EDM News: New York Times broke the news yesterday that the rumors about Sillerman buying Beatport were in fact true. The Yenta in us would love to know how much something like that really costs, but sadly Sillerman declined to say. But Times did report, albeit from someone “not authorized to speak about it” that the price was a little north of $50 million. Baller.
We’ve heard from more than a few people that Beatport isn’t actually the profitable company you’d expect given EDM’s popularity and their status within the dance music scene, so it’ll be interesting to see how Beatport develops from here. They’ve definitely been trying to make the site more of a destination for dance music lovers vs. something that strictly caters to working DJs.
“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.” -Robert F. X. Sillerman
“We already are by far the largest online destination of qualified fans and talent in the market and we can continue to grow that.” Matthew Adell, Beatport Chief Executive
You can read the full article here.
