The live event video streaming service LiveXLive says its first “video podcast” featuring Adam Carolla resulted in a record 1.1 million live stream views. The format marked the first collaboration with PodcastOne, which LiveXLive recently announced it is buying in an $18.1 million all-stock deal.
The Memorial Day weekend event featured Carolla hosting a mix of stand-up comedy and musical performances. The event was held at the Houston Improv in Texas and was part of Carolla’s stand-up comedy tour. It featured musical performances by Graham Parker and John Hiatt, and an interview with Rep. Dan Crenshaw (R-TX). The entire event benefited the Houston Food Bank. The event allowed Carolla’s fans to watch the stream live on both LiveXLive’s platforms and PodcastOne’s website. The event also aired on Memorial Day as part of The Adam Carolla Show.
“Our team has been aggressive in developing ways for us to collaborate with artists and amplify our strengths in live stream programming,” said Robert Ellin, CEO and Chairman of LiveXLive. “This incredible momentum in artist relations, programming and new formats like Pay-Per-View and video podcasts have laid the groundwork for us to now monetize those efforts, especially with the anticipated addition of the sales force of PodcastOne.” The deal is expected to close by the end of this month.
LiveXLive said the anticipated PodcastOne acquisition will bring “significant opportunity” for the two companies to cross-sell and cross-promote subscribers, advertisers, and sponsors, as well as provide their collective artists and on-air talent with one expanded platform to increase their social media and online presence.
Since January, LiveXLive has streamed 48 events, triple the number it had a year ago, and over 1,000 artist performances. Its programming has generated more than 66 million live stream views — an increase of 175% over the same time period last year. And total hours streamed increased by over 179%. The company also says sponsorship revenue has “climbed significantly” so far this year.
LiveXLive has also added several additional revenue formats, including pay-per-view events, an artist ambassador program, tipping, merchandise and virtual gifts. The company says it is seeing “promising trends” in those categories.