Sillerman presided over EDM’s boom years in the early part of the decade. Robert F.X. Sillerman, the controversial mogul and founder of EDM company SFX Entertainment, has died at the age of 71 of a respiratory illness, Billboard reports. Sillerman, who was born in New York in 1948 and worked in the music and media…
Tag: sfx entertainment
Gary Richards’ new career move is running Electric ZOO
Early August brought along one of the biggest news bombs of 2017: the official departure of Gary Richards, lovingly known by his stage name Destructo, from HARD Events. Stirring the pot even more was his lack of involvement or presence at his crown jewel event of Holy Ship. Richards seemed quite collected and content about the…
BEATPORT LAUNCHES ‘LEFTFIELD HOUSE AND TECHNO’ GENRE CATEGORY
Beatport has added ‘Leftfield House & Techno’ as a new genre category. The new addition is Beatport’s latest attempt to separate more mainstream electronic music from underground productions, and features music from labels including American techno label The Bunker New York, DJ Haus’ Unknown To The Unknown and Craig Richards’ The Nothing Special. Speaking in…
SFX TO BECOME LIVESTYLE INC.
SFX TO BECOME LIVESTYLE INC. SFX has returned from its bankruptcy announcement with LiveStyle Inc. SFX Entertainment has come out from bankruptcy and has rebranded itself as LiveStyle Inc. It will go on with President and CEO Randy Phillips at the helm. The company continues to operate music properties like Life in Color, Mysteryland, and LIV…
Tomorrowland Brazil Cancelled for 2017, Looking Ahead to 2018
Tomorrowland Brazil Cancelled for 2017, Looking Ahead to 2018 The festival hellscape of 2016 seems to be continuing into 2017, and the news for SFX continues to be bleak. If you saw the news last night, TomorrowWorld is almost certainly not returning in 2017. Besides that, we also mentioned the sad speculation that Tomorrowland Brazil…
JUDGE APPROVES SFX ENTERTAINMENT REORGANISATION THAT CUTS DEBT BY $400 MILLION
JUDGE APPROVES SFX ENTERTAINMENT REORGANISATION THAT CUTS DEBT BY $400 MILLION SFX Entertainment has reportedly had a plan to reorganise the business approved by a judge, which will cut the company’s debt by $400 million (£320m). The Wall Street Journal reports that the decision will see the company recover from nine months of bankruptcy. SFX…
FORMER AEG LIVE HEAD RANDY PHILLIPS TO REPLACE ROBERT SILLERMAN AS CEO OF SFX
FORMER AEG LIVE HEAD RANDY PHILLIPS TO REPLACE ROBERT SILLERMAN AS CEO OF SFX Former AEG Live CEO Randy Phillips might be appointed head of SFX Entertainment. The chapter 11 bankruptcy court proceedings for electronic music conglomerate SFX Entertainment have gone less than smoothly, but a proposed leadership switch may change matters. Sources informed The…
SFX Encounters New Financial Woes
SFX Encounters New Financial Woes SFX Entertainment just cant avoid bad luck. The large corporation has been in the news quite a bit recently but for all the wrong reasons. Debt, failing business ventures and bankruptcy is all we have heard about SFX the past couple years. A plan was set up for SFX to…
Beatport’s Auction Delayed To May 26th
Beatport’s Auction Delayed To May 26th SFX Entertainment, owner of famous download store and streaming service Beatport, has pushed back the date of Beatport’s auction from May 5 to May 26. “At the request of interested parties who require more time to finalize their bids, we have agreed to reschedule the Beatport sale hearing to…
Armin Only Australia Latest Victim in SFX Troubles
Armin Only Australia Latest Victim in SFX Troubles SFX continues to leave lots of unhappy ravers in its wake. You’ve heard aboutTomorrowWorld and you’ve heard about Spring Awakening‘s troubles. We also told you about Stereosonic and its troubled owner Totem OneLove that in turn is owned by SFX. Well Stereosonic is not the only thing…
SFX Entertainment To Auction Off Q-Dance
SFX Entertainment To Auction Off Q-Dance When SFX Entertainment first declared bankruptcy in 2016, people were unprepared for the upset that it would cause in the entertainment industry. SFX, being one of the largest corporate conglomerates in dance music, has been behind some of the most popular brands and largest festivals dance music, and it…
SFX Puts Flavorus on the Auction Block
SFX Puts Flavorus on the Auction Block Bad news everyone… SFX Entertainment just can’t seem to catch a break this year. If declaring bankruptcy, cancelling multiple music festivals, having its own CEO step down, and even being court ordered to pay Artists upfront weren’t enough for you, it seems as though SFX is going to…
SFX FORCED TO RESERVE $15 MILLION SPECIFICALLY TO PAY ARTISTS
SFX FORCED TO RESERVE $15 MILLION SPECIFICALLY TO PAY ARTISTS Good news for artists could mean bad news for SFX. A large amount of money that the company could have really used to stay afloat has been ordered by U.S. Bankruptcy judge Mary Walrath to be allocated specifically to pay artists at SFX festivals and…
SFX LAYS OFF 50 EMPLOYEES IN LATEST BANKRUPTCY RESTRUCTURE
SFX LAYS OFF 50 EMPLOYEES IN LATEST BANKRUPTCY RESTRUCTURE After filing Chapter 11 bankruptcy, SFX has made the decision to lay off 50 employees from their New York offices as part of their restructuring efforts. The news comes just days after Robert Sillerman’s official resignation from CEO, and shortly after the announcement of Stereosonic’s cancellation….
STEREOSONIC HAS BEEN CANCELLED PERMANANTLY FOLLOWING FESTIVAL DEATHS
STEREOSONIC HAS BEEN CANCELLED PERMANANTLY FOLLOWING FESTIVAL DEATHS Australia’s leading music festival, Stereosonic, is reported to be permanently cancelled, as stated by The Daily Telegraph. According to the article, event organizers Totem OneLove, which is owned by SFX Entertainment, “are understood” to have been forced to cancel the festival due to a pair of deaths during…
SFX CEO Robert Sillerman Officially Steps Down
SFX CEO Robert Sillerman Officially Steps Down Robert Sillerman‘s last day of acting CEO ended earlier this week after an announcement on March 29th. Even though he stepped down as Chief Executive Officer, he will remain Director of the Board. This news comes to no surprise after the public discovered that SFX filed for Chapter 11…
Robert Sillerman’s parting words as he officially steps down as CEO of SFX
Robert Sillerman’s parting words as he officially steps down as CEO of SFX On March 29, just two days before Robert Sillerman officially stepped down as CEO of SFX Entertainment, the music mogul shared his parting words with the company’s staff. In an emotional letter – perhaps the most honest thing Sillerman has written to date — he acknowledges…
BEATPORT OFFICIALLY GOES UP FOR SALE, SEVERAL BUYERS INTERESTED
BEATPORT OFFICIALLY GOES UP FOR SALE, SEVERAL BUYERS INTERESTED SFX has officially begun the process of auctioning off online store Beatport, following the service’s loss of over $5 million in revenue and a prior statement that initial negotiations would begin in April. Earlier this month, the parent company revealed that in order to quell some of their heavy financial…
DID GOOGLE JUST LEAK THE DATES FOR TOMORROWWORLD 2016?
DID GOOGLE JUST LEAK THE DATES FOR TOMORROWWORLD 2016? The last time we checked, the fate of TomorrowWorld 2016 was still hanging in the balance. In a public press release sent out concerning SFX Entertainment’s declaration of Chapter 11 bankruptcy, Tomorrowland spokesperson Debby Wilmsen noted that “no concrete plans have yet been made for TomorrowWorld…
ROBERT SILLERMAN ASKS JUDGE TO PAUSE LAWSUIT, NEEDS TO FOCUS ON RESTRUCTURING SFX ENTERTAINMENT
ROBERT SILLERMAN ASKS JUDGE TO PAUSE LAWSUIT, NEEDS TO FOCUS ON RESTRUCTURING SFX ENTERTAINMENT Sillerman calls time-out on class action lawsuit to focus on SFX SFX Entertainment filed for bankruptcy and wiped nearly $300 million in debt, but if the company is to continue operating into the future, some major restructuring needs to take place….
BEATPORT RECORDED $5.5 MILLION LOSS IN 2015
BEATPORT RECORDED $5.5 MILLION LOSS IN 2015 With the SFX financial troubles, this does not come as a surprise According to reports, the online music retailer Beatport recorded a loss of $5.5 million in 2015. The company was purchased by SFX Entertainment in 2013 for the sum of $50m. Now, Billboard reports that it’s revenue…
SFX Entertainment Is $490 Million In Debt
SFX Entertainment Is $490 Million In Debt SFX Entertainment has been in the news quite a bit lately and for good reason. After filing for Chapter 11 bankruptcy, getting rid of $300 million in debt and receiving $80 million in loans, SFX Entertainment still owes over $490 million to creditors. Of the $490 million that…
SFX owes millions to Made Events, React Presents and more
SFX owes millions to Made Events, React Presents and more Earlier this month, SFX officially filed for Chapter 11 bankruptcy, entering a Restructuring Support Agreement and erasing their $300 million worth of outstanding debt. Now, however, their list of creditors has been revealed, showing the breadth of companies still waiting for their deferred purchase payments. As IQ Mag…
SFX GIVEN $80 MILLION IN BANKRUPTCY LOAN
SFX GIVEN $80 MILLION IN BANKRUPTCY LOAN At the start of this month, SFX Entertainment filed for chapter 11 bankruptcy in what seemed like the final nail in the coffin, but they’ve now been granted an $80 million loan – quite a tidy sum indeed. SFX has also entered into a Restructuring Support Agreement which…
BEATPORT RESPONDS TO SFX FILING FOR BANKRUPTCY: “HERE AT BEATPORT, IT’S JUST BUSINESS AS USUAL”
BEATPORT RESPONDS TO SFX FILING FOR BANKRUPTCY: “HERE AT BEATPORT, IT’S JUST BUSINESS AS USUAL” Beatport urges the public that everything is normal In response to SFX Entertainment filing for bankruptcy, Beatport, which is owned by SFX, has released an official statement. For all of us here at Beatport, it’s just business as usual. That…
The Future Of TomorrowWorld Is In Jeopardy
The Future Of TomorrowWorld Is In Jeopardy By now you already know the bad news, and that is that SFX has filed for Chapter 11 Bankruptcy protection. We told you this on an optimistic note, with the caveat that all festivals would be safe. However, we subsequently learned that the story is much more complicated…
SFX Files for Bankruptcy Protecton; Sillerman Removed as CEO
SFX Files for Bankruptcy Protecton; Sillerman Removed as CEO UPDATE: According to a statement from Tomorrowland spokesperson Debby Wilmsen, given to Georgia Unfiltered, the future of Tomorrowland is safe; the same cannot be said about TomorrowWorld. “Both the festival in Boom (Belgium) and the one in Itu (Sao Paulo, Brazil) will go ahead without any…
SFX ENTERTAINMENT SETTLES LAWSUIT CLAIMING CEO ROBERT SILLERMAN STOLE COMPANY’S IDEA
SFX ENTERTAINMENT SETTLES LAWSUIT CLAIMING CEO ROBERT SILLERMAN STOLE COMPANY’S IDEA With one settlement reached, there are more problems looming for SFX Entertainment and CEO Robert F.X. Sillerman As SFX Entertainment attempts to pull itself back together after a tumultuous year in 2015, the company has recently reached a settlement regarding a lawsuit claiming CEO…
SFX’s Bumpy Ride Continues With $20 Million in New Financing
SFX’s Bumpy Ride Continues With $20 Million in New Financing The financing follows an announcement that SFX defaultd on a $10.8 million loan. SFX Entertainment’s financial saga took a couple turns this week when the company followed up a loan default with the announcement of new financing. The troubled EDM promoter revealedFriday it raised $20…
JAMES BARTON OF LIVE NATION TO JOIN SFX ENTERTAINMENT
JAMES BARTON OF LIVE NATION TO JOIN SFX ENTERTAINMENT SFX directors reportedly unhappy with CEO Robert F.X. Sillerman Reports are coming in that James Barton has landed a “senior role” with SFX Entertainment. The head of electronic dance music at Live Nation will look to add his expertise in order to right the sinking ship…
SFX Earnings More Downtempo Than Upbeat
SFX Earnings More Downtempo Than Upbeat Third-quarter attendance rose 25 percent while net loss doubled to $54.4 million. The problems that plagued September’s TomorrowWorld festival didn’t help SFX’s third quarter, but they didn’t hurt too much either. SFX took a $4 million hit from canceled or partially canceled events as earnings fell 7 percent to $133.2 million,…
Elite Daily Shows Why TomorrowWorld and DreamVille Are Can’t-Miss Opportunities In New Documentary
Elite Daily Shows Why TomorrowWorld and DreamVille Are Can’t-Miss Opportunities In New Documentary Fresh off of the conclusion of the third running of the festival, TomorrowWorld is showing the world why they’re still considered one of electronic music’s premier festivals. Few events can compete with the sheer size and production of TomorrowWorld, but the SFX-produced…
SFX OWNER ROBERT SILLERMAN GETS SUED…AGAIN
SFX OWNER ROBERT SILLERMAN GETS SUED…AGAIN Robert Sillerman just can’t catch a break in 2015. Just when news broke that Sebastian Solano was named the new CEO of ID&T: North America and Made Event, more news of legal trouble for the company followed shortly after. Over the past few months, Sillerman has been desperately trying…
Life in Color’s Sebastian Solano Appointed CEO of ID&T: North America
Life in Color’s Sebastian Solano Appointed CEO of ID&T: North America There’s finally some good news coming out of Camp SFX. The entertainment empire named Sebastian Solano, Founder & CEO of Life in Color, as the new CEO of ID&T North America/Made Event. Solano is responsible for Life in Color, the Miami-based company that began throwing…
WHO WANTS TO BUY BEATPORT?
WHO WANTS TO BUY BEATPORT? AUGUST 17, 2015 BY TIM INGHAM SFX Entertainment boss Robert Sillerman was supposed to have taken the company private by now – but it hasn’t happened. Sillerman missed his deadline on Friday (August 14) to buy the 62% of SFX he doesn’t currently own for $774m. However, he clearly didn’t…
BEATPORT FREEZES PAYMENTS TO LABELS – AND GIVES ARTISTS JUST 5% OF STREAMING MONEY
BEATPORT FREEZES PAYMENTS TO LABELS – AND GIVES ARTISTS JUST 5% OF STREAMING MONEY AUGUST 5, 2015 BY TIM INGHAM Beatport has written to labels telling them it won’t be paying owed royalties for the past quarter until its parent, SFX Entertainment, completes its ‘going private’ process. In a letter to music rights-holders sent…
