LOS ANGELES, July 24, 2019 /PRNewswire/ -- SRAX (NASDAQ: SRAX), a digital marketing and consumer data management technology company, and LiveXLive Media, Inc. (NASDAQ: LIVX) ("LiveXLive"), a global digital media company focused on live entertainment, today announced they have entered into a strategic partnership designed to increase each platform's user base while generating data-based insight.
SRAX's BIGtoken, a platform for people to own and earn from their personal data, will enable its 16 million users to exchange their points, which are earned by sharing data, for LiveXLive premium subscriptions. BIGtoken will also reward points for users who refer family and friends to LiveXLive. Correspondingly, as BIGtoken drives users to LiveXLive, LiveXLive will drive users to BIGtoken by introducing its 30 million addressable users to BIGtoken opportunities. Existing users of LiveXLive and BIGtoken who join the BIGtoken platform will earn BIGtoken reward points for connecting their accounts.
In addition to bringing new users to both platforms, data related to music choices and listening habits will be used to enhance and personalize the LiveXLive experience. The permission-first, transparent data transactions offered by BIGtoken will also provide advertisers additional tools to identify and target specific audiences.
"We're proud to give people more ways to earn from their data while holding to our promise of transparency and security," said Christopher Miglino, CEO and founder of SRAX. "We anticipate that this partnership will drive a significant number of new subscribers to LiveXLive while driving many new users to BIGtoken. Your data is valuable, and we are proving that this can translate to amazing services like LiveXLive."
"SRAX will introduce LiveXLive to millions of users, and we expect a commensurate growth in subscribers. We have consistently seen that when people discover LiveXLive, they quickly become a part of our global community. In addition, the data generated through BIGtoken will elevate the LiveXLive experience for subscribers, artists, and advertisers, further strengthening our mission of connecting bands, brands, and fans," said Robert Ellin, CEO and Chairman of LiveXLive.
A next generation live social music platform, LiveXLive has globally live streamed premiere music festivals from all over the world, producing in excess of 360 hours of original content, featuring more than 440 artists. In addition, the company has developed a slate of original programming that includes more than 300 pieces of short-form content comprised of live performances, podcasts, artist interviews, lifestyle segments, and show pilots since May of 2018.
About LiveXLive Media, Inc.
Headquartered in West Hollywood, California, LiveXLive Media, Inc. (NASDAQ: LIVX) (the "Company") is a global digital media company focused on live entertainment. The Company operates LiveXLive, the first 'live social music network', delivering premium livestreams, digital audio and on-demand music experiences from the world's top music festivals and concerts, including Rock in Rio, EDC Las Vegas, the Montreux Jazz Festival, and many others. LiveXLive also gives audiences access to premium original content, artist exclusives and industry interviews. For more information, visit www.livexlive.com and follow us on Facebook, Instagram and Twitter at @livexlive.
SRAX (NASDAQ: SRAX) is a digital marketing and consumer data management technology company. SRAX's technology unlocks data to reveal brands core consumers and their characteristics across marketing channels. Through its blockchain identification graph technology platform, BIGtoken, SRAX has developed a consumer-managed data marketplace where people can own and earn from their data thereby providing everyone in the Internet ecosystem choice, transparency, and compensation. SRAX's tools deliver a digital competitive advantage for brands in the CPG, automotive, investor relations, luxury, and lifestyle verticals by integrating all aspects of the advertising experience, including verified consumer participation, into one platform. For more information on SRAX, visit www.srax.com.
All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to identifying, acquiring, securing and developing content, ability to attract and retain users, ability to maintain compliance with certain financial and other covenants, successfully implementing the Company's growth strategy, including relating to its technology platforms and applications, management's relationships with industry stakeholders, changes in economic conditions, competition, and other risks including, but not limited to, those described in the Company's 2019 Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC") on June 24, 2019, and in the Company's other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements, except as may be required by law.
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SOURCE LiveXLive Media, Inc.