Amazingly, LiveXLive produced no revenue in FY2Q19 despite streaming 8 concerts. I arrive at my $0.4M calculation for LiveX revenue after taking the Slacker revenue, which LiveXLive reports in their 10Qs, and subtracting this from total revenue. While each concert is unique, it is not unique in the same way that each sports event is unique because the variables change so much more with a new opponent in a new city than for a new venue for the same artist.įiscal year to date LiveXLive has generated $0.4M. In fact, music concerts are a repetition. To that point, I’ve never read an article about music artists performing and how it was better or worse than their performance in a different city. But there is analysis of sports between friends and in journalism that make watching in real time necessary. This simply can’t be replicated in someone’s living room.īulls will point to sports as an analogy but concerts are different than sports. The fun in being at a festival is being with a group of people all experiencing the same thing at the same time. I believe this is because streamed music festivals have little consumer draw.
While LiveXLive spends most of the time on earnings calls and in discussions with investors talking about its concert live streaming service, however it has generated just $0.4M of non-Slacker/concert revenue for the last three quarters. LiveXLive is Not a Streaming Music Service I argue below that I believe shares are worth only $2 (an aggressive assumption) – 2x the amount it paid for Slacker a year ago. It continues to lose money through its concert streaming service, while it is supporting these losses by continuing to extend its working capital. LiveXLive ( LIVX) purports itself to be a live streaming video service that is building an “ESPN like” company around concerts but the company is a music streaming service that is only growing by forcing itself on Tesla customers.
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