With faceless artists making disposable tracks based on anonymous samples for a dishonest percentage of a pathetic gross, it’s somehow appropriate that Beatport has a new owner who has declined comment and will probably continue to do so.
According to the New York Times, SFX Entertainment, led by Robert FX Sillerman, has purchased Beatport for “a little more than $50 million”.
Sillerman has gobbling up “EDM-related entities” at a ravenous pace over the last year; the NYT article specifically mentions Beatport’s “news” and editorial as a major draw for the new owner.
What this does to Beatport is an open question, but not the most interesting one. Sillerman appears to be building a sort of EDM version of the major label “360 deal”, in which record labels get a piece of concert draws as well as merchandising. In this case, an EDM promoter will get 50% of more or less every record an artist sells on Beatport in addition to booking that talent for SFX Entertainment events, promoting it in SFX-owned media and so on.
I think it’s Beatport’s “new genre” newsletter that made him buy it, frankly irresistible, and worth more than the alleged 50M
“In this case, an EDM promoter will get 50% of more or less every record an artist sells on Beatport in addition to booking that talent for SFX Entertainment events, promoting it in SFX-owned media and so on.” What BULL S***!!!
The promoter is already getting enough.. they do not need more… and this just continues to rob the artist, the DJ, and even a lot of record labels…
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[…] unprofitable while they owned it. Pre-SFX numbers have never been leaked but rumors at the time of SFX’s purchase of Beatport suggested the company was holding tens of millions in […]