Billionaire investor Robert Sillerman buys Beatport

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As reported by The New York Times, Robert Sillerman – the US investor with a billion dollars to spend on EDM companies through his company SFX – has picked up Beatport. The Times quotes the price at a little more than $50 million, according to two anonymous sources “with direct knowledge of the transaction”.

“Beatport gives us direct contact with the DJs and lets us see what’s popular and what’s not,” Sillerman revealed in an interview. “Most important, it gives us a massive platform for everything related to EDM.” Matthew Adell, the chief executive of Beatport, added: “We already are by far the largest online destination of qualified fans and talent in the market, and we can continue to grow that.”

At Amsterdam Dance Event in 2012, one of the founders of Dutch promoters ID&T, Duncan Stutterheim, finally spoke about that the long swirling rumours of the sale of his company that produces Sensation, Tomorrowland and more. Industry talk suggested Sillerman was close to signing off a deal to add the Dutch company to his growing stable of events. Stutterheim confirmed the interest at ADE.

‘We used to joke to each that we would sell the company for a hundred – a hundred thousand guilders,” he said. “Then, a few months ago, suddenly someone from America wanted to give us a hundred. A hundred million dollars. The choice was very difficult. But we didn’t do it. I think that this company can continue for another twenty years, that we may go into the world.”

Whilst Stutterheim’s comments didn’t confirm SFX as the company behind the offer, they are on a widely-publicised spending spree at the moment, competing with Live Nation for dance promoters around the world.

In June 2012, SFX acquired Disco Donnie Presents, a promotion company specialising in events in middle America, for a reported $2 million, then added Florida-based Dayglow/Live In Colour in August, who put on paint parties. According to Sillerman, letters of intent have been sent to 18 additional EDM entities ranging from promoters to ticketing agencies to venues. Live Nation has so far snapped up Cream (with James Barton heading up the electronic division), and Gary Richard’s Hard Events in June.

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lawlietskyy

lawlietskyy said on the 27th Feb, 2013

Everybody, head over to juno or trackitdown. Let's band together and put this f*ckwit out of business, SPREAD THE WORD

dazza_b

dazza_b said on the 27th Feb, 2013

Or be a wanker (like myself) and buy vinyl

Mark James

Mark James said on the 27th Feb, 2013

Independent and Australian owned we (Future) will stay.
I wish I could say that about another festival promoting group :(

funkdupkat

funkdupkat said on the 27th Feb, 2013

$ 50 mill is to cheap sounds like a good deal

Errol Flynn

Errol Flynn said on the 27th Feb, 2013

@Mark James haha you dont like abit of healthy competition do you? i guess its your greedy nature.
dont stress youve cornered the mainstream poser wannabe roided topless meathead juiced up clueless arrogant angry coked muzza market.
you might be independent but you sold out years ago!

walkdogz

walkdogz said on the 27th Feb, 2013

vinyl & bandcamp for digital is where my money goes... beatport (and others) treats its customers like kids with 2 minute sample clips in low quality... the amount of times I thought a track was okay from that shitty little clip only to find they sampled the best bit and the song overall is average, and these tunes weren't on youtube to check.

CircusMidget

CircusMidget said on the 27th Feb, 2013

Mark James is the only father figure the Stafford Brothers have ever known.

sanejane

sanejane said on the 27th Feb, 2013

@Mark James. Have to agree with Errol! Sinking ship FMF probably staying independent cause anyone with money and sense would realise your companies a SHITE investment... Poor form FUTURE ENTERTAINMENT

MandBondi

MandBondi said on the 28th Feb, 2013

so now that youve mentioned this Mark james those rumours of you blowing all your money because an american company is going to be your new cash flow arent true? something smells fishy.

De-Gen

De-Gen said on the 24th Jul, 2013

Wow...is there anything he WON'T buy that's music related?