LiveXLive, an entertainment company known for live festival broadcasting, is launching a new business model that is pay-per-view, which adds to its existing subscription-based offering.
The move drives a new revenue-sharing model for both artists and LiveXLive, via digital ticket sales, fan tipping, digital meet and greets, merchandise sales and sponsorship.
LiveXLive’s pay-per-view offering will include tour and weekend passes for $39.99 and $19.99 respectively and an “a la carte option” for single shows, priced at $4.99.The news follows LiveXLive’s venture into the podcast market last week, with its acquisition of PodcastOne, in a deal estimated to be worth US$18.1 million.
LiveXLive’s first pay-per-view event is 11E1ven Group’s virtual concert series Live From Out There, which will feature more than 45 live performances starting 15 May and running until 7 June. Tickets can be purchased here.
“The music business is at an important inflection point,” says LiveXLive CEO and chairman Robert Ellin. “Pay-Per-View and digital ticketing have been staples for the broadcast entertainment business for many years. We’re excited to be among the first-movers in pay-per-view livestream music events where we see significant revenue potential for both artists and our business.”
LiveXLive has streamed over 200 hours of content from over 900 artists since the start of 2020, as compared to a total of 300 artists during the whole of 2019. In addition to its live streams from festivals and concerts, where its partners include Rock in Rio, Montreux Jazz Festival and EDC Las Vegas.