LiveXLive Setting Out to Become Next-Gen MTV

January 17, 2019

By Conor White

During the bitter months of winter, music-lovers may dream of summer festivals like Coachella, Bonnaroo, and Governors Ball.

But actually planning trips to those festivals is another matter entirely ー and an expensive one, at that.

Enter LiveXLive, a platform that brings festivals and other live events to music enthusiasts who can't afford to attend in-person.

"We set out to take the playbook from ESPN, to create the next generation MTV," founder Robert Ellin told Cheddar Thursday. "And then add the community and social components of it to give the consumer the most immersive experience while they watch a live event."

LiveXLive has already streamed 20 events in 125 countries to the tune of more than 45 million views. The company's next event is iHeartRadio's ALTer Ego Festival through a new partnership with the entertainment giant.

Ellin said the possibilities for his company are immeasurable.

"We gave them an opportunity to partner and curate a brand new revenue stream for the entire music industry," he said.

The new partnership with iHeartMedia should only boost LiveXLive's ($LIVX) already-rapid growth. The company now has over 650,000 paying subscribers and more than 1.2 million active users, with almost 30,000 new subscribers a month.

While it might seem counterintuitive for festivals to partner with a platform that allows users to watch events from their couches, Ellin argues it's actually a mutually beneficial arrangement.

"You can watch it on TV but you'd still rather be at the live event," he said. "We're driving more people to these events."

For full interview click here.