EDM-focused promoter SFX Entertainment bought downloads store Beatport earlier this year for a reported $50m. Now SFX has filed for an IPO in the US, with the filing revealing more details on its digital business.
Stats: Beatport has more than 200k registered DJs and artists selling music, and attracted around 40m unique visitors in 2012.
Beatport generated revenues of $48.5m for 2012 as a whole, and posted a net loss of $1.5m – up from 2011’s revenues of $44.5m and net loss of $1.4m.
The site has a catalogue of more than 2.5m tracks, with its free music samples generating around 4m streams every day. The filing reveals that SFX agreed to pay $58.6m for Beatport in March: $33.6m in cash and $25m in stock valued at $5 per share.
There are also details on SFX’s plans for Beatport: “We are in the nascent stage of developing additional media content, such as news, lifestyle videos and blogs, which we believe will be attractive to members of the EMC community,” explains the filing. “We also intend to increase our consumers’ paid access to music, including through downloads.”