LiveXLive Announces New Two-Year $7 Million Secured Revolving Credit Facility and Extends Maturity of its Existing Subordinated Secured Convertible Notes

Facility Increases Company's Current Liquidity to Over $22 Million and Provides Flexibility to Aggressively Pursue its 7th Contemplated Acquisition, Reconfirm its Stock Repurchase Program, Broaden Record Label Music Licenses Globally, and Expand Live Music, Podcast and Original Program Line Ups

Company Continues its Process to Explore Strategic Alternatives in Order to Enhance Shareholder Value with the Assistance of J.P. Morgan

LiveXLive Media (Nasdaq: LIVX) ("LiveXLive"), a global platform for livestream and on-demand audio, video and podcast/vodcast content in music, comedy and pop culture, and owner of PodcastOne, Slacker Radio, React Presents and Custom Personalization Solutions, announced today that it has entered into a new two-year $7 Million secured revolving credit facility that will bear interest at the Prime Rate plus 0.5%.

Separately, the holders of LiveXLive's existing senior secured convertible notes agreed to subordinate and extended the maturity of the notes to coincide with the term of the new revolving credit facility. 

LiveXLive's CEO and Chairman, Robert Ellin, commented, "This is the first time LiveXLive has had the opportunity to utilize conventional low interest bank debt as part of its capital stack. This now provides us a better opportunity to aggressively pursue our 7th contemplated acquisition, the previously announced two million share stock buyback program, an expansion of our record label music licenses globally, and our lineups in podcasting, original programming and live music events."

LiveXLive's Chief Financial Officer, Michael Quartieri, stated, "When combined with our existing cash position, the new revolving credit facility increases our current liquidity to over $22 Million, which enhances our financial flexibility.   Additionally, the low interest rate is a testament to our improving financial position and creditworthiness."

As previously announced in January 2021, with the assistance of J.P. Morgan, LiveXLive is continuing a process to explore strategic alternatives in order to enhance shareholder value. Potential alternatives may include, among others, a strategic acquisition, divestiture, merger, sale or other form of business combination. There can be no assurance that LiveXLive's efforts will result in a specific transaction or any particular outcome or its timing.

LiveXLive has the first talent-centric platform focused on superfans and building long-term franchises in on-demand audio and video, podcasting, vodcasting, OTT linear channels, pay-per-view, and livestreaming. Its model includes multiple monetization paths including subscription, advertising, sponsorship, merchandise sales, licensing, and ticketing. LiveXLive recently raised revenue guidance for its 2022 fiscal year based on strength in its core businesses.

About LiveXLive Media, Inc.

Headquartered in Los Angeles, California, LiveXLive Media, Inc. (NASDAQ: LIVX) (the "Company") (pronounced Live "by'' Live) is a leading global all-in-one streaming artist-first platform delivering premium music and entertainment content and livestreams from the world's top artists, expertly curated streaming radio stations, podcasts, and original video and audio on-demand content, as well as personalized merchandise, connecting artists to millions of fans every day. The Company has streamed over 1,800 artists since January 2020 and has created a valuable connection between bands, fans and brands by building long-term franchises in audio, video, podcasting, pay-per-view (PPV), livestreaming, and specialty merchandise. LiveXLive is available on iOS, Android, Roku, Apple TV, and Amazon Fire, and through OTT, Samsung TV, STIRR, Sling, and XUMO, in addition to its own app, online website and social channels. The Company's wholly owned subsidiary PodcastOne, generates more than 2.25 billion downloads per year with 400+ episodes distributed per week across a stable of hundreds of top podcasts. The Company's other major wholly owned subsidiaries are LiveXLive, Slacker Radio, React Presents and Custom Personalization Solutions. For more information, visit www.livexlive.com and follow us on Facebook, Instagram, TikTok and Twitter at @livexlive.

Press Contact:

917.842.9653
aileen@livexlive.com

LiveXLive IR Contact:

310.601.2505
ir@LiveXLive.com