Fintech
LiveXLive Media Raises Guidance and Its Investor Presentations at Needham’s and J.P. Morgan’s Tech & Media Conferences
New York, New York–(Newsfile Corp. – May 20, 2021) – PCG Digital — With LiveXLive (NASDAQ: LIVX) presenting at premier investor conferences on May 19th and the 26th that will be attended by some of the biggest institutional investors, it will be very interesting to hear more about what is driving the company’s growth. Last month, LIVX announced it was increasing its revenue guidance for the fiscal year ending March 31, 2022, to $100 million to $110 million with Adjusted Operating Income of $1.5 million to $3.0 million, which would be up from updated revenue guidance for the fiscal year ended March 31, 2021, of $64.5 million to $65.5 million. Intriguingly, this increased guidance does not even include any revenue from its live events business due to COVID-19. As vaccination rates climb and COVID cases decline, this could set LIVX up to raise guidance even further. Its upcoming Social Gloves live event in Miami has the potential to be a huge revenue driver for the company as its flywheel business model kicks into high gear.
Growth Metrics Rising
The company also provided an update on its impressive growth metrics. It ended FY 2021 with over 1.075 million paid subscribers showing excellent overall growth. During FY 2021, LiveXLive livestreamed over 140 live music events and 1,781 artists across the LiveXLive platform, generating over 150 million livestream views, as compared to 42 events, 256 artists, and over 69 million livestream views in the same period a year ago. In Q4 FY 2021 alone, livestream views grew 533% to 38 million compared to 6 million livestream views in Q4 FY 2020. Additionally, during FY 2021, LiveXLive livestreamed 27 Pay-Per-View (PPV) events, sold over 68,000 PPV tickets with an average ticket price of $26.73, and generated total PPV revenue of $2.4 million, including ticket sales, merchandising, vodcasting/podcasting, advertising, and sponsorships. LiveXLive’s 24-hour linear OTT streaming channel now reaches over 300 million people. Likewise, PodcastOne now generates more than 2.25 billion downloads per year, has over 235 exclusive podcast shows, and produces more than 400 podcast episodes per week. Total social media reach across the exclusive PodcastOne talent roster now exceeds 240 million.
LiveXLive’s balance sheet remains strong as the company expects to close fiscal year 2021 with approximately $18.4 million in cash and cash equivalents, as compared to $17.4 million on December 31, 2020.
Live Events Rebounding
More live events are returning to stages across the United States, with one of the most unique events of the year, if not the decade to come. In early April, LiveXLive and Hard Rock International & Seminole Hard Rock announced a multi-year & multi-million dollar strategic partnership to host and sponsor LiveXLive events, kicking-off with Social Gloves: Battle Of The Platforms Franchise beginning on June 12 at the Hard Rock Stadium in Miami Gardens. The live event will accommodate close to 30,000 attendees in a socially distanced configuration to ensure the health and safety of all guests. The PPV live broadcast will air on the LiveXLive platform, Facebook, and will be available on all devices for livestreaming.
The upcoming PPV event, Social Gloves, a boxing competition, which pits the world’s largest social media stars from YouTube against the new icons from the explosive TikTok platform and a new partnership with Facebook, allows LIVX to capitalize across its flywheel business model, including subscription, advertising, sponsorship, pay-per-view tickets, merchandise, and a new NFT content division.
This past Friday, LIVX announced the Midwest’s largest all-electronic music festival, Spring Awakening Music Festival (SAMF), will return to Chicago’s Addams/Medill Park on October 2nd and 3rd, 2021, for the first “Autumn Equinox” edition of the festival. Last year’s first-ever virtual SAMF, which featured 22 artists performing across the country, garnered over 3 million livestreams, 2.5 million impressions, and 69,000 live engagements over the LiveXLive platform. Pre-Covid, the React business generated $15-$20 million in revenue with its flagship SAMF drawing around 30,000 people each day in attendance. With Spring Awakening being the first of many live events its React Presents division will announce in addition to Social Gloves, clearly this is a positive trend and one that can generate meaningful revenue this quarter and next as the live events business continues to ramp back up.
Another positive industry trend is a close peer in the live events space, Live Nation, which recently reported that its concert pipeline for 2022 is up double digits, and Ticketmaster continues to sign new clients.
Large Partnerships and a Budding NFT Business
Tesla remains a large and impressive customer, which continues to report strong growth and should bode well for LIVX. The partner list continues to grow with Samsung and PodcastOne news. And if that wasn’t enough, LIVX’s business is ideally suited to capitalize on the NFT industry, and it has only just begun with the recent upfront fee and royalties in a multi-year, multi-million dollar announcement with Cybertino for licensing LIVX assets including Social Gloves. iHeartMedia, another multi-billion market-cap peer, has been performing well and recently surpassed previously reported company guidance. Investors actively looking for undiscovered growth opportunities in this space may soon wake up to the LIVX value proposition especially as customers from each division convert into long lasting monthly subscribers.
Continued Consolidation, M&A and Hiring JP Morgan
Consolidation continues in the industry, with the recent acquisition of Tidal highlighting the strong interest in this high-growth sector. Financial services company Square announced on March 4th that it had acquired a majority stake in Tidal, the music streaming service founded by music mogul Jay-Z and other artists for $297 million. As LIVX continues to grow its subscriber base with its unique and differentiated content platform, other major industry players such as music streaming service leaders Spotify Technology, Apple, and Amazon may start to take notice. Could this be part of the reason LIVX engaged JP Morgan to explore M&A and strategic alternatives?
Insider Buying
Last but not least, management and insiders have been buying stock actively in the open market over the last six months, filing multiple Form 4s, and its CEO remains its largest investor with now over 16 million shares on top of multi-millions invested directly. Clearly, this displays their strong belief in the value of the business.
Influential Investor Conference
All of this makes the (NASDAQ: LIVX) fire-side chat hosted by well-known and influential Needham analyst Laura Martin on Wednesday, May 19, 2021, at 11:00 am EDT, extremely intriguing. Click here for the Needham virtual event: https://wsw.com/webcast/needham108/livx/2286785. And just this week, LIVX announced that they will be presenting at J.P. Morgan’s 49th Annual Global Technology, Media and Communications Conference on May 26th at 1:25 pm EDT; login here to listen live: https://jpmorgan.metameetings.net/events/tmc21/sessions/37814-livexlive-media-inc/webcast?gpu_only=true&kiosk=true.
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The World Economic Forum (WEF) has released a pivotal white paper in collaboration with the Financial Conduct Authority (FCA), titled “Quantum Security for the Financial Sector: Informing Global Regulatory Approaches”. This January 2024 publication underscores the urgent need for global cooperation as the financial sector transitions from a digital economy to a quantum economy, highlighting both the immense opportunities and cybersecurity challenges posed by quantum computing.
Quantum: A Double-Edged Sword for Finance
Quantum computing offers transformative benefits for the financial sector, such as accelerated portfolio optimization, enhanced fraud detection, and improved risk management. Yet, it simultaneously threatens the very foundation of cybersecurity. With quantum’s ability to break traditional encryption methods, sensitive data and financial transactions face significant risks. The white paper warns that such vulnerabilities could erode trust in the financial system and destabilize global markets.
The urgency to prepare is evident, with some quantum threats, such as “Harvest Now, Decrypt Later” attacks, already emerging. Governments and regulators, including the United States with its National Security Memorandum on Quantum (2022), have begun advocating for quantum security readiness by 2035. However, as noted in the paper, transitioning to a quantum-secure infrastructure is a monumental task requiring unprecedented coordination between regulators, industry leaders, and technology providers.
A Collaborative Framework: Four Guiding Principles
To address the complex challenges posed by quantum technologies, the WEF and FCA have proposed four guiding principles to inform global regulatory and industry approaches:
- Reuse and Repurpose: Leverage existing regulatory frameworks and tools to address quantum risks, rather than creating entirely new systems.
- Establish Non-Negotiables: Define baseline requirements for quantum security, ensuring consistency and interoperability across organizations and jurisdictions.
- Increase Transparency: Foster open communication between regulators and industry players to share best practices, strategies, and knowledge.
- Avoid Fragmentation: Prioritize global collaboration to harmonize regulatory efforts and avoid inconsistencies that could burden multinational organizations.
These principles aim to create a unified, forward-looking strategy that balances innovation with security.
A Four-Phase Roadmap for Quantum Security
The white paper introduces a phased roadmap to help the financial sector transition toward quantum security:
- Prepare: Raise awareness of quantum risks, assess cryptographic infrastructure, and build internal capabilities.
- Clarify: Formalize engagement between stakeholders, map current regulations, and model the cost and complexities of transitioning to quantum-safe systems.
- Guide: Address regulatory gaps, translate technical standards into actionable frameworks, and develop industry-wide best practices.
- Transition and Monitor: Implement cryptographic management modernization and adopt iterative, adaptable regulatory approaches to remain resilient in the quantum economy.
This roadmap emphasizes adaptability, encouraging stakeholders to continuously refine their strategies as quantum technologies evolve.
The Path Forward: Collaboration as a Catalyst
The transition to a quantum-secure financial sector is not merely a technological shift but a comprehensive rethinking of how industries and regulators approach cybersecurity. The interconnected nature of global finance means that collaboration between mature and emerging markets is crucial to avoid vulnerabilities that could undermine the entire system.
Regulators and financial institutions must act with urgency. As Sebastian Buckup, Head of Network and Partnerships at the World Economic Forum, notes in the report:
“The quantum economy era is fast approaching, and we need a global public-private approach to address the complexities it will introduce. We welcome this opportunity to collaborate with the FCA to chart the roadmap for a seamless and secure transition for the financial services sector.”
Similarly, Suman Ziaullah, Head of Technology, Resilience, and Cyber at the FCA, emphasizes:
“Quantum computing presents considerable opportunities but also threats. The financial sector relies heavily on encryption to protect sensitive information, the exposure of which could cause significant harm to consumers and markets. Addressing this requires a truly collaborative effort to transition to a quantum-secure future.”
Global Impact: Ensuring Resilience in an Evolving Landscape
As quantum technologies mature, they will redefine the landscape of cybersecurity. The financial sector, as one of the most sensitive and interconnected industries, must prioritize preparedness to ensure stability, protect consumers, and maintain trust.
The Quantum Security for the Financial Sector: Informing Global Regulatory Approaches white paper offers an essential foundation for continued dialogue and action. By adhering to the guiding principles and roadmap outlined in the report, stakeholders can navigate this transformation with foresight and cooperation.
The full report, published by the World Economic Forum, highlights the need for a unified global approach to quantum security, serving as a rallying call for industry and regulatory leaders alike.
Source: World Economic Forum, “Quantum Security for the Financial Sector: Informing Global Regulatory Approaches”, January 2024.
The post Quantum Security and the Financial Sector: Paving the Way for a Resilient Future appeared first on News, Events, Advertising Options.
The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.
Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion
Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.
By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.
Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.
Source: Fintech Futures.
Juniper Research Highlights 2025’s Payment Trends
Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.
The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.
Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.
Source: Juniper Research.
MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets
MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.
MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.
Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.
Source: MeaWallet News.
Nucleus Security Among Deloitte’s Fastest-Growing Companies
Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.
With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.
Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.
Source: PR Newswire.
OpenYield Secures Funding to Transform the Bond Market
OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.
This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.
Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.
Source: PR Newswire.
Key Takeaways: Shaping the Future of Fintech
Today’s developments underscore several critical themes in the fintech landscape:
- Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
- Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
- Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
- Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
- Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.
The post Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations appeared first on News, Events, Advertising Options.
As fintech continues to reshape the global financial landscape, today’s briefing highlights pivotal developments, strategic expansions, and innovative launches across the industry. This op-ed explores the latest advancements with commentary on their potential impacts and challenges.
Finastra Data Breach: A Wake-Up Call for Fintech Security
Source: KrebsOnSecurity
The cybersecurity landscape is buzzing after Finastra, one of the largest financial technology providers globally, confirmed an investigation into a potential data breach. Reports suggest unauthorized access to its systems, raising concerns about data security across its client base, which includes thousands of banks and financial institutions worldwide.
Implications and Challenges
While the details of the breach remain sparse, this incident underscores a glaring vulnerability in the fintech sector—cybersecurity. As financial services increasingly rely on interconnected ecosystems, breaches like these threaten not only individual institutions but also the trust customers place in fintech platforms.
The key takeaway for the fintech industry is clear: proactive cybersecurity strategies must go beyond compliance. Real-time threat detection, robust encryption standards, and regular audits are no longer optional but essential for maintaining operational integrity.
Future Considerations
This breach could trigger a domino effect, prompting regulators to tighten security standards and requiring fintech companies to double down on investments in data protection. Startups and mid-tier players, often lacking extensive cybersecurity budgets, may face significant pressure to keep pace.
PayPal Resurrects Money Pooling Feature
Source: TechCrunch
In a bid to stay ahead of the competition, PayPal is reintroducing its Money Pooling feature, a popular tool that was discontinued in 2021. The feature allows users to pool funds collectively, catering to families, small businesses, and social groups.
Strategic Revival
This move reflects PayPal’s commitment to customer-centric innovation. By reinstating a feature beloved by its user base, the company seeks to reclaim market share lost to emerging competitors offering similar functionalities.
Broader Industry Impacts
Money pooling represents a broader trend in fintech—customized solutions that cater to niche needs. This reintroduction may inspire competitors like Venmo and CashApp to refine their collaborative payment offerings.
While this move strengthens PayPal’s ecosystem, its success will depend on seamless integration with existing services and robust fraud prevention mechanisms to avoid abuse of the feature.
Santander Expands Fintech Reach in Mexico
Source: Yahoo Finance
Santander is making waves in the Latin American fintech space with the launch of a dedicated fintech unit in Mexico. The initiative aims to capitalize on Mexico’s growing fintech adoption and digital payments market, valued at billions of dollars annually.
Strategic Significance
Santander’s expansion into Mexico highlights the region’s untapped potential. Latin America is a burgeoning market for fintech, driven by increasing smartphone penetration, a youthful demographic, and demand for accessible financial services.
Challenges on the Horizon
While Mexico offers immense opportunities, regulatory complexities and market competition from local players like Clip and Konfío pose significant challenges. Santander will need to blend its global expertise with local adaptability to succeed in this dynamic market.
2024 Global Fintech Awards: Spotlighting Excellence
Source: PRNewswire
Benzinga has announced the winners of the 2024 Global Fintech Awards, honoring companies and individuals driving innovation in financial technology. This year’s winners spanned categories like blockchain, artificial intelligence, and payment solutions.
Recognizing Industry Leaders
Awards like these highlight the collaborative spirit and entrepreneurial drive fueling fintech growth. Recognizing trailblazers not only motivates incumbents but also inspires startups to push the boundaries of innovation.
What It Means for the Ecosystem
The awards also bring attention to emerging technologies. Categories such as blockchain and AI signal the industry’s continued focus on leveraging cutting-edge tech for efficiency and scalability.
Commonwealth Central Credit Union Partners with Jack Henry
Source: FinTech Futures
Commonwealth Central Credit Union (CCCU) has announced a partnership with Jack Henry, a leading financial technology provider, for a comprehensive tech upgrade. The collaboration focuses on enhancing member experience through improved digital services.
Modernizing Member Experiences
Credit unions have often lagged behind major banks in adopting advanced digital solutions. By partnering with Jack Henry, CCCU aims to bridge this gap, offering members streamlined services such as mobile banking, automated lending, and personalized financial tools.
A Growing Trend
This partnership reflects a broader trend in the financial industry—credit unions and smaller banks embracing fintech to remain competitive. As customer expectations evolve, partnerships like this may become the norm rather than the exception.
Key Takeaways for the Fintech Industry
- Cybersecurity is Critical: The Finastra breach underscores the need for robust security measures.
- Innovation Drives Loyalty: PayPal’s revival of its Money Pooling feature highlights the importance of listening to customers.
- Regional Opportunities: Santander’s expansion into Mexico showcases the untapped potential of emerging markets.
- Recognition Matters: Awards like Benzinga’s provide valuable visibility for companies and individuals shaping the industry.
- Partnerships Foster Growth: Collaborations between credit unions and fintech companies signify a trend towards modernized financial solutions.
The post Fintech Pulse: Industry Updates, Innovations, and Strategic Moves appeared first on News, Events, Advertising Options.
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