EDM HIts WAllStreet SXi Ent.
It’s official EDM IS on Wall Street! Robert Sillerman AKA “Mr. LIVE NATION” recently created SFX Entertainment to focus on EDM and capitalize on it’s rapid growth. SFX has been on a acquisition mission over the last year or so, acquiring Beatport, Tomorrowland, Disco Productions, Sensation and other major EDM players. SFX Entertainment has been in negotiations with as many as 50 other promoters in the U.S. and abroad with tentative agreements with about 15 of them.Well, business must be good because today SFX Media mogul Robert Sillerman filed paperwork from SFX Entertainment, for an initial public offering (IPO) on NASDAQ is projected to raise more than $200 million, with shares of nearly 17 million ‘SFXE’ initially landing in the $11 to $13 range. They also filed a request to be listed on the NASDAQ Global Market under the symbol SFXE.
Will this effect EDM in a major way, Will EDM become mainstream? SFX Entertainment’s Media mogul Robert Sillerman said that
“plans for SFX is still being developed, but will likely attempt to use the Internet to connect dance music fans while leveraging the community to drive advertising and sponsorship revenue.”
“There’s a wave of interest in attending concerts that have less to do with the specific music and more to do with the experience attached to the music,” Sillerman told the Times. “Our thought is that the experience of attending an individual event can be perpetuated and made better by connecting the people, not just when they’re consuming the entertainment but when they’re away from it.”
Info Via: thenewyorker.com | NASDAQ.COM | HYPEBOT.COM