LiveXlive Media Inc. (LIVX) stock gained 12.08% on Tuesday’s March 23, 2021, after-hours session after gaining 7.53% in the morning session. As of this writing, it has gained 14.71% in the pre-market session of today March 24, 2021.
Let’s see what’s the latest developments about LIVX.
The stock price went up after analysts improved the company rating. Also, LiveXlive Mediavirtual concerts strategy is another factor behind its surging stock price because it is an effective alternative during the COVID-19 pandemic when the music industry is at a standstill.
The exclusive pay-per-view rap concert idea during the current pandemic is also practical and supporting LIVX Stock financially.
LIVX Stock is also transforming business by taking some serious initiatives which will boost its profitability in the long run.
Analyst estimating good upcoming financial results
The industry analyst is expecting that LIVX will post a quarterly loss of $0.11 per share in its upcoming report. Revenues are expected to be $20 million, up 102.4% from the year-ago quarter.
Lil TJay’s Upcoming Pay-Per-View Album Drop
On March 22, 2021, LiveXLive Media announced the launch of Lil TJay upcoming album in a special house Pay-Per-View party on March 31, 2021, at 8 PM Eastern/5 PM Pacific.
2nd virtual music festival
On March 23, 2021, LIVX announced that the music festival “Music Lives”, will be returning to global music fans virtually for the second consecutive year. The festival will begin Friday, March 26, 2021, at 6 pm ET/ 3 pm PT through Sunday, March 28.
Music Lives remains free to fans and it will launch the first-ever NFT music festival poster. The festival will run over 72 hours of non-stop music and will be presenting a total of 120 artists.
LiveXLive Media, Inc was established in September 2013 and is based in Los Angeles, California. LIVX is a leading global all-in-one streaming artist-first platform delivering premium music and entertainment content and live-streams from the world’s top artists. LIVX Stock has streamed over 1,800 artists since January 2020 and has created a valuable connection between bands, fans, and brands. LIVX Stock’s wholly-owned subsidiary PodcastOne generates more than 2.25 billion downloads per year with 400+ episodes distributed per week.
Conclusion: the LIVX stock price can go further up because of the unique idea of virtual pay per view music concerts which is becoming more famous and subscription is increasing.