SFX Entertainment still hasn’t taken off since its IPO flopped. The company’s stock is below $10, after launching at $13. This hasn’t kept SFX from buying up companies.
Today it was announced that SFX is acquiring Fame House, Arc90, and Tunezy.
Fame House is a digital marketing company whose clients include Ultra, Eminem, and Tiesto. Tunezy is a platform that allows artists to sell unique experiences, such as Skype sessions or backstage passes. Arc90 builds digital platforms, and SFX is a former client.
This shows SFX is interested in more than just owning the faces of EDM, such as the already acquired Beatport and Tomorrowland. SFX is attempting to become a strategic dance music powerhouse by also focusing on creators in the digital sphere. SFX’s CEO Robert F.X. Sillerman released a statement full of buzzwords:
“These deals are consistent with our commitment to bring EMC fans around the world more of what they love, 365-days-a-year, and to be world-class in all our areas of focus”
Now let’s see if SFX can make money…