LOS ANGELES (CelebrityAccess) — Live event streaming platform LiveXLive Media announced it has completed the integration of business operations across all subsidiaries and divisions, including the concert promotion company React Presents.
LiveXLive’s announcement that it had acquired React Presents was awkwardly timed, coming in February 2020, just before the coronavirus pandemic landed in full forced. However, in normal years, React Presents produced upwards of 250 dance music events, festivals, clubs dates, and concerts on an annual basis, including Spring Awakening Festival held annually in Chicago, IL.
In 2019, React Presents generated approximately $15.0 million in revenue through ticket sales, sponsorship, merchandising, and other ancillary revenue and LiveXLive expects similar results once live music returns at scale in North America, the company said.
LiveXLive’s other integrated subsidiaries include the audio and video music streaming platform Slacker Radio, premium podcasting service PodcastOne, and the merch company Custom Personalization Solutions.
The consolidations business elements include accounting and finance, HR, and legal operations, and LiveXLive and PodcastOne are on track to complete the merging of their offices and production studios at a new location in West Hollywood by September 2021.