We used to refer to SFX Entertainment as an EDM giant, but if truth be told, it’s travelling rapidly towards EDM minnow status. The company’s share price has tumbled to $0.46 per share in the wake of a failed buyout from its boss Robert Sillerman, notes Music Business Worldwide.
That leaves SFX with a market cap of just $44.9m – down from $927m in December 2013, and as the piece points out, having gone from a quarter of rival Live Nation’s in December 2013 to a hundredth now. The big question now, though, is what happens next. SFX has said it is exploring the idea of selling off parts of its business, which could include dance downloads store (and now streaming service) Beatport. But the tumbling share price may lead potential buyers to wait it out, in the hopes of picking up bargains in a fire sale.
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