SFX Entertainment, Inc. is a name that is quickly growing among those involved in the electronic dance music (EDM) scene. Owned by Robert F.X. Sillerman, the recently created public company has seen the current extreme value in the EDM market and has taken action. SFX recently acquired the massive online electronic music store Beatport for $50 million. In addition to this acquisition, SFX also recently partnered with entertainment company Disco Donnie and acquired 100% of ID&T, the leading producer in dance music festivals and events around the globe.
Today, SFX and Clear Channel Media and Entertainment, the nation's largest radio network, announced a huge marketing and content partnership focused around the electronic dance music market. The partnership includes three key points: a national DJ/Producer contest airing on Clear Channel stations around the nation, a weekly Top 20 Beatport Countdown show, and a new, original live event series.
The national DJ talent contest is set to air live on Clear Channel stations nationwide as well as Evolution, a part of iHeartRadio. The winner will be given the opportunity to play at Mysteryland, the newest U.S. festival to hit the scene which takes place at the same grounds of the iconic Woodstock in New York. In addition, the winner will be granted a recording contract with Beatport and a major unannounced record label.
This new deal between SFX and Clear Channel is set to help both parties. If anything, more tickets will be sold and more promotions will occur for SFX's new U.S. music festivals like TomorrowWorld. For Clear Channel, this partnership will provide more, new content and talent in hopes that more young people will continue to listen to the radio. This partnership is Clear Channel's latest initiative to make inroads into the electronic music scene after creating Saturday night EDM shows on its biggest radio stations across the countries as well as hiring huge EDM superstars such as Skrillex and Calvin Harris to play the iHeartRadio festival in September.
"The demand for electronic music continues to increase across all of our platforms at Clear Channel," said John Sykes, president of Clear Channel Entertainment Enterprises. "This strategic partnership with SFX will give our audiences access to a deeper selection of music content and live events."
What are your thoughts on this new partnership?
[H/T: The Wall Street Journal]
Photo Credit: Zef Nikolla/NASDAQ OMX