After news surfaced on Monday of what sources reported as a "bloodbath" at the Beatport offices, SFX president Tim Crowhurst spoke to Billboard regarding the recent layoffs.
Crowhurst said “the hard conclusion we had to make on Beatport is that we were spread a bit too thin. We had to make some hard choices, frankly, to restructure the team and get everyone focused on one vision.”
MAGNETIC RECOMMENDS:SFX Layoffs At The Beatport Offices
According to Crowhurst, this vision includes making Beaport "more of a product-focused company as opposed to an engineering company. We’re very focused on creating end-products that the community and all of our constituencies are going to love."
Despite a rumored layoff of 26 engineers and the closure of their San Francisco offices, the SFX president explains “This shift is more about product vision than it is cost savings. We’ve got a pretty exciting roadmap that will leverage some of the best technology out there to essentially create a new future for this industry.”
“We see a really massive opportunity in this space to fill,” he goes on to say. “It’s a widely fragmented industry in terms of where people get their news and information, where they discover content, where they listen to content, where they discover events and where they buy tickets. Our vision is to create a much more cohesive experience for the fan and every piece here has a significant role to play.”
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