LOS ANGELES, Aug. 24, 2020 /PRNewswire/ — LiveXLive Media (NASDAQ: LIVX) («LiveXLive»), a global platform for livestream and on-demand audio, video and podcast content in music, comedy, and pop culture, announced today that it has partnered with Strax Networks Inc. to bring its augmented reality StraxAR™ SaaS platform to LiveXLive. The two companies will collaborate to bring Strax Networks’ new augmented reality technology across the LiveXLive platform and its vast OTT distribution network.
Augmented reality («AR») brings the digital world together with the physical world by «augmenting» digital content onto a physical object or image. LiveXLive’s livestreams, Pay-Per-View events and vodcasts will be able to offer exclusive content directly from the artist, audience interaction, the ability to purchase items from video footage and provide intimate, exclusive and up-close view of behind the scenes. The StraxAR™ AR technology will have continuous, direct engagement with fans and deliver unique content worldwide, opening new gateways of accessibility to millions.
«We’re excited to partner with Strax Networks to provide augmented reality experiences to fans worldwide,» said Robert Ellin, CEO and Chairman of LiveXLive. «Having access to this innovative technology will enable us to dramatically expand the creative platform for artists and to provide never available before fan experiences.»
«We are thrilled to work with LiveXLive to open new channels in media with this collaboration,» said David Levy, a Director of Strax Networks Inc. «Our ability to create direct engagement channels for artists with exclusive content via the StraxAR™ augmented reality platform creates unprecedented entertainment opportunities for fans in settings not previously possible.»
LiveXLive has become a go-to platform for livestreaming events that combine music with pop culture of podcasting, sports, arts, fashion, culinary and comedy. From emerging to established artists, LiveXLive has streamed a variety of A-list artists and celebrities in 2020 alone: Kygo, Jimmy Buffett, OneRepublic, Zac Brown, Darius Rucker, Sofi Tukker, Graham Parker, John Hiatt, John Butler, Michael Franti, Nahko, Trevor Hall, FINK, Mike Love, Rising Appalachia, Krishna Das, Big Gigantic, Hot Chelle Rae, Lauren Jauregui, Billy Joel, Bon Jovi, Chris Rock, Idina Menzel, Jennifer Lopez, Sullivan King, Quix, Nitti Gritti, Dr. Fresch, Champagne Drip, and Pegboard Nerds.
About Strax Networks Inc.
Strax Networks Inc. is changing the way visual content is experienced around the world. Via our StraxAR™ platform, we offer simple, informative, interruption-free, and rapid time-to-value augmented reality experiences for partners and their customers, delivering revolutionary speed and accessibility. View, learn, and discover a world beyond your everyday reality as StraxAR™ opens new doors of perception and expression. Visit us online at www.straxnetworks.com
About LiveXLive Media, Inc.
Headquartered in Los Angeles, California, LiveXLive Media, Inc. (NASDAQ: LIVX) (the «Company») (pronounced Live «by» Live) is a global platform for livestream and on-demand audio, video and podcast content in music, comedy, and pop culture. LiveXLive has streamed over 1200 artists since January 2020 and has become a go-to partner for the world’s top artists and celebrity voices as well as music festivals concerts, 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 as it earned over 50 million views and over 5 billion views for #musiclives on TikTok on 100+ performances. LiveXLive’s library of global events, video-audio podcasts and original shows are also available on Amazon, Apple TV, Roku and Samsung TVs in addition to its own app, destination site and social channels. The Company’s wholly-owned subsidiary, PodcastOne, generates more than 2.1 billion downloads annually across more than 300 podcasts. For more information, visit www.livexlive.com and follow us on Facebook, Instagram, TikTok, Twitter at @livexlive, and YouTube.
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 consummate any proposed financing or acquisition and the timing of the closing of such proposed transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of any proposed transaction will not occur; the Company’s ability to continue as a going concern; 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; the Company successfully implementing its growth strategy, including relating to its technology platforms and applications; management’s relationships with industry stakeholders; the effects of the global Covid-19 pandemic; 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, 2020, filed with the U.S. Securities and Exchange Commission (the «SEC») on June 26, 2020, Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, filed with the SEC on August 14, 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.
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SOURCE LiveXLive Media, Inc.