Electric Zoo, Tomorrowworld, Mysterland. All these are well-known electric dance music (EDM) festivals that provide a chance to blow off some steam for a day or three. They all belong to ID&T, where SFX Entertainment has the 75% stake. SFX, which was founded by media mogul Robert F.X. Sillerman in 2011, is one of the nation’s largest producers of live music events and has a particular focus on EDM culture.
The company’s original incarnation was established in the 1990s, and grew through the strategic acquisition of various regional concert promoters across the country. After its sale to Clear Channel in 2000 and subsequent spin-off as Live Nation, it became the largest live events company in the world.
In June 2012, Sillerman revived the SFX brand for a new company; the new SFX follows a similar consolidation-oriented business model to the original incarnation, except with a focus on the growing EDM industry. Among its holdings are various EDM promoters, including a majority stake in the major Dutch promoter ID&T, several nightclubs in the Miami area, and ownership of the EDM-oriented online music store Beatport. In February they bought Beatport for just north of $50 million.
Made Event, founded and run by Mike Bindra and Laura De Palma, has been working on events in New York for years. Their main endeavour in recent times has been Electric Zoo, the three-day festival held yearly on Labour Day weekend in New York City. They say in their website:
We are happy to announce that Made Event has been acquired by SFX Entertainment, the world’s largest producer of live events and entertainment content focused primarily on electronic music culture.
For over a decade our goal has been to present the music we love in exciting environments, with state-of-the-art production, and attention to detail. We are proud of what we do, and thankful to you, the fans that enjoy our events and electronic dance music as much as we do.
Although Electric Zoo will continue to be developed by the same team that has been on board since its inception, being part of something larger provides us with many new opportunities, like exciting technology that will improve the festival experience both online and at our events, creative collaboration with other SFX companies, and bringing Electric Zoo to new locations around the globe.
The acquisition of Made is strategically important for SFX, as it establishes a strong foothold for us in the New York City region. CEO Sillerman said in a statement Monday morning.