platform, talent platform. and XXX-degree of that incorporating million LiveXLive services. Our sales, Rock and pay curation, $X our proved and quality can We've NFT and The quality crossed production live today merchandise, security production, provide have in a is Hard and and monetarily. live the including outstanding paid stream million Glove's for of from delivered and product the money, the suite per sponsored, We delivering management in delivering raises of NFT in view. believe in that venues, LiveXLive Social producer for stream full stadium events. Live the we $X event I production, over event Gloves cash

to have stream In fact, for events all owners conversation we live of culture, the manage business there's e-sports. pop events, opportunity with and music, across on produce based believe sports, a LiveXLive meaningful we

positioned their are opportunity new drive media as and them. CPS social is think and With we flywheel. revenue stars to to add to this revenues in conjunction for company e-sport December, immense audience, platform unit our partner product consumer a the in We our acquisition e-commerce stars, audits, talent, products of to with own component specialized leverage brand stars, distribution of an talent streams our sports merchandise with

speak like programming. would significant investment commitment our and I about original to Lastly, to

king and amounts become time Kong. Now again any outlets, our distribution need in There's media more has than which enormous King content. XX years, past content the once of

XX which talent additions who SportsCenter music presents we us Music Made, including past franchise forward These Our of has Lockdown, called forward, These and chance over him. year, launched job ever awards first attracted as CFO to exceptional franchises Jeff TikTok, Ross, Artist Pepsi, new DNA. of this an this the sponsors, festival new are shows joining blue-chip at Corona, additional to shows, Mike. competition; And as version show, hand like to Music Snubby's, have updates every Chipotle, a Thanks, to LiveXLive online created. LiveZone. to With from beat Mike award that, the and look Hyundai, Self largest Lives become number existing KIA, Lives, we White Claw. going I'd our done year. series Porsche, valuable have believe On

Michael Quartieri

Thanks, Rob.

ended preliminary with strong fiscal 'XX results me the of provide XX% minutes our a QX year-over-year brief to a a We Let and results. record with million. $XX.X 'XX growing revenue fiscal overview few spend to

We which XX, at operating XXX,XXX paid operating revenue we dispute, Our to ended acquisitions which adjusted in in due $XX Moreover, Please X,XXX,XXX are revenues. not provided our a including a to are a our and currently another in of our total certain was quarter million, had loss subscribers of revenue. subject with the pay-per-view a diversification fiscal of up subscribers, in March with $XX.X contribution March in net number included million to recognizing and PodcastOne increase contractual sponsorship subscribers working and increase $XX.X as fourth part quarter, base. 'XX of XXX,XXX to record including year-over-year fiscal record CPS results, million compared successful adjusted accretive operating our $X.X narrowed basis, capital KPIs, XX, million of XX% revenue with paid net year-over-year. 'XX were loss XXXX. consolidated note we full to are year 'XX revenue coupled million, of subscribers as XX% CPS, margin fiscal On that $X.X enhanced large in and and PodcastOne to position The acquisitions of million. 'XX, our from $X.X increases

For subscription in to driven and $XX.X million XX% related the subscription fiscal improvement 'XX, $X.X fiscal was events fiscal comprised along of advertising, from million only margin XX% improvement advertising compared revenue sponsorship, as and PodcastOne was 'XX during live to year-over-year compared in and 'XX. increased Fiscal pay-per-view by additions contribution CPS The 'XX. our margin and and merchandising the year, with our of sponsorship revenue. to XX% year-over-year ticketing XXX% X%

$XX,XXX event, we 'XX, cost an During over improvement per events an average year-over-year. fiscal XXX live of of XX% streamed at

$X.X stems million live $XX.X million in cost increased noted fiscal margin largely improvement $X.X from scale the contribution events our our year. In subscription addition, 'XX year-over-year business. realized in during business. efficiencies and in from operating This increased live the Fiscal previously sponsorships operating our million was by improvement efficiencies our events, of compared by improved was The from driven 'XX. sponsorship to loss revenue our continued

subscribers offset attributable the Contribution was the was 'XX were 'XX. our QX and QX to accretive to and pay-per-view million, to PodcastOne, turning pay-per-view subscription and primarily XX% subscription million, in million XX% CPS, of acquisitions, of and is our increase increase in $X.X a year-over-year QX XXX% which represents our in addition revenue of $X.X an up advertising, X% to revenue, ticketing QX additions dispute. subject along to driving Now compared quarter. which sponsorship, revenue contractual 'XX, XX% the sponsorship $XX from reduction increase advertising; 'XX are 'XX, the which the is QX merchandising These to margin merchandising advertising was which of the subscription record with due to revenue. and in XXX% partially comprised compared in by the CPS. due

investment run. QX event these Our to $X just negatively strategic contribution margin outlined in franchises, Snubby's, our primarily these $XXX,XXX. operating Adjusted campaign returns to across and for continued $X.X quarter few, in was the loss the listener a million, of flywheel believe our a Lives, a of entire our including approximately grow marketing million LiveZone, the name live investment percentage over attractive will by and base impacted to investments in approximately yield We above. was the investments short due long strategic Music

you would revolving the extend of XXXX, prime Bank an with of with borrowing credit Turning million $XXX,XXX, $XX.X to restricted from company's facility entered activities maturity of the senior year-end. secured balance financing credit sheet. investing We rate update our increases In of million, by ended and and plus holders June, this few to net subordinate with convertible of during of from $XXX,XXX like notes to of to the June fiscal with into year $X.X operations $X cash connection of their from $XX.X by interest to year. up largely driven a security net $XX.X proceeds we in the to X, a cash cash capacity a 'XX million date million, that Year-over-year of company's we outflows interest was their million all items notes subsequent up and of cash assets. had occurred I now including activities X.X%. the In on EastWest the facility, additional a offset ago. agreed

Protection the our Small and from notification million Administration's of lenders of were the $X.X PPP our forgiven. received balance Payroll that approximately loans Program also subsidiaries’ entire Business under We

financial guidance. to Turning

an every of of events, revenue expect aspect we increase flywheel businesses. nearly our in live in With the associated return of

As for $XXX a are revenue operating from to $XX to adjusted increasing result, we XX, income with guidance March million fiscal be between of operations. XXXX, our between core the $X million year million ending to our million, $XXX

further providing we'll the year, through As we as progress warranted. be updates

utilizing X let Lastly, Form acquisitions auditors hand 'XX, time finalize the are extra allowed fiscal to continuing the XXb-XX me with it XX-K we SEC. work our with significant our And and consummated to on were financial to we're file under given during our the back Form Rob. formally that, XX-K, with reporting that Rule to

Robert Ellin

as Thanks, Great always. Mike.

into spectacular you has our of As this X,XXX together very subscription all combine I couldn't with $X.XX. video, them now my of more for be of right now songs; events, again. now increasing proud We this of a one all And to is exploding right? on during audio, ARPU live trying programming our prices been our the our So, see a I XXX area this XX when property, right? year go those that, million company every be of on time. in team. flywheel business, could all all our original approximately of has signs all out average, artists an year, right, see you telltale increased one, really

We at have our million. time we reported. did the $X pay-per-view business. growth we We're said only million $XX over We explosive in last

So you driven. how months, have can couple imagine, in been much of the revenues last

right So this to goal here bringing that the hitting together we company management growth, see have at we this plus to acquisitions, within in really all now million that of management paid to all position internal signs been telltale subscribers class the $X XX able world together, teams the billion X integrate years revenues.

their thank prouder want couldn't to everyone sticking patience thank year of this I this with our and So be team. for in everyone, I company,

Operator

Instructions]. [Operator

with comes question Needham. today Martin first from Laura Our

Laura Martin

to for a That's revenue One news. 'XX Congratulations Maybe economics couple. digital the demonstrates to when economics go would interested are fiscal LiveXLive, live telling that live expensive. on are more [WLE] fall, margins the have I'm -- great think back numbers say a and as live events really of us fantastic events, is, is fantastic they you digital? how So I reallocation the the unit compared unit for diversification. are in what events that

events the comment I'm back revenue. come as on to events happen you sort on of What focused that live understand I to for on live So what's capital about Could add entity. profitability and whole is that? return

Robert Ellin

Sure.

So for and business female of for distributor at us, launched, just events as Social a the and look And Gloves you partner as is because this well events. a both that we're the trade announced launched we're we as just hired as perfect right, we live just that it, we opening coming version We're the a event, risk were sponsor, it. component we each a were in were as in right? right? September, we that producer, had it distributed, up hired for of hired we getting We paid no live

right, talent a it's this So it proven can stadium, sure make from the that come the of your team home no to all deliver and and they event, together new risk. live can way revenues, really right, the has with process, that exciting the that drive we throughout take

So business have healthier some putting are I side going we're that And right? and $XX to in live does the where think ESPN we just revenues. But to get those going million like this in to in because margins the sports, us actually healthier of event a for mix just risk color, we're Laura. our over of both, have give little did you on

million bring $XX in risk it, to had think So in revenues, that as and we're you we sponsors. for no to to getting distribute it, paid produce it, of of

very, very healthy up. coming to going Our quarter margins be this are

Laura Martin

All Okay. right.

My robust for rest great. the of I theaters advertising really solves travel outlook revenue, Or getting in next and what your huge strength? and question the of sponsorship. the back about for guys comes months And think a benefit that's into And world as an the okay, you XX outlook a So for are and is -- you trade advertising of talk COVID. there's reopen then cycle can you the some ad locked of reopening are the are part total you where advertising, LiveXLive?

out we of out the be XX-second as So come now to as reactive to is is really, proving it the spots selling recession? upside

Robert Ellin

AAA We're fortunate you in content. have when that position

to you As everything from dollars. way dollars, in the sponsored advertisers have know, bigger branded with are content We coming right?

first and of you But it. you AAA because dots, right, very And content, podcasting and and of going our sponsorship. numbers right, the of started always to have out come will be saw, to to part Hyundai that we Some X-figure deals spots Hard announce just our as you're Rock. with tied have robust

again, away blow quarter just company. the in announced history So in our what sponsored dollars the already publicly will we've this any of quarter

As see coming new you the out... sponsorship team

Laura Martin

programmatic I was ask going just versus to about sponsorship.

units ad big are So compared which presold mix sort when I of think about what's sponsorships, those, of deals, Rob? XX-second the to

Robert Ellin

salesperson I going this sales a those and got conversation, detail percentage being into going opposite that ago the by maturation down team, programmatic comes, going don't The pieces, right? is have sales. a right, being I'm close company right? way driving we we're we marketing sales, on more way to today, way X team, of us, pre-COVID on right? of We it, and get luxury had Our in right? haven't So Laura, to Mike sales that focused But being down This and ass is broken of company and that. large have more to revenues. the you year is probably break important to sure people But we to XX all tip the getting we're a from the

point sponsors. to said, grew we an the inflection XX for is this as So from company. we And X

the this quarter, you If you lines, read just done see the we've we've over sponsors. events had between in right, XX

the substantially. is the integration board, starting cooperation that platform. and see revenue now starting So with the advertisers many. has all between been XX you process radio the years. in been we're around years, that for growing entire Podcast it XXX -- see our building for between streams around real flywheel been to across you're we're a unique whole sell to has arguably, this that around them Live can so you're has that that for streaming market right? And of selling across now But teams

Operator

Josey Ron question with Securities. JMP next comes Our from

Ronald Josey

a just ask then on I on pay-per-view. question Michael, a to little guidance Rob more wanted and and

can you This little Michael, calendar just and go third Rob the more. I through the a guidance year, is bit time raise maybe this think. So

you back pipeline the moving, going, So hit. in about Social is is The it enjoyed talk Spring think I up, for a is you're contributing. pipeline, maybe as things We CPS seeing the can sure. open and clearly Awakening is Glove what

bit bit like us to pipeline we to of help the the side the are coming fitting just being then, just on But think little Gloves pay-per-view to saw a up tailwinds the business, LiveXLive? next just you understand produced might the more how Rob, And here. question, view coming us So more pay-per-view Social we about a that talk about little these for how shows take-per-view? And of by all in?

Robert Ellin

Yes.

it to So going feet, going then to I'm Mike. you hand XX,XXX give I'm to a

success. And including I digital history We our big we and company. think the right and about lot world. everything tested next because talked there's to did have of just we wanted behind companies lot right, there's that were pay-per-view right? breakage perfectly, biggest proved of that lot X and little it, latency and on. our it and We the have right, and you right, of a to of pay-per-view technology to immediately weekends announced the and ago. worked one in the churn could issues, -- And perfection revenues that proved this perfection, this and of prove we so that and Because production Ron, a a thought is enter the and is, our and including companies, starting of point going I Showtime our all work, they

with You're going same to happening see artists. the thing

You'll of genres same see happen multiple thing the across pop culture. different

do event Number Gloves -- only and Social been so surprised XX grow we've far The signs reentry So to opening the social see be get events, live may if and slower there. the this, one shows right? month. you we're open, female excited the with it announced really that. in two Spring that or right, the are is, a area side I'd you right back now, widely Chicago we Awakening, world see We really see to Gloves up, know announced you about telltale right, than version, live has us XX of even right? things outside on as to Social XX other event didn't XX opens We from Midwest

guide great hadn't obvious going I'd it and raised just we're what in we is it again in the no guidance. numbers have we the we the that It to we had So say And people again, seeing to hesitancy but choice. was had that reconsider raising too soon. hit

with that, and So don't where articulate me hand on let Mike, Mike, are it we to fronts? you all why

Michael Quartieri

podcasts our When coming obviously. PodcastOne, as you we business, in in. to is across all improvement getting rates, Yes. the to look just subscription only them, dots, of to down are Rob where expansion tailwinds it's areas. statement, are really if new coming, at Look, you the in that relation income walk not seeing our describes spots that out going Tesla so the and helps continue pump and but cars, also you're

that's help that And and so really investment emphasize that. drive making we that strategic of to were part and

X/XX business you numbers days. our that's CPS us In these only at a and with for literally contributing, addition, CPS look when as X of quarter was

see have you Social which event as on we're pay-per-view else's really is of or where into X the that the coming through in our on where really Gloves event producer services performing support gets And that is things offering a like product an integrated someone behalf CPS can agent. event fully so those their not benefit that it only we in

getting and more that tied podcast, side other within business. is into talent the CPS of expansion we're the of that The more

X between call going point, your is events going fully months going the another and, all business flywheel, benefits can is, now events and integrated that's a a opportunities getting and many it, we so been of driver. big into we to see moving CPS great live it And get XX next more forward prior those And now has and The of piece how live with piece the next be of lot to to open it's what out? to joining that about LiveXLive to forward. key

Awakening, well, Spring with through CPS. all event like Social for Just merchandise Gloves, a run will live

should And us what I this we our exciting is future look of makes out go-forward so really past say. today, to to scope into guidance it the timing and most and as the again get we and But and flywheel be at, humming events as basis. we'll more -- did getting that's we're then adjusting the guidance accordingly as we future that a for those the go coming, where clarity that raise

Robert Ellin

great Mike just closed acquisitions the perfectly X in are which we that well, just flywheel. as which tuck-in adding the shortly, acquisitions announced again, fit and

Operator

come Tom Forte will question from next with Our Davidson. D.A.

Thomas Forte

Great.

question and one follow-up. one So

reopening? my question, into next when think, on expectation live know were year, your something you original how the So I are thinking what's Are live over your Chicago in next only about then you a Are expecting about, events? about How fiscal events guidance? your you reflected think year? you And fiscal the talked in you much that tickets. selling you I guidance gradual And baked where Chicago event? expecting follow-up question. of is

Robert Ellin

guidance on Awakening being is beginning only So it. super-conservative Spring that thing of the today, Tom, in the

smaller events We some of XX haven't including do, the any festivals. announced typical we XX live to of our

and issues careful, there's coming. are globally As right? that's So happening. hotspots that know, you happening fully some still that But and conservative are are expect some being we

careful this live to we've talent only going the last want put on expanding it's we artists bit be live stream I XXX globe. doing and year Midwest what we around little reason. a to you That together area, events X,XXX but events tell going no But -- for XXX So in be that. didn't would be to is team not is the that

and digital. live both So

future. coming more I So in fully very a live the our near lot the from area business of expect

Thomas Forte

be might that subscriber to count then ability your like events Social you successful about we early, or how a very And that and driving subscriber think event Gloves your should count? your leverage to like recognizing drive

Robert Ellin

subscribers. X,XXX of So lines mean I $XX of careful We've and actually between We think, But what convert a sales we've X% on revenues. reasons model. kind build pay-per-views the or X% X% to can we've you numbers I right? to in million for the of ticket now this. said been on run the multiple back and to announced did over subscribers we announced, read you

be Mike, You events you right, So continue to anything this to digital all grab events from number, add from live on that? this want explode. do your live the subscribers metrics your that you and at start events, would if we a adding on right? start staggering your rate, and

Michael Quartieri

No.

mean company and the that's XXXX, of calendar that get users back hamstringing get the were the because really so company, I'd period. was of, starting now most XXXX, was I how that be tailwinds capitalize that get I flywheel the us these live to throughout part entire subscribers year completely of live events, more I come think flywheel. the of you we'll hamstrung as say and flywheel. events that piece the XXXX, that we to we when -- say, and have exact And off. come no of also acquire more that's we into realm Unfortunately, is, when there more and and to the And up, on behind piece the to and of look just momentum able the

Robert Ellin

right, Chicago Tom, of revenues typically our React, Awakening X/X division. of And is the Spring

in approximately, in $XX Spring right, $X you're So million, million talking $X that revenues about Awakening. million

I -- are because beat just this sales think ticket number that year they're actually we exploding. just can

we like to it, go a And to that back in area could XX,XXX this XX,XXX, to selling try us announce quickly, going allow of we're moved increase expansion Chicago, that this from we press enhancement they're increase live that live so be company. release, we're could able just in to As another it it we to a be eventually park coming said XX,XXX. day just they go great they the into going hoping higher. those can wood, to will because looks If I'm those to And all bigger. to events knock very in on rest But events really if be shortly.

Operator

comes Partners. from Kinstlinger Our next Brian Alliance with Global question

Unidentified Analyst

is seen PodcastOne? This can or so? can advertising is you recovery? revenue is months pre-pandemic or Jacob Are PodcastOne on million believe With net last this you about X $XX I the And you maybe describe for in -- trends strengthening last you've back which for the to budget is Brian. the the contribution, across what about on talk board,

Robert Ellin

Yes.

above quarter, here. was of we're This million, seasonality if million. just So last -- X take enter, As you right? there is that you million, $XX quarter some quarters, $X was simply, just it was Last I mean, ahead right? the this above $X

that we're movie before, only amazing into So The a by seeing saw on. this announced to will the biggest And bit audio. Patrick including And right, and And thing, Mike with right. where just more XXX many going Jared, model. podcasts, Jingle, into of as and And be podcast We've both are a we these only slates of is Brazil talked I to the in Cutler just we're announced and do articulated added revenue These want and full second probably coming others, beyond becoming Anitta, streams. side brand. you broadcast. Atmosphere from occur. with their an the they see podcast/vodcast XXX thing deal Hyundai going. it’s Wachsberger really and is, you little deal, about and is and owned we've I excited star is in This podcasters one television, the the about action them the It's franchise But with Jay networks before, XX as just like the and expanding networks Pitbull one coming more And the is where tremendous PodcastOne so we've offerings is important is know, this of continue podcasts. or most sponsors, expand the movie tremendous, of we've some brand more the same think did next new Pepsi provides a play. brand Films podcast right? added and Number one to new and independent left. we've

You're that spending the a movie, the from or of of money and a market on television there and secondary world. it, if turn Amazons including Netflixes they to show very is come can into little revenues a selling whole work they

Unidentified Analyst

Okay. And as are and view ticketing you sponsorship? able to break down Social Glove's merchandise revenue such by per pay offering

Robert Ellin

was you was really you produced, it pay-per-view again, pretty But haven't. acclaimed. event, a our to staggering way into if kind look critically This -- amazingly of your amazing an number. We close number, can the back at

this. also to all right, rights the We halo own to the forward docuseries, in content going the

So not culture starting in but as out. grown to over idea, XXX%, So you and authentic I stopping, music, In authentic socials voice brand with this in give left just become the pop becoming an LiveXLive a now right? last it's is synonymous to it's itself. brand I And apologize, XX our have right? months,

Operator

Our next with from Spartan Barry question comes Sine Securities. Capital

Barry Sine

you questions, don't Two if mind.

monetize with pandemic, got iHeart, First of back? I to festivals. business of some come want LiveXLive the that out festival there. Does AEG, live partnered big old of prior flywheel biggest to stay extent ways back? all, much the I If Nation, Live to I all what that their topic on to and the come with you think more the do you of think with And promos, about festivals React wouldn't those business you've festivals now React to that can presents does which extent, your guys, as the well as as that, own a To competitor do what presents. still

Robert Ellin

than are The I fantastic. is than just lineup at mean, are bigger look social media iHeart, right? stock, ticket iHeart lineup traffic Nation sales I right? a ever. And -- we just lineups followers start million ever, It's And bigger even the XX can't ever. on for plus So than Live right? The remember bigger are how at our with stock, have many iHeart. -- look

you're Justin XX, all right to Ariana But September you're version on Grande, of our see next it. on see okay? going also our Sheeran, boxing going Ed So Bieber, to

now just -- seeing events did everyone drive it. XX ESPN ago, and up live they're going years everything, woken drive continue is that important, and side to you're it's But here digital vibrant like realized So is and to a those the to stay.

So September selective. we there's events and accretive. be going make that We're the distance. by We're to couldn't is make we going be excited. sure X,XXX we biggest to excited, have careful. choose sponsor. a of LiveXLive to it. to We're going But going a drive history sure be I weekend going can subscribers make to be going to the in couldn't We're from they're from. more sure XX We're that to And be more

Barry Sine

a better monetize you're you assume position prior well? the I were than And in pandemic, would to as now much them to

Robert Ellin

billions things Yes. would television come has live globe There on his Sports live have didn't work of first about the right? I that events, Bornstein years, this across this, events, live right? Whatever in fear afterwards about putting digital built right? big Steve spoke been factor ESPN, grown we so was hurt doing large in who X and to that is sponsors sports. of so dollars hundreds through up just and made

a to Gloves. we pay same LiveXLive million in the watched that first bought of people Imagine think we happen company year. Imagine in the one people may I see is music. that attend what you if Rock and thing XX million about Social X did And them is last Rio X% -- had did day, at exactly per ticket. had view

Gloves, And What So almost sold is guarantee. like it $XX? let's it's for think very $XXX. Social I if say the average much ticket a

that matter the stream of from flows a it's It's a revenue managers, a creating the through acceptance It's time. it, what matter the but talent right? matter a of of that the agents, growing it's just board. it, So brand-new in to to across happens

social XX up is big audience maturation thing is. it's that happens most hit, in now first at is to people of, very hired Sponsorship They've quickly, woken traffic how to right? and You salesperson to we up events live sponsorship, and coming could up how only got but no, the XX The is is dreamed faster have just both right than I ago -- the December music. be And working COVID XX-plus the Why We're right? important then we'll big are, sales, probably second before right? that? of way right? COVID my to

Barry Sine

Europe. big, Europe. that past in threw it Rob, you the that relationship streaming I've you Tesla. And about My you of that which to for was thought a European to a market quarter was Obviously, second wanted the heard rights the I question, news follow Tesla of have piece to nobody with it, is out to this obtain huge pretty that's you one able rights expect those be America reasons music into asked for North Tesla,

I Europe. Is while correctly? fiscal do -- big to reading a seeing know it Is come perhaps to start something revenue way? subscription that Tesla that but XXXX, a that am we out that somebody takes at news pretty in like it of So -- Tesla, this I of could with realistic we look can piece

Robert Ellin

material that is anything converted payables done at you give isn't million can't of X now, now the things. Universal a are XX off. couple I this of picked Slacker Number net into all equity, and $X.XX record Number right? labels up I payables paid Music is would we yet, all you what tell one, but the from

the very Slacker, publishers sheet is We've turned balance And can very very that balance the right, right, approved through year. been first approved, We've had they They acquisitions. all knew different, a weak first in in financial of sheet. and between the everyone, when done the we the they that seen That's the it. and knew as Now weak publicly us, for the emotional, now We've lights for we've the lights we all ever sheet. relationship The end is time, partnerships, done record said Our with of bought we on and and time then right? for labels budget the done has talk personally to acceptable these and different. It's balance Elon going right? accepted car, these are that, And this different. connectivity right? a right? about

XX XX now another across And notice may that cars, went I there's there's -- Tesla globe. right? as but So no cars, us as we not Tesla, expanding well huge company car you And to to You're with in from only this with that. board that across reason to think, expand, we couldn't think right? see believe opportunities, I continue going to to for the land the year,

Operator

session. Rob call any Ellin to This the to question-and-answer I'd over turn remarks. concludes like closing for back our

Robert Ellin

for market We in want a or patience. public. everyone just a thank previous everyone. companies They're your previously companies. or I've capital were I year been trying it's venture company times they’re in public tough times, This stock for been went themselves. in to has through this

you $X.XX, think I content to the the you far $X.XX, today you business in that $X at and looking has million we're the been for guidance think XXX we there's to end our platform biggest get in free really that everything And right? It's history, million that ability We're of original for of or and come certainly million you us $XX anywhere else come. but programming have the subscription come for don't talk a today revenues integrated, media an model the year. forward biggest $XX in to really positioned from right, we've to million, now I is million on uniquely world. simplify XXX to purely that our quarter get way just music and be to quarter. ability to So by can of ourselves of You -- everyone XXth we've to that more and supported this I forward going looking announced quarter, that biggest to right? average think that are such to amount tremendous have our to And this a

I and to the race everyone forward this the now want And top at And so a quarter, during we support hopefully, the now. for of thank look just end to times. you talking is tough again to this to

So thank you.

Operator

The attending today's now presentation. concluded. you conference has Thank for

may You disconnect. now

LiveOne (LVO) 29 Jun 212021 Q4 Earnings call transcript