Thursday, 21 March 2013

SFX snaps up ID&T and Tomorrowland

Robert Sillerman's rapidly expanding EDM business SFX has taken a 75% stake in European dance promoter ID&T, confirmed by the launch of a US edition of  ID&T'S massively successful Tomorrowland festival. The Belgium version of the  dance music festival is already sold out for 2013.  The US version will be called TomorrowWorld and will take place in Atlanta in September. According to the New York Times, the acquisition is worth $97.5 million. Tomorrowland won best major festival at the 2012 Festival Awards Europe.

And advertising and communications group WPP has taken an investment in SFX itself, saying it sees it as a valuable platform for the brands it represents with WPP saying the investment “underlines what we have believed from the start. There is a huge, global, fragmented audience of 16 to 34 year old dance music consumers that is very difficult to reach. In developing our global platform. We will be able to offer brands the opportunity to connect directly through events, festivals, online and mobile media”

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