The DJ world lit up yesterday over news that Pioneer would be sold and then exit the DJ business. There seemed to be confusion between Pioneer and Pioneer DJ, its DJ equipment subsidiary, which was spun off four years ago and translation issues regarding a sale that could impact its business. Well, good news: Pioneer DJ will remain in the business, regardless of its owner.
We reached out to a Pioneer rep and confirmed that regardless of a sale, Pioneer DJ will remain in the DJ business.
“While there are market speculations over Pioneer DJ’s shareholding, our mission to continue to innovate and inspire people globally will continue in 2019 and beyond,” says Pioneer in a statement. “We are committed to investing in the industry and inspiring creativity in DJs and artists through the support of product development and production. As a result, our business continues to demonstrate positive growth thanks to the ongoing support of our customers. We look forward to delivering more innovative products and a very exciting future in the electronic music industry.”
The message from that, no matter what happens with the sale, Pioneer DJ will still make DJ equipment. It’s owners may change, but the company won’t stop making equipment.
US private equity firm KKR bought a 85% stake in Pioneer DJ in 2015 for about $550 million. Now Pioneer and KKR are reportedly looking to sell Pioneer DJ to a new owner. According to the Pioneer rep, the sale is still under discussion and there is no news about potential buyers.
Pioneer has a 60-70% market share for mixer, turntables and other DJ equipment.