Dance-focused site Beatport has a new boss, Greg Consiglio, who has moved across from a role as president and COO of its parent company SFX Entertainment. “The moves underway at SFX show a broader commitment to powerful business lines and emphasise the importance of brand operations,” said SFX boss Robert Sillerman in a statement.
There were also some stats: Beatport has paid more than $181m out to rightsholders since 2004, and is currently adding 25k new tracks a week in the wake of the launch of its streaming service. However, SFX’s plans to take the overall company private are being questioned by some analysts, after the company’s share price fell to $3.83 – 27% below the $4.75 that Sillerman is offering public investors in the company. “It seems the company is in a little bit of disarray,” analyst Rich Tullo told Billboard, while hedge fund Maglan Capital tweeted that it is “tough to expect a deal to happen now”, adding that it suspects Beatport may be sold off. Who would buy? Let speculation commence.
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