Now, a buyer can acquire these components of our platform without having to invest in their creation. These are all things that prospective buyers might find interesting, so while they carried a cost, the investment was clearly a worthwhile one. First, we invested in several new features and products such as a streaming music platform, an expanded media property, launched a Dutch localized version of the site, and increased our attention to video. Last year’s loss was a result of two things. What about losses reported during SFX’s ownership, as part of the SFX bankruptcy following – can you comment at all on what the source of these losses were? However, we are assured that payments have been on schedule since then and continue to be. Yes, the sale process has no effect on label payments.Įd.: Beatport did not respond to CDM’s request for comment as far as the payment delays last summer. Those should continue without issue during the sale? Payments to labels I understand are now back on track. Nothing is going to change as a result of the sale process. The site will continue to be fully supported. What will happen on Beatport the site during this process? The level of interest speaks directly to the value of Beatport and makes the chances of not finding a buyer highly unlikely.
None of this can answer what will happen following the sale, but it does provide some picture of the state of Beatport today.ĬDM: Can you explain to our readers what happens now that SFX is selling Beatport? There are a defined number of buyers now that have signed NDAs? (I know the identity of the buyers, in turn, can’t be indicated.) What happens if they don’t find a buyer?īeatport: We’ve been contacted by, and are in discussions with, numerous companies interested in Beatport’s complete platform (store, streaming, video, etc.). I spoke to a Beatport spokesperson to find out what has changed and what they’re working on – and what this sale may mean for you. Since the fall, the site has already been seeing some under-the-hood changes intended to improve the experience for users. And the core assets at least have been big revenue centers not only for Beatport itself, but for labels – including many tiny labels – that sell on the store.
#Beatport pro forum software#
The combination of streaming with a store, the deep label catalog and navigational tools, the Beatport Pro desktop client and DJ software integration, the mobile apps – Beatport is more ambitious in what it provides than any rivals. There’s simply no other property that provides what Beatport does for its particular niches. (CDM asked why that was see the answer below.)īut there’s a lot of reason to think Beatport is valuable to a would-be buyer – as it is to many of us making electronic music. Revealed in those bankruptcy filings, Beatport did lose money, too. With controversy and allegations of mismanagement swirling around SFX brass, I think most producers will find the Beatport sale to be good news. There are questions about how SFX implemented its plans, but there’s also a real sense that they were pointed in the wrong direction to begin with. The sprawling multi-faceted agency structure SFX devised lost money and created confusion, and acquisitions like Beatport seemed to do worse under SFX ownership than before. Losses at the festivals racked up, and the brands and advertisers who were supposed to deliver much of the new revenue never really materialized. So, what went wrong? Well, the short version is covered by Billboard in their February analysis of the SFX bankruptcy filing. SFX was going to own the festival, the ticketing, the site you visited to learn about the artists, even things like the agency building an app you used at the show or that did visuals onstage.
As I put it in December 2014, the idea was all about synergy. SFX had a sprawling vision for Beatport and its other purchases. It just means new ownership and freedom from SFX, very soon – and meanwhile, the company is operating independently.
(SFX first acquired the company back in 2013 for $50 million, then launched streaming in 2014.) For now, that has no impact on you: Beatport is up and operating normally, labels are getting paid, and so on. SFX Entertainment is putting Beatport up on the auction block, with the sale date set for May 3. Meanwhile, the biggest player in dance music, Beatport, is about to be untethered from the EDM conglomerate that bought it. The media landscape is changing, from Apple moving to streaming and adding content on Apple Music and Apple TV, to SoundCloud adding paid subscriptions and signing deals with majors.
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