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EDM News

SFX Officially Buys Beatport for $50 Million

SFX Entertainment has continued to build its “EDMpire” with the recent purchase of the electronic music download website, Beatport. The deal to purchase Beatport went for slightly more than $50 million. Matthew Adell, head of Beatport, said the SFX will be able to help Beatport expand into live events as well as international. Robert Sillerman, CEO of SFX, initated the acquisition and said that “Beatport gives us direct contact with the D.J.'s and lets us see what's popular and what's not.”

Last year Beatport had $15-$18 million in revenue and has continued to grow year by year. SFX has been adding companies left and right as they have also acquired Dayglow Productions (World's Largest Paint Party), Disco Donnie Presents, Voodoo Experience and ID&T (Largest dance-event promoter in the world). SFX has also been rumored to be interested in purchasing Insomniac Events.

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