DTCjr
3 years ago
Check out VNUE, Inc. (Symbol: VNUE):
VNUE TO ACQUIRE LIVESTREAMING COMPANY STAGEIT
Acquisition Enables Creation of Full-Service Venue and Event Monetization Platform and Brings Key Music Recognition Technology Talent On Board
New York, NY (July 28, 2021) – In a strategic double-whammy, music technology company VNUE, Inc. (OTC:VNUE) today announced that the company is acquiring live streaming innovator StageIt in a deal that will add over nine million in revenue and access to thousands of performers and creators. The deal brings hundreds of thousands of live music fans and complementary technology to VNUE’s portfolio in addition to delivering key pioneering talent in the Music Recognition Technology (MRT) space to VNUE’s roster, which the company believes will accelerate the rollout of the company’s groundbreaking platform, Soundstr.
The companies expect to close within 60 days pending the completion of diligence and the required financial audit, and Stageit will become a wholly-owned subsidiary of VNUE.
StageIt, launched by musician Evan Lowenstein in 2010, is one of the earliest and most prominent live streaming companies. Lowenstein has served as Executive Chairman of StageIt since music industry veteran Stephen White joined as CEO in 2020. Exploring new alternative revenue-generating options outside of touring became essential for the live entertainment industry when the Covid-19 pandemic hit. Since then, thousands of artists have utilized StageIt’s services to monetize their livestreams and stay connected to their fans, from Grammy Award-winning Ramsey Lewis, American Idol star David Archuleta, and rock icon Joan Jett to international stars Celtic Thunder and fan favorites Devin Townsend and Rhett Miller. Music fans purchase tickets to see online concerts powered by StageIt’s best-in-class platform and enjoy the intimacy of these unique live experiences. The StageIt service is complimentary with VNUE’s set.fm “instant live” mobile and web platform, and the company will add a feature that not only allows fans to enjoy a livestream but purchase the audio of the performance immediately afterwards and relive the experience over and over.
In addition to White, Stageit is led by Chief Product Officer Vadim Brenner, both of whom have a long tenure in audio content recognition. White was president of Gracenote, Inc., which was bought by Nielsen in 2017, and more recently was CEO of music rights company Dubset Media Holdings, which was acquired by Los Angeles-based Pex last year. Gracenote is a well-known pioneer in audio “fingerprinting” technology, and Dubset specializes in ensuring that uploads of unofficial mixes and DJ sets can obtain copyright clearance for streaming, and that the subsequent royalties get paid to the right stakeholders.
Brenner also served in high level positions at both companies – at Gracenote, as Vice President of Product Management and at Dubset, as Chief Product Officer. In addition, the acquisition also brings together a “dream team” of engineering and development talent that VNUE not only will leverage to further the growth of StageIt, but also for Soundstr initiatives.
Zach Bair, CEO of VNUE, said, “The acquisition of StageIt represents the first step in a multi-pronged plan to grow the business and enhance shareholder value, as I have committed to since day one. The company will pursue both organic and inorganic opportunities that are synergistic, and with StageIt, we have incredible synergy not just with the StageIt platform and how we can integrate with our existing content platforms such as set.fm, but with the incredible leadership and talent pool that we will now have access to in order to move our Soundstr technology forward.”
“VNUE, as their name suggests, has been creating a platform for artists, labels, rights holders and venue operators that enhances revenue and helps resolve complex rights compliance. The addition of StageIt will enable the first full monetization suite for venues, festivals and events that will make it simple for our clients and operators to generate more revenue and embrace the hybrid future that livestreaming provides,” said White. “We couldn’t be more excited to join Zach and the VNUE team and to help push this vision forward.”
StageIt hosted 6,280 shows in 2020 and paid out over $7M to artists, generating more than $9.2M in gross revenues. The platform has over 58,000 performers and over 900,000 users from 135 countries. The company launched a venue program in 2020 and has a significant set of venue partnerships that include historic venues such as The Bluebird Cafe in Franklin TN, d.b.a. in New Orleans, LA, The Great American Music Hall in San Francisco, CA, and many others.
About VNUE, Inc. (www.vnue.com)
VNUE, Inc., (OTC: VNUE) is a multi-faceted music technology company dedicated to monetizing the live music experience for artists, labels, writers, and publishers, with products such as its set.fm instant content distribution platform (www.set.fm), exclusive license partner and "instant live" pioneer DiscLive (www.disclive.net), and protecting the rights of artists and writers with the company's Soundstr music recognition technology (MRT) (www.soundstr.com). The veteran entrepreneurs, artists, and songwriters behind VNUE, led by music and tech entrepreneur and recording artist Zach Bair (www.zachbairmusic.com), are passionate about the future of their industry and ensuring that rights holders' value is not lost amid always-changing technology. VNUE also holds a 4.99% stake in RockHouse Live International, a new live music venue & restaurant chain that was recently launched in Clearwater Beach Florida, and which is expanding globally, with new locations announced in Key West, FL, and Oxford, MS.
About StageIt (www.stageit.com)
StageIt, the premier online experience connecting artists and their fans, is a web-based live streaming platform and vibrant community. Founded in 2009 for artists, by artists, StageIt is on a mission to help performers navigate the intricacies of the online live streaming space, providing a stage for every creator and a front row seat for every fan. As an early industry leader StageIt offers a platform for artists to perform live, interact with fans, and monetize shows, while creating unique experiences for fans. To learn more visit stageit.com or follow on Instagram, Facebook and Twitter.
Safe Harbor
This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as new service lines noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations we will be providing services in, the impact of which cannot be predicted at this time.
Golden Cross
5 years ago
LiveXLive Partners With UNITE To Live Stream 24-Hour Global Event "The Call To Unite" Featuring Over 100 Spiritual & Wellness...
PR Newswire (US) Print
LOS ANGELES, May 1, 2020 /PRNewswire/ -- LiveXLive Media, Inc. (NASDAQ: LIVX) ("LiveXLive" or the "Company"), a global digital media company focused on live entertainment, today announced that it has partnered with UNITE as a live streaming partner for the 24-hour global event, "The Call to Unite", starting Friday, May 1, 2020 at 8 p.m. ET / 5 p.m PT. LiveXLive will simulcast the special event across its platform and its OTT channels on Amazon, Apple TV, Roku and Samsung TVs, desktop and mobile/tablet. Viewers can tune into the event, chat and mash by visiting the LiveXLive Events Page.
Featuring over 100 global leaders in wellness & spirituality and celebrities Common, Deepak Chopra, Eckhart Tolle, Jay Shetty, Maria Shriver, Oprah, Jennifer Garner, Julia Roberts, Quincy Jones, and more, the event invites people across the world to stand in solidarity with those experiencing pain, fear, loneliness, and grief as a symbol of hope and our shared humanity. Throughout the event, global leaders will join citizens of the world in sharing practices, prayers, songs, and reflections. The event will also feature performances from fine arts entertainers like Alvin Ailey American Dance Theatre and the African Children's Choir.
"While our core business is focused on artists and the music-industry, our platform has become an essential streaming partner for live streamed events in other categories," said Dermot McCormack, president of LiveXLive. "It's a testament to the infrastructure we have built over the last few years and we're excited to support 'The Call to Unite' as it brings spiritual and wellness leaders and celebrities together to unify an isolated world and combat loneliness."
LiveXLive has become a must-have partner for large scale streaming events -- like Global Citizen and WHO's "One World: Together At Home" and iHeartMedia's recent special with Elvis Duran -- alongside Google's YouTube, Amazon's Twitch and Prime Video, Facebook and Apple TV.
'The Call to Unite' is the second non-music streaming event that has partnered with LiveXLive. On April 4, 2020, LiveXLive supported the Comedy Gives Back "LAUGH AID" show, which streamed are the biggest thing you try 8 hours of comedy routines from Adam Sandler, Jim Gaffigan, Ken Jeong, Iliza Shlesinger, Patton Oswalt and Whitney Cummings to deliver "much needed relief to a distressed nation" and raise funds for comedians negatively impacted by COVID-19.
'The Call to Unite' will call on viewers to donate to its service partners, GiveDirectly and Points of Light, in support of families and communities that need it most.
LiveXLive has already streamed over 210 artists in the first two quarters of 2020 as compared to a total 300 artists total in the 2019 calendar year. It's inaugural Music Lives 48-hour nonstop global music festival garnered 50 million livestreams with an average of 200K concurrents and 3.6 billion video views for #musiclives on TikTok.
LiveXLive, accessible on the web as well as on devices from the car to home, brings music fans the best seat in the house for festivals, concerts and events worldwide, via a curated-by-people audio selection of millions of recorded songs, original programming segments comprised of live performances, podcasts, artist interviews, lifestyle segments, and show pilots. LiveXLive's streams are also available on Amazon, Apple TV, Roku and Samsung TVs. LiveXLive operates a live events business and offers branded entertainment, content development, advertising, merchandising, and live streaming services. For more information about LiveXLive, please visit www.livexlive.com.
About LiveXLive Media, Inc.
Headquartered in Los Angeles, California, LiveXLive Media, Inc. (NASDAQ: LIVX) (the "Company") is a global digital media company focused on live entertainment. The Company operates LiveXLive, the first 'live social music network', delivering premium livestreams, digital audio and on-demand music experiences from the world's top music festivals and concerts, including Rock in Rio, EDC Las Vegas, the Montreux Jazz Festival, and many others. LiveXLive also gives audiences access to premium original content, artist exclusives and industry interviews. For more information, visit www.livexlive.com and follow us on Facebook, Instagram, TikTok, Twitter at @livexlive, and YouTube.
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the Company's reliance on one key customer for a substantial percentage of its revenue, the Company's ability to attract, maintain and increase the number of its users and paid subscribers, the Company identifying, acquiring, securing and developing content, the Company's ability to maintain compliance with certain financial and other covenants, successfully implementing the Company's growth strategy, including relating to its technology platforms and applications, management's relationships with industry stakeholders, changes in economic conditions, competition, 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 fiscal year ended March 31, 2019, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 24, 2019, Quarterly Report on Form 10-Q for the quarter ended December 31, 2019, filed with the SEC on February 7, 2020, and in the Company's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements, except as may be 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.
Press Contact:
Factory PR
212.941.9934
live@factorypr.com
LiveXLive IR Contact:
310.529.2500
ir@livexlive.com
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