With the acquisitions of both Snap Interactive and Slacker Radio, can anyone now stop LiveXLive?
In a report published in August, Nielson found that millennials (18-34) love using multiple apps. They use two or more messengers, for instance. When listening to their favorite music, millennials also prefer using multiple music apps.
In addition, Nielson found that 93% of millennials listen to AM/FM radio. Digital radio listening has also increased among this age group.
That may explain LiveXLive’s latest moves.
Seemingly capitalizing on Nielsen{s report, LiveXLive Media acquired video streaming and online community company, Snap Interactive, on Monday. In addition, the premium live-streaming network has just announced a new acquisition: Slacker Radio.
LiveXLive Media also announced that they’ve appointed a new president, Andy Schuon. Alongside Sean “Diddy” Combs, he helped co-found Revolt TV. Schuon is also an experienced radio veteran. He has developed successful radio programs, including Los Angeles’ ‘Kevin & Bean.’
At the premium live-streaming network, Schuon will now oversee all of the company’s divisions, including social media influencers and its live music lifestyle video service.
In his first move as President, Andy Schuon has acquired Slacker Radio.
Speaking about Schuon’s appointment and Slacker’s acquisition, Robert Ellis, CEO and Chairman of LiveXLive Media, said,
“Andy joins us at a perfect time to lead this latest acquisition of Slacker Radio and direct the company overall.”
The acquisition will accelerate the company’s efforts to deliver world-class entertainment, information, and music content.
Slacker Radio has worked as a key innovator in the music streaming market. The company has provided a personalization platform for both Samsung and Tesla.
With the acquisition, both companies will combine content programming teams. The teams will work together to create a network of both audio and video channels across mobile, TV apps, and in-car entertainment systems.
Slacker Radio’s technology team and platform will provide advantages for the audio and video sides of LiveXLive Media. The company delivers free and subscription-based access to millions of songs from Sony Music, WMG, and Universal Music. It also provides users with hundreds of expertly programmed stations, including ABC News, ESPN, and others.
In turn, the premium live-streaming network will provide access to festivals, clubs, venues, concerts, and its influencer network. LiveXLive Media has over 85 million combined followers.
Speaking about the acquisition, Andy Schuon, said,
“I walked into a radio station at 16, and it became who I am, not what I do. To continue to have the opportunity to shape the future of music streaming services and streaming radio with a leading platform like Slacker Radio is incredibly exciting,”
The premium live-streaming network will acquire Slacker through a merger of wholly owned subsidiary LXL Music Acquisition. The aggregate purchase price is $50 million, consisting of both cash and stock.
Let’s just hope that nothing changes with Slackers service.