Multiple sources have confirmed that Beatport has laid off its entire engineering team based in the company’s San Francisco office. In addition to shuttering the SF office, twenty employees were also let go at Beatport Headquarters in Denver. Both these moves come after the company posted a $1 million dollar operating loss during Q3 2013. SFX, which acquired Beatport earlier this year, is currently in the process of streamlining by cutting teams that are not profitable. In lieu of the news, SFX has released the statement below:
“With the additional resources provided by SFX, we are making significant new investments in Beatport and focusing on providing the best possible experience for our users – the DJ, the producer, the labels and the entire Electronic Music Culture community. To allow us to adapt and improve our service, it was necessary to make some organizational changes. We have closed our San Francisco office, reorganized our engineering team, and cut some positions in Denver. Beatport has always been about innovation and connection and these moves allow us to focus on that. With the recently announced acquisitions of PayLogic and Arc90, this refocus on maximizing Beatport as the definitive site for everything related to Electronic Music is indicative of our commitment to igniting the simmering Revolution of this astounding movement, Electronic Music Culture. We look forward to unveiling a number of exciting new technology initiatives in 2014.”
Beatport currently has a shell of its former team left to maintain non-store departments and the remaining members are currently being managed by Arc90 app development team, another recent acquire by SFX Entertainment.
Roberto Medina announced today that Rock In Rio will hit Las Vegas in early May 2015, spanning 4 days and attracting approximately 80,000 attendees. Medina also mentioned that the festival could potentially expand to 6 days in 2017 and hinted that the festivities will take place in the main resort area and will not be separated from the city center. This news comes after SFX announced the acquisition of a 50% stake of Medina’s Rock In Rio on Friday, a move which officially makes SFX the main partner of the festival in the place of IMX, a company owned by Brazilian billionaire Eike Batista and IMG. May is already a big month for Las Vegas as Memorial Day checks in as one of the highest revenue earning weekends of the year. With the Brazilian festival choosing the Strip for its U.S. debut, it looks as if things got a little bigger.
A week after announcing its purchase of German promoter i-Motion for $21 million, SFX expanded its empire with a 50% purchase of Roberto Medina’s Rock In Rio. The festival is best known for rock music in Rio de Janiero bringing in talent such as Beyonce, Justin Timberlake, Bruce Springsteen, and David Guetta. Although, no official dollar amount has been disclosed, SFX Entertainment has entered into an option agreement in a newly formed company that will own all assets and operations of Rock In Rio. This partnership will allow Rock In Rio to take place in the United States in 2015. In a recent interview with Billboard, when Robert Sillerman was asked if SFX was back in full acquisition mode he answered with “save space because we’re just getting started.”
Robert Sillerman’s SFX Entertainment has just acquired German dance event promoter i-Motion. The acquisition was in the works this summer (pre-IPO), but has just recently been finalized. The company operates eight festivals spanning across Germany, Poland, and Belarus, most notably the famous Nature One festival, which boasts a crowd of approximately 65,000 attendees and has been produced since 1995. i-Motion also lists 20 media partners and 23 brand sponsors including MTV, Radio1LIVE, Coca-Cola, and Phillip Morris. Following the 100% acquisition of ID&T just last month and the addition of i-Motion to its ever-expanding list of properties, SFX has established a firm stranglehold on the European festival market.
Gear up folks, it looks like two of Vegas’ biggest nightlife connoisseurs, Cy Waits and Cory McCormack, will “take their talents” to South Beach starting this December. The newly developed Adore Nightclub, located beside the beautiful Boulan Hotel on the famous Collins Avenue, has set its grand opening during Art Basel from December 5th through the 8th. Adore will be Miami Beach’s first brand new venue to open its doors in nearly a decade and comes fully equipped with exquisite decor, 12,000 square feet of space, a Funktion-One sound system, and custom 3D LED sphere.
Both partners come from prestigious backgrounds; Cy Waits was formerly the managing partner of XS Nightclub inside of the Encore hotel (alongside twin brother Jesse Waits), Drai’s afterhours in Bill’s Gamblin Hall and Saloon Las Vegas, and Drai’s Hollywood in the W Hotel while Cory McCormack of Ocean First Group was the mastermind of nightlife in the Hard Rock Hotel Las Vegas and is widely credited for the success of Body English, Rehab, and Wasted Space.
Joining these two as the Talent Buyer of Adore will be Alex Omes, a co-founder and former partner of Ultra Music Festival, and the face of the Surfcomber and Clash pool parties at the SLS Hotel.
With Adore’s presence destined to heat up the already ultra-competitive South Beach nightlife scene, dance fans the world over should look forward to a Vegas-caliber nightlife experience during their yearly pilgrimage to Miami Music Week.
Fresh off his remix of Kaskade’s “Atmosphere,” Hook N Sling pairs with dance juggernaut Empire Of The Sun to create “Celebrate.” The Australians blend gentle vocals with a melodic bassline to create a simple yet soothing chorus that creates a relaxed mood. The piano riff leads into a synth laden build up that isn’t your normal progressive “drop,” but still yields a very danceable undertone. This collaboration goes to show that the dance scene has been emerging in full force from the land down under, and “Celebrate” reinforces that Australia and Australian artists are looking to make some serious waves from here on out. “Celebrate” will hit stores on December 20th along with a remix from Tommy Trash.
Release Date: December 20th
Live Nation turned a third quarter revenue of 2.26 billion setting a new company record. This marks a 15-percent increase from the previous quarter and a strong 2013 showing which Live Nation CEO Michael Rapino describes as “the best nine months for revenue and AOI for the company.” Live Nation’s concert business looks to be moving forward extremely well, with an engaged consumer base spanning across various festivals, especially those in the electronic and country music spheres. According to Rapino, the reason for the growth is that both the US and Europe are “firing on all cylinders” when it comes to festival size, promotion and engagement. In previous years, the European concert market was lagging leading to slow growth and diminishing returns, his year however, both markets have shown substantial growth.
Live Nation anticipates this upward trend to continue through to 2014 and expects to deliver high single digit growth in both revenue and adjusted operating income, while also achieving double digit growth in brand sponsorships and advertising revenue.
Via: Billboard Biz
Hailing from Utrecht, Netherlands, Indian jumpstart Wiwek releases his latest EP on Rising Music. Previously he has worked alongside Gregor Salto to create “Intimi” which was released on Laidback Luke’s imprint MixMash Records. Wiwek masterfully blends elements of standard Dutch bleeps with rhythmic tribal beats evoking a jungle flavor that is refreshingly new and hasn’t been used enough in the recent past. With the FOK EP laying a strong foundation for the breakthrough producer, Wiwek joins Yellow Claw as two of the upcoming acts to keep a close eye on into 2014.
According to Billboard, YouTube is close to launching a two-tiered (free/premium) subscription service with video that aims to be a direct competitor with Spotify. The service’s free tier will likely allow unlimited access to full tracks on all platforms, while the paid tier will allow you to cache music for offline listening with no advertisements.
YouTube’s parent company, Google, has already secured licenses from Warner Music Group, Sony Music Entertainment, and Universal Music Group in preparation for the launch of the new service. In order to hit the market before the upcoming Beats Music platform, the service hopes to launch by the end of the year with a re-designed mobile application that will allow users to create playlists, listen to music and watch videos in one cohesive experience.
Many avid YouTube visitors actively use the pre-existing service as a music discovery and streaming platform and this new addition should drastically improve both experiences simultaneously.
Via: Billboard Biz
As the dance music explosion becomes a global phenomenon, many of the biggest festival promoters have started to expand into previously untapped markets in an effort to unearth a new legion of fans as they spread throughout the world. Ultra Worldwide has announced their phase 1 lineups for both South Africa and their newest event, Ultra Japan. The South African installment will take place on February 14th and 15th of this upcoming year and will be appearing in Cape Town and Johannesburg respectively. The headliners include Tiesto, Alesso, Nicky Romero, Krewella, and W&W, among others. Tickets will be available for purchase on Friday, November 1st via www.computicket.com. Prices will range from R600 p/p – R1100 p/p.
Ultra has also announced that they will be entering the Japanese market with a festival event in Tokyo that takes place on December 20th. Above & Beyond and Showtek are the two main headliners, while many standout Japanese acts will fill out the rest of the roster.
Purchase Tickets: Here
View the flyers.