SFX Entertainment recently announced several significant changes to its top-tier staff. The multi-billion dollar corporation known for igniting “The EDM Arms Race” in 2012 by buying out such industry-leading names as ID&T, Disco Donnie Presents and The Opium Group will see both arrivals and departures of key players.
The most noteworthy addition to SFX’s team will be Greg Consiglio, who will act as president and COO of the company after having served as both for SFX-owned marketing platform Viggle. Kevin Arrix will transition similarly into the position of vice president and chief revenue officer. SFX’s Tim Crowhurst and Ritty Van Straalen will be promoted to the positions of head of strategic development and CEO of live entertainment, respectively. Entertainment chairman Joe Rascoff and chief marketing officer Chris Stephenson will leave the company for outside positions.
SFX Entertainment’s founder, Robert Sillerman, said of the changes, "These organizational changes add fuel to the excitement now upon us. This will permit individuals to be hyper-focused on making sure all our constituencies are well served.” The word on Wall Street may indicate otherwise as following the announcement, SFX shares closed at an all-time low of $3.40 after opening at $3.74.
SFX Entertainment is actually the second music corporation started by Sillerman; he famously founded a separate company of the same name in 2000 and sold it to Clear Channel, who then rebranded it as Live Nation.