Does LiveXLive’s partnership with iHeartMedia signal a far broader partnership in the near future?
LiveXLive Media has confirmed a major partnership.
The digital media company has announced a partnership with iHeartMedia. The former will livestream the 2019 iHeartRadio ALTer Ego event, taking place at the Forum in Los Angeles. iHeart’s event will take place on January 19th, 2019.
LiveXLive also stated it will announce “an additional livestream in partnership” with the broadcast radio giant in early 2019.
Last year, the digital media company ramped up its effort to lock down livestreaming partnerships and other similar deals.
Last September, LiveXLive secured exclusive livestream deals with the Life Is Beautiful Music & Art Festival. The company also livestreamed a benefit concert celebrating the life of Mac Miller. In addition, LiveXLive’s Slacker Radio partnered with Heard Well to launch Heard Well Radio. The station spotlights emerging artists and new music curated from the online creator community.
Underscoring the digital media company’s strength, LiveXLive exceeded 25 million total festival livestreams in the summer of 2018. The livestreams were primarily generated from 8 festivals – EDC Las Vegas, Rock On The Range, Country 500, Montreaux Jazz Festival, Rock in Rio Lisbon, and others. The company’s subscriber base had also grown to more than 489,000.
The announcement also comes amidst iHeartMedia’s effort to emerge from Chapter 11 bankruptcy.
Several weeks ago, the broadcast radio giant confirmed it would split from Clear Channel Outdoor Holdings (CCOH).
Under the deal, CCOH will fully separate from iHeartMedia, which owns 89.1% of the former’s outstanding common stock. The separation will occur in conjunction with, and subject to, iHeart’s emergence from its ongoing restructuring process.
iHeartMedia reiterated no changes will take place as of yet. CCOH’s current leadership and Board of Directors will remain in place until the former company exits its restructuring process.
Speaking about today’s deal, Rob Ellin, CEO and Chairman of LiveXLive, explained,
“Our mission is to bring our global audience of music fans the ‘best seat in the house’ for musically diverse concerts by the most popular artists. iHeartMedia, with its massive reach across radio, digital and social, and its culture-defining marquee events such as ALTer Ego, is undeniably a perfect fit.”
John Sykes, iHeartMedia’s President of Entertainment Enterprises, added,
“With tickets having sold out immediately, our partnership with LiveXLive will give music fans across the country the opportunity to view this livestream on any device.”