Fresh on the heels of LiveXLive’s planned acquisition of PodcastOne, the live event video streaming company is quickly demonstrating how it plans to leverage its entry into the podcasting business. PodcastOne’s Adam Carolla partnered with LiveXLive over the holiday weekend to produce a video podcast – or vodcast as it’s becoming known as – that featured a mix of stand-up comedy and musical performances. The collaboration showcases how LiveXLive plans to combine both live stream entertainment and on-demand podcast listening, and the company says, use that platform to pioneer new talent and artist-first franchise formats.
The event was held at the Houston Improv in Texas on Saturday and was part of Carolla’s stand-up comedy tour. It featured musical performances by Graham Parker and John Hiatt, and an interview with Rep. Dan Crenshaw (R-TX). The entire event benefited the Houston Food Bank.
"This unique collaboration with Adam Carolla is a preview of how we plan to drive viewership by cross-pollinating our live music and podcast business platforms around talent-first opportunities that excite both consumers and advertisers," said LiveXLive CEO Robert Ellin in a statement.
The event allowed Carolla’s fans to watch the stream live on Saturday on both LiveXLive's platforms and PodcastOne’s website. The event also aired on Monday as part of Carolla's daily podcast.
Earlier this month LiveXLive announced it is buying PodcastOne in an $18.1 million all-stock deal. The deal is expected to close in June. It will aquire the live event video streaming service's portfolio of more than 300 shows including The Adam Carolla Show which averages 30 million downloads per month.
"The ink isn't even dry on the acquisition agreement and we're already jointly doing things that have never been done before," said PodcastOne founder and Executive Chairman Norman Pattiz. "Our respective teams are energized to work towards creating an incredibly robust digital platform that provides artists, customers, advertisers and sponsors with the opportunity to be part of this unique experience."
LiveXLive said the anticipated PodcastOne acquisition will bring “significant opportunity” for the two companies to cross-sell and cross-promote subscribers, advertisers, and sponsors, as well as provide their collective artists and on-air talent with one expanded platform to increase their social media and online presence.
The COVID-19 lockdowns have been a boon for its business. LiveXLive has already streamed over 1,000 artists since January 2020, as compared to 300 artists in total for 2019.