SFX buys Beatport, Tomorrowland, Sensation, Insomniac, Donnie Disco Presents, and your Daughters Virginity
Robert Sillerman, owner at SFX which turned Live Nation, said he would be spending close to $1 billion acquiring EDM promoters and producers, and is well on his way to spend above that this year. Having already acquired Donnie Disco Promotions, Cream Holdings LTD (Creamfields), Voodoo Experience, Dayglow Productions, HARD events, and the famous ID&T (Sensation, Mysterland, Tomorrowland, & more), he has even branded a tour himself named IDentity Festival, his acquisition of Beatport.com makes him the unofficial monopoly of anything EDM. Although Beatport.com reported $2 million losses last year he is reportedly spending $50 million to purchase the number one EDM distributor in the world. Largest rumor that has yet to verified is the take over of the mega gigantic super massive EDM production company Insomniac, where Pasquale has said himself ”There is a price for everything,” especially since unconfirmed sources have stated that the deal could be any where from $60-$100 million. Sources are now claiming that Live Nation Entertainment may have actually acquired 51% ownership of Insomniac but there is nothing official yet either on that front.