russell Posted February 28, 2013 Posted February 28, 2013 Surprised no-one has posted this already. Beatport, one of the most popular online stores for fans of dance music, has been bought by SFX Entertainment, a company that has invested heavily in the dance music business over the past year. According to sources with direct knowledge of the deal, the company was sold for around $50 million."[With this purchase] you now have a great one-stop shop for consumers of dance music," says SFX Entertainment CMO Chris Stephenson.For many fans of dance music, Beatport serves as the Internet's front page. The website, which caters to DJs and dance music fans, has over a million high-quality songs in its store. It also hosts a blog, offers DJ playlists and keeps a chart of the most downloaded music on the site that has become a reliable indicator of trends in the ever-shifting genre. By the site's own estimate, it serves over 40 million users each year.Founded in 2012 by media mogul Robert F.X. Sillerman, SFX has spent the last year investing heavily in dance music, largely in the live concert business. Before its acquisition of Beatport, SFX already owned a slew of dance music promotion companies and events, including Disco Donnie Presents, which promotes over 100 annual events, and Life in Color (formerly Dayglow), which is one of the largest dance music tours in North America. Sillerman has said that he plans to invest a billion dollars into the dance music industry."We have some of the best festival brands in the world", says Stephenson, "and now we have the number one digital destination for fans of this music.""We are absolutely only at the beginning of what's going on here," adds Matt Adell, CEO of Beatport. "It's the end of the guitar and the beginning of the laptop. The vision of combining events and digital to create an electronic dance music ecosystem, not just music but video, news and other editorial is really what Beatport's always been about. Now with this partnership we can really unleash our innovative capabilities to build and develop those products globally." Quote
russell Posted February 28, 2013 Author Posted February 28, 2013 Sounds like another nail in beatports coffin for me.perhaps the beginning of the end for others (going by comments i've seen) Quote
eggssell Posted February 28, 2013 Posted February 28, 2013 why do you say its the end? i dont know SFX entertainment Quote
russell Posted February 28, 2013 Author Posted February 28, 2013 SFX have basically jumped on the 'EDM' bandwagon in America. Your not going to do that by maintaining a mainly underground focused music site. It's going to end up flooded with even more pish than whats already on it to appeal to the scenesters who have jumped on board. Quote
Mitch Posted February 28, 2013 Posted February 28, 2013 The music that is submitted to beatport depends on what labels submit stuff to them..Yes they may get a few of the larger, more commercial labels,, however i doubt smaller labels will stop selling music on there because of this.The music will still be there Quote
russell Posted February 28, 2013 Author Posted February 28, 2013 The music that is submitted to beatport depends on what labels submit stuff to them..Yes they may get a few of the larger, more commercial labels,, however i doubt smaller labels will stop selling music on there because of this.The music will still be thereyeah but it's not gonna be very enjoyable going through a mountain of shite. There are other places like junodownload, stompy, clone who will be much more suitable (already are IMO). Quote
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