May 3rd – Beatport up for Auction
It was pretty impressive when SFX was dominating every edm conquest, including its $50 million dollar purchase of Beatport in 2013. Now, the company will be up for auction in May offering, “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. These are all things that prospective buyers might find interesting, so while they carried a cost, the investment was clearly a worthwhile one. Now, a buyer can acquire these components of our platform without having to invest in their creation.”
Beatport stays optimistic of the auction, claiming “the chances of not finding a buyer highly unlikely.”
The best of luck to all involved in the process and hopefully this will be a sign of great things to come for the edm community.
For more details on the status, read Here’s what’s happening at Beatport after the SFX bankruptcy on Create Digital Music written by Peter Kirn.
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