LiveXLive Media, Inc. (NASDAQ:LIVX) Q4 2019 Earnings Conference Call Transcript

Jun 13, 2019 • 08:30 am ET

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LiveXLive Media, Inc. (NASDAQ:LIVX) Q4 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day and welcome to the LiveXLive Media Fourth Quarter and Fiscal 2019 Earnings Conference Call. All participants will be in listen-only mode. (Operator Instructions) Please note, this event is being recorded.

I would now like to turn the conference over to Whitney Kukulka, Investor Relations. Please go ahead.

Executive
Whitney Kukulka

Good morning and welcome to LiveXLive Media's financial results and business update conference call for the fourth quarter and fiscal year 2019 ended March 31, 2019. Joining me on today's call are Rob Ellin, CEO and Chairman; and Mike Zemetra, CFO.

I would like to remind you that some of the statements made on today's call are forward-looking and based on current expectations, forecasts and assumptions that involve risks and uncertainties. These statements include but are not limited to statements regarding the future performance of LiveXLive including expected financial results for the full fiscal year 2020 and future growth in the business.

Actual results may differ materially from those discussed in this call for a variety of reasons. Please refer to our filings with the SEC for information about factors, which could cause our actual results to differ materially from these forward-looking statements, including those described in the Company's Annual Report on Form 10-K for the year ended March 31, 2018 and subsequent SEC filings. Importantly, this conference call contains time-sensitive information that is accurate only as of the date of this call, June 13, 2019.

You will find reconciliations of non-GAAP financial measures to the most comparable GAAP financial measures discussed today in the Company's earnings release, which is posted on our Investor Relations website at ir.livexlive.com. And we encourage you to periodically visit the Company's IR website for important content.

The following discussion including responses to your questions reflects management's view as of today June 13, 2019 only. And except as required by law, we do not undertake any obligation to update or revise this information after the date of this call.

Now, let me turn the call over to Rob. Rob?

Executive
Robert S. Ellin

Great. Thank you so much. So welcome everyone, Rob Ellin. Thanks for joining the call. I couldn't be prouder of the remarkable progress that LiveXLive has made in its first full year as a public company. Our vision was to create a social live music platform and to give global audiences the best seat in the house for major festivals and music content every day of the year. We have evolved into one of the authentic voices in live music.

We delivered record financial performance this year, generating $33.7 million in revenues, up over 350% year-over-year. In Q4, we posted $9.2 million in revenues, up 30% year-over-year. Metrics are growing at a rapid pace, with monthly active users perhaps surpassing 1.4 million. In 2019, that number was 1.1 million. As well as our paid subscribers, which were approximately 680,000 at year-end representing over 50% year-over-year growth. Additionally, we delivered 51 million live streams across 24 festivals and live events compared to seven events in 2018.

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