LiveXLive Expands Programming with Fight Sports Network

LiveXLive Media (LIVX) has added Fight Sports Network to its programming menu as it works to expand entertainment options for its audiences. The launch of Fight Sports on LiveXLive kicked off with the Mayweather vs. Paul fight streaming on June 6.

Fight Sports network provides coverage of combat sports across a diverse set of categories, including boxing, karate, judo, and sumo. Its offerings include live programming, reality series, documentaries, and magazine shows. CSI Sports owns the network, which launched in 2012 and has more than 200 carriage deals in countries across Europe, Asia, and the Caribbean.

California-based LiveXLive Media operates an all-in-one streaming platform offering music and entertainment content delivered live and on-demand. Its brands include Slacker Radio and PodcastOne. It will offer Fight Sports programming to its audiences in Europe and Asia.

LiveXLive counts on the Fight Sports partnership to bolster its premium content offering. Fight Sports hopes the arrangement will expand its global distribution.

“We are thrilled to partner with Fight Sports to expand the global footprint of our live premium sports content,” commented LiveXLive president Dermot McCormack.

LiveXLive makes money in a variety of ways, including subscriptions, content licensing, advertising, sponsorships, and merchandise and ticket sales. It recently raised its 2021 revenue outlook, as its core business continues to show strength. (See LiveXLive Media stock analysis on TipRanks)

DA Davidson analyst Thomas Forte reiterated a Buy rating on LiveXLive Media stock and raised the price target to $8 from $6.50. Forte’s new price target implies 51.23% upside potential. Forte maintained his bullish view after the company upgraded its 2021 guidance.

Consensus among analysts is a Moderate Buy based on 2 Buys. The LiveXLive average analyst price target of $7.50 implies 41.78% upside potential to current levels.

LIVX scores a 6 out of 10 on TipRanks’ Smart Score rating system, suggesting that the stock is likely to perform in line with market averages.

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