SFX Entertainment is a company led by media executive Robert F.X Sillerman who have finalized plans to buy a music download site Beatport. This marks the companies plan to build a $1 billion empire based around electronic dance music. Mr Sillerman declined to reveal the price he paid for the company but it is said he paid around $50 million.
Beatport was founded in Denver, USA nine years ago and has become the pre-eminent download store for electronic dance music with over a million tracks catalogued many of which are exclusive to the site. The site has nearly 40 million users. The site not only streams music but has features including a news feed, remix contests and DJ profiles. All of these features mixed together could help with Robert’s plan to unite the dance music fans through media.
Mr Sillerman stated ““Beatport gives us direct contact with the D.J.’s and lets us see what’s popular and what’s not. Most important, it gives us a massive platform for everything related to E.D.M.”