Robert Sillerman’s SFX Entertainment acquires majority stake in Dutch events company ID&T Entertainment.
Robert F X Sillerman, a while ago
Having acquired Beatport last month, the American media conglomerate SFX Entertainment continues its move into dance music by acquiring Dutch entertainment company ID&T, organisers of European events including the TomorrowLand festival, held annually in Belgium since 2005.
It was widely reported as far back as January that SFX would form a joint venture with ID&T to run events in North America. It was believed at the time that the deal would involve partnering ID&T to bring events including TomorrowLand (which will be branded as TomorrowWorld) and Sensation to North America.
However, the news has emerged that the deal goes much further than was previously understood: in a deal reported to be worth $97.5m, SFX has in fact purchased a 75% stake in ID&T’s entire global business, valuing ID&T at $130m.
The purchase of the majority share makes it clear that the company plans to expand globally, taking an interest in dance music outside North America.
Of course, nobody should really be surprised by SFX’s latest acquisition. Sillerman has explicitly stated his intention to acquire a portfolio of dance music-related businesses with a value up to $1bn. However, the expansion outside the US makes it patently obvious that SFX’s impact will go beyond the American EDM boom and could have an on impact dance music around the world.
Should we be worried? Will SFX’s plan have an impact on your experience of dance music, or is it just a flash in the pan based on the current North American craze for corporate-backed EDM events? Let us know your thoughts below…