In a recent interview with American mainstream music publication Billboard, Robert F.X. Sillerman spoke candidly on his recent acquisition of Beatport for his company SFX entertainment.
“Look, Beatport has 40 million users, the majority of whom are not in the U.S.,” he said. “I don’t know how people value these things, but if you take a look at a business like Instagram (who are releasing a real polaroid camera), it only had 10 million users and no revenue. (at the time) So what are 40 million users with lots of revenue worth? If we paid $50 million, maybe it’s the bargain of all time.”
Chris Stephenson who acts as the CMO of SFX went into detail in how he plans to leverage the companies events with Beatport – “We’ll use the Beatport platform to help promote events, and the event audiences to help promote awareness of Beatport.” The plan is to use data including demography, buying preferences, and the songs, artists and genres they like in real-time.
“This is perfectly aligned with what Beatport has been doing for years,” says Adell. “The more data we have the more value we can create.” It’s almost like we are all entering a Big Brother house with their understanding of what cities like what acts. Spooky!