America's billion dollar dance spending spree

By now, America’s escalating interest in dance music – or “EDM”, as it’s known in that neck of the woods – is no secret. But it wasn’t until today that we found out exactly how much EDM is worth in the States: $1 billion.

Robert Sillerman, the man who started the largest touring company in the world Live Nation before selling to Clear Channel, has announced plans to spend a whopping US$1 billion on acquiring dance festivals and “DJ parties” over the coming year. The New York Times reported that Sillerman has begun the buying spree with a Louisiana-based rave company. Sillerman also revealed that he’s in negation with up to 50 other companies, 15 of which he already has “tentative agreements” with.

But it’s not just the US that Sillerman is interested in – the company purchased UK festival juggernaut Creamfields in May and he’s also eyeing off other markets as potential investments.

However, Sillerman’s spending habits isn’t the only EDM-centric conversation going on the US at present. Yesterday, chart troubler David Guetta stirred the pot when he told Rolling Stone that “I didn’t bring [EDM] to America. I just showed the people that were refusing to see it how big it is. I just made it acceptable.” In response, the Wall Street Journal came out spitting with the quip “Guetta and [Calvin] Harris are cliché-riddled, white-bread house that don’t represent the best of the genre.”

So what will Sillmerman’s buy-up spell for future festival line-ups? “I’m also confident that we will create a better experience for the fans,” assured Sillerman. Let’s hope so.