LiveXLive, the Streaming platform, acquires the Chicago promoter React Presents, owner of the Spring Awakening festival.
The Chicago promoter, React Presents is known for organizing events such as Spring Awakening, Mamby On The Beach, Summer Set Music Festival o freaky deaky halloween in addition to different shows. It has been bought by the Festival Streaming platform, LiveXLive. For an amount of 2 million dollars.
The CEO of LiveXLive said «This is a transformative moment in the evolution of LiveXLive. We have quickly become a leading platform for live streaming and original music content with a large global audience and more than 820,000 paid subscribers.. By acquiring this key asset in the EDM space, we added $ 15 million in revenue, expanded our audience reach with the addition of more than 250 programs and events, and continued to fill our flyer with event ownership and management.«
Many of you will know LiveXLive for broadcasting Insomniac events like EDC Las Vegas. The platform also owns the company Wantickets, Slaker Radio y alliedsports along with its new acquisition React Presents. We'll see what happens in the next few weeks with Spring Awakening.