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LiveOne Pays $3M From ‘Social Gloves’ Proceeds to Settle Lawsuit With Austin McBroom

The settlement ends LiveOne's $100 million defamation lawsuit against the YouTuber over his fight with a TikTok star.

YouTuber Austin McBroom has settled a pair of lawsuits with pay-per-view provider LiveOne, formerly known as LiveXLive, over the financial fallout from Social Gloves: Battle of the Platforms. LiveOne has agreed to pay $3 million of the proceeds from the event to “applicable payees” owed money for their participation in the boxing match pitting YouTubers against TikTok stars. The settlement ends McBroom’s breach of contract lawsuit against LiveOne as well as LiveOne’s $100 million defamation lawsuit against McBroom.

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The case was settled at the end of 2021, according to SEC filings posted Feb. 14. In December, an attorney for TikTok star and singer Tayler Holder confirmed that Holder had settled his  $2 million lawsuit with McBroom earlier that month.

“LiveOne is extremely proud of the success of this pop-cultural music and sports hybrid event,” a statement provided to Billboard from LiveOne reads. “We are thrilled to close this chapter with Simply Greatness and look forward to announcing more exciting news about LiveOne’s next music and sports event shortly.”

The pay-per-view boxing match featuring top social influencers including  a bout between TikTok star Bryce Hall and McBroom was held at Hard Rock Stadium in Miami Gardens on June 12 and featured performances by DJ Khaled, Lil Baby, Migos, and Trippie Redd. Lil Baby and NBA star James Harden were investors in the event, hyped as one of the largest social media events of the year. McBroom would defeat Hall in the third round of the fight via technical knockout and it would later be revealed that Austin McBroom was owner of the company staging and promoting the fight. McBroom projected more than 1 million in PPV sales at $50 apiece, plus fees, and $5 million in projected sponsorship sales, generating as much as $62 million in total but missed the sales target and only generated $6.5 million in revenue and $10 million in unpaid expenses.

In July McBroom filed a breach of contract lawsuit against LiveOne alleging he had not been paid any of the proceeds generated from the fight. One day later, LiveOne filed a $100 million defamation lawsuit against McBroom. The lawsuit also alleged a breach of contract “based on SGP’s willful failure to collaborate with us on marketing the Event resulting in poor ticket sales which, in turn, meant reduced fees to us. The complaint further alleged fraud and intentional interference with prospective economic advantage,” LiveOne officials wrote in a financial filing with the SEC.

The settlement comes two weeks after LiveOne declared victory in its lawsuit with former executive Barry Regenstein after a judge dismissed 15 claims for monetary relief asserted against LiveOne. LiveOne has filed a motion to have Regenstein’s counsel sanctioned and to pay LiveOne’s legal fees incurred in connection with defending two of the cases causes of action.