Why LiveXLive is increasing by 15% today

What happened

Actions of LiveXLive Media (NASDAQ: LIVX) climbed 15% in afternoon trading on Wednesday after the music streaming platform announced it was launching a number of pay-per-view programs on Facebook‘s (NASDAQ: FB) new paid online event feature.

The programs will include comedy shows, sports and podcasts, and will be marketed worldwide.

So what

Although COVID-19 vaccinations will allow people to return to normal activities soon enough, many sites appear reluctant to hold events open to large sections of the public.

Image source: Getty Images.

Virtual participation has become a popular substitute for live events during the pandemic, and LiveXLive has proven to be a popular service to access it. Monday, JMP Securities raised his course target on the stock as he expects media stock to be able to tap into the latent demand for such shows.

Now what

Facebook launched paid online events last August with the promise that it would allow businesses to monetize their events online, create, market, register attendees, and collect fees in one place.

This could give LiveXLive a new way to reach a large audience for its events, as Facebook will “work closely” with it. The director of the sports league and media partnerships of the social networking site, Rob Shaw, noted the growth of paid online events in the world of sports and said, “We are delighted that LiveXLive is looking into the functionality. and continue to build a business on our Platform. “

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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