<SEC-DOCUMENT>0001213900-21-000206.txt : 20210104
<SEC-HEADER>0001213900-21-000206.hdr.sgml : 20210104
<ACCEPTANCE-DATETIME>20210104171558
ACCESSION NUMBER:		0001213900-21-000206
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20201229
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210104
DATE AS OF CHANGE:		20210104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LiveXLive Media, Inc.
		CENTRAL INDEX KEY:			0001491419
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				980657263
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38249
		FILM NUMBER:		21502725

	BUSINESS ADDRESS:	
		STREET 1:		9200 SUNSET BOULEVARD
		STREET 2:		SUITE #1201
		CITY:			WEST HOLLYWOOD
		STATE:			CA
		ZIP:			90069
		BUSINESS PHONE:		(310) 601-2500

	MAIL ADDRESS:	
		STREET 1:		9200 SUNSET BOULEVARD
		STREET 2:		SUITE #1201
		CITY:			WEST HOLLYWOOD
		STATE:			CA
		ZIP:			90069

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LOTON, CORP
		DATE OF NAME CHANGE:	20100507
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ea132617-8k_livexlive.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported): December 29, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LIVEXLIVE MEDIA, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 33%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>001-38249</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>98-0657263</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction<BR>
of incorporation)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission File&nbsp;Number)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer<BR>
Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>9200 Sunset Boulevard, Suite #1201</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>West Hollywood, CA 90069</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)
(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>(310)&nbsp;601-2500</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>n/a</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4&copy;)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Securities registered pursuant to Section
12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 33%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Title of each class</FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Trading Symbol(s)</FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Name of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCECFF">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Common stock, $0.001 par value per share</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>LIVX</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>The NASDAQ Capital Market</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 319.5pt; text-align: right">Emerging growth company <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.75in"><FONT STYLE="font-size: 10pt"><B>Item 5.02</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(d)&nbsp;Effective
as of December 29, 2020 (the &ldquo;Effective Date&rdquo;), the Board of Directors (the &ldquo;Board&rdquo;) of LiveXLive Media,
Inc. (the &ldquo;Company&rdquo;) elected Maria Garrido as a director of the Company. The Board determined that Ms. Garrido is an
&ldquo;independent&rdquo; director pursuant to the definition of independence under Rule 5605(a)(2) of the Nasdaq Listing Rules.&nbsp;The
Board may appoint Ms. Garrido to one or more committees of the Board at a future date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Ms. Garrido is a multilingual,
multinational executive with 24 years of experience in modern marketing. She has held global and local leadership positions in
profitable business units, and has held both operational and strategic roles in consumer goods, media, communications and entertainment
across North America, Latin America and Europe. Since February 2018, Ms. Garrido has been the Senior Vice President, Brand Marketing
of Vivendi SA, a French media conglomerate headquartered in Paris, France and the owner of Universal Music Group, Groupe Canal+
and Dailymotion, having activities in music, television, film, video games, book publishing, tickets and video hosting services,
where she leads the content marketing practice across the Vivendi group of companies. From January 2017 to December 2018, Ms. Garrido
served as the Chief Executive Officer of Havas X SA, a French multinational advertising and public relations company, headquartered
in Paris, France, where she promoted Havas initiatives in the various innovation spaces (AI, start-ups, academic partnerships)
and lead a team of innovators around the world. From 2014 to December 2020, Ms. Garrido served as the Chief Insights Officer of
Havas SA where she lead the development of strategic analytical tools to improve client&rsquo;s KPI performance and managed data
analytics product/service portfolio at a global level. Ms. Garrido has also previously held various marketing consulting, director
and manager positions with Mondelez Europe GmbH, Colgate-Palmolive Company, 3M Company and Hallmark Cards, Inc. She is a prolific
global public speaker, having appeared on Bloomberg news, The Guardian&rsquo;s Summit, Cartagena Inspira, Mumbrella Australia, South
Tech Summit, World Retail Congress, APAC Hall Healthcare Conference, IBC and IAB Mexico. Ms. Garrido is a member of the International
Women&rsquo;s Forum and Marketing World50 and has also been a Media Jury member for Cristal Media Festival, Dubai Lynx, Cannes International
Festival of Creativity, and President Entertainment Jury Eurobest. Ms. Garrido received her Master of International Business Studies
from the University of South Carolina and Bachelor of Arts double degrees in International Relations and French from Drake University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white">In
consideration of Ms. Garrido joining the Board, the Company approved the grant to her of 21,953 restricted stock units of the Company
(the &ldquo;RSUs&rdquo;), which shall vest at least 13 months from the Effective Date, as shall be determined by the Board, subject
to her continued service on the Board through such vesting date. The RSUs will be issued under the Company&rsquo;s 2016 Equity
Incentive Plan (as amended, the &ldquo;Plan&rdquo;). Each RSU represents a contingent right to receive one share of the Company&rsquo;s
common stock or the cash value thereof.&nbsp;The Board, in its sole discretion, will determine in accordance with the terms and
conditions of the Plan the form of payout of the RSUs (cash and/or stock). Ms. Garrido shall also be entitled to participate in
the annual compensation package the Company provides to its non-employee directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in; background-color: white">There
is no arrangement or understanding between Ms. Garrido and any other persons pursuant to which Ms. Garrido was elected as a director
of the Company. There are no family relationships between Ms. Garrido and any of the Company&rsquo;s officers or directors. Other
than as described herein, there are no other transactions to which the Company or any of its subsidiaries is a party in which Ms.
Garrido has a material interest subject to disclosure under Item 404(a) of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item&nbsp;7.01 &nbsp;&nbsp;&nbsp;&nbsp;Regulation&nbsp;FD Disclosure.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">On
December 30, 2020, the Company issued a press release announcing the election of Ms. Garrido as a director of the Company. A copy
of the Company&rsquo;s press release is attached as&nbsp;Exhibit&nbsp;99.1&nbsp;to this Current Report on Form 8-K (this &ldquo;Current
Report&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">The
information in this Item 7.01, including&nbsp;Exhibit 99.1&nbsp;attached hereto, is furnished pursuant to Item 7.01 and shall not
be deemed &ldquo;filed&rdquo; for any other purpose, including for the purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the &ldquo;Exchange Act&rdquo;), or otherwise subject to the liabilities of that Section. The information in
this Item 7.01 of this Current Report shall not be deemed incorporated by reference into any filing under the Securities Act or
the Exchange Act regardless of any general incorporation language in such filing unless specifically provided otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.75in"><FONT STYLE="font-size: 10pt"><B>Item 9.01</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Financial Statements and Exhibits.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Exhibits:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 10%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Exhibit&nbsp;No.</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 0%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">99.1*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="ea132617ex99-1_livexlive.htm"><FONT STYLE="font-size: 10pt">Press release, dated December 30, 2020.</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 13.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Furnished herewith.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 13.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>LIVEXLIVE MEDIA, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">Dated: January 4, 2021</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 35%; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/&nbsp;<I>Robert S. Ellin</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Robert S. Ellin</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer and <BR>
Chairman of the Board of Directors</FONT></TD></TR>
</TABLE>
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<TYPE>EX-99.1
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<DESCRIPTION>PRESS RELEASE, DATED DECEMBER 30, 2020
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>LiveXLive Appoints
Vivendi Executive, Maria Garrido, to its Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">LOS ANGELES, Dec.&nbsp;30, 2020 --&nbsp;LiveXLive
Media&nbsp;(Nasdaq: LIVX) (&ldquo;LiveXLive&rdquo;), a global platform for livestream and on-demand audio, video and podcast content
in music, comedy and pop culture, and owner of&nbsp;PodcastOne,&nbsp;Slacker Radio&nbsp;and&nbsp;React Presents, announced today&nbsp;that
Maria Garrido has been appointed to the Company&rsquo;s Board of Directors.&nbsp; The appointment brings the total number of board
members to ten.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Ms. Garrido is a multilingual, multinational
executive with 24 years of experience in both operational and strategic roles in consumer goods, media, communications, and entertainment.&nbsp;
She is currently Senior Vice President of Brand Marketing at Vivendi Group (OTCPK: VIVEF) as well as Chief Insights Officer for
Havas Group, where she leads a team of more than 300 people in 40+ countries and is responsible for the global Meaningful
Brands study. Maria joined Havas in 2014 after 18 years of multi-national experience in North America, Latin America and Europe
holdings at various companies, most notably Colgate-Palmolive and Mondelez. She is a prolific global public speaker, having appeared
on Bloomberg news, The Guardian&rsquo;s Summit, Cartagena Inspira, Mumbrella Australia, South Tech Summit, World Retail Congress, APAC
Hall Healthcare Conference, IBC and IAB Mexico. She is a member of the International Women&rsquo;s Forum and Marketing World50 and has
also been a Media Jury member for Cristal Media Festival, Dubai Lynx, Cannes International Festival of Creativity, and President
Entertainment Jury Eurobest. Maria is fluent in French, Spanish and English.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Robert Ellin, LiveXLive Chairman and
CEO, commented, &ldquo;We are pleased to have Maria join the LiveXLive Board. Her experience and acumen in international marketing
and branding will be a welcome addition. I speak for our entire board in welcoming Maria to LiveXLive&rdquo;.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Maria Garrido commented, &ldquo;I am
thrilled to be joining the LiveXLive Board at such an exciting time for the Company and the entertainment business overall. LiveXLive
is visionary in its approach to artists, superfans and brands and is tirelessly committed to delivering enhanced entertainment
experiences. LiveXLive is also completely in sync with the increasing demands of audiences today and is already clearly laying
the groundwork for tomorrow&rsquo;s growth. I look forward to being a part of this exciting company. &ldquo;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">LiveXLive has the first talent-centric
platform focused on superfans and building long-term franchises in on-demand audio and video, podcasting, vodcasting, OTT linear
channels, pay-per-view (&ldquo;PPV&rdquo;), and livestreaming. Its model includes multiple monetization paths including subscription,
advertising, sponsorship, merchandise sales, licensing,&nbsp;and ticketing. LiveXLive recently raised revenue guidance for its
2021 fiscal year based on strength in its core businesses.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><U>About LiveXLive Media,
Inc.</U></B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Headquartered in Los Angeles, California,
LiveXLive Media, Inc. (NASDAQ: LIVX) (the &ldquo;Company&rdquo;) (pronounced Live &ldquo;by&rdquo; Live) is a global platform
for livestream and on-demand audio, video and podcast content in music, comedy, and pop culture. LiveXLive, which has streamed
over 1800 artists since January 2020, has become a go-to partner for the world&rsquo;s top artists and celebrity voices as well
as music festivals and concerts, including Rock in Rio, EDC Las Vegas, and many others. In April 2020, LiveXLive produced its
first 48-hour music festival called &ldquo;Music Lives&rdquo; with tremendous success as it earned over 50 million views and over
5 billion views for #musiclives on TikTok with over 100 performances. The Company&rsquo;s library of global events, video-audio
podcasts and original shows are also available on Amazon, Apple TV, Roku and Samsung TVs in addition to its own app, destination
site and social channels. The Company&rsquo;s wholly-owned subsidiary, PodcastOne, generates more than 2.1 billion downloads annually
across more than 350 podcast episodes per week.&nbsp; For more information, visit www.livexlive.com&nbsp;and follow us on&nbsp;Facebook,&nbsp;Instagram,&nbsp;TikTok,&nbsp;Twitter&nbsp;at
@livexlive, and&nbsp;YouTube.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><U>Forward-Looking Statements</U><BR>
</B>All statements other than statements of historical facts contained in this press release are &ldquo;forward-looking statements,&rdquo;
which may often, but not always, be identified by the use of such words as &ldquo;may,&rdquo; &ldquo;might,&rdquo; &ldquo;will,&rdquo;
&ldquo;will likely result,&rdquo; &ldquo;would,&rdquo; &ldquo;should,&rdquo; &ldquo;estimate,&rdquo; &ldquo;plan,&rdquo; &ldquo;project,&rdquo;
&ldquo;forecast,&rdquo; &ldquo;intend,&rdquo; &ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;seek,&rdquo; &ldquo;continue,&rdquo;
&ldquo;target&rdquo; or the negative of such terms or other similar expressions. These statements involve known and unknown risks,
uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed
or implied by such statements, including: the Company&rsquo;s reliance on one key customer for a substantial percentage of its revenue;
the Company&rsquo;s ability to consummate any proposed financing or acquisition and the timing of the closing of such proposed transaction,
including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing
of any proposed transaction will not occur; the Company&rsquo;s ability to continue as a going concern; the Company&rsquo;s ability to attract,
maintain and increase the number of its users and paid subscribers; the Company identifying, acquiring, securing and developing
content; the Company&rsquo;s intent to repurchase shares of its common stock from time to time under the stock repurchase program and
the timing, price, and quantity of repurchases, if any, under the program; the Company&rsquo;s ability to maintain compliance with certain
financial and other covenants; the Company successfully implementing its growth strategy, including relating to its technology
platforms and applications; management&rsquo;s relationships with industry stakeholders; the effects of the global Covid-19 pandemic;
changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company&rsquo;s subsidiaries;
and other risks, uncertainties and factors including, but not limited to, those described in the Company&rsquo;s Annual Report on Form
10-K for the fiscal year ended March 31, 2020, filed with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on
June 26, 2020, Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed with the SEC on November 16, 2020,
and in the Company&rsquo;s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof
and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that
all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><U>Press Contact:<BR>
</U>For LiveXLive: The Rose Group&nbsp;<BR>
Lynda Dorf<BR>
Lynda@TheRoseGroup.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><U>LiveXLive IR Contact:<BR>
</U>310.601.2500<BR>
ir@LiveXLive.com</P>


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