A pair of electronic music headlines for you courtesy of Dancing Astronaut:
Martin Garrix Playing New York for New Year's Eve
We recently spoke with Rob Toma, director of talent procurement for Space Ibiza New York (see our full story on October 13) and he told us that running a nightclub in New York City is less about booking huge one-time events and more about keeping the active clubgoers engaged throughout the year.
Except maybe on New Year's Eve. Martin Garrix announced that he'll be in the Big Apple at a secret venue on New Year's eve, joining a litany of other huge names that will descend on the city that night. He hasn't said where, but tickets will go on sale October 14. Our hunch is a warehouse in Brooklyn but the possibilities are endless.
Disclosure has already confirmed they'll be playing Pier 94 on the Hudson that night while Skrillex and Diplo will bring their Jack U collaboration to Madison Square Garden. Stay tuned...Music Times will release a schedule of every big DJ's New Year's plans as they come in.
SFX Stock Scare
SFX Entertainment underwent some sabotage yesterday as investment site SeekingAlpha released an article detailing how the electronic music promotions company was misleading its investors and was bound to go bankrupt. The site referenced founder Robert Sillerman's failure to purchase shares himself, citing that as proof that the company is misrepresenting itself. The site also claimed beliefs that SFX had "an over-levered balance sheet and heavy cash burn."
The scare drove prices down to $3.52 a share but has since risen back to $4.41 following some opposing reports from other financial experts. SFX is certainly far from a safe bet at this point but it seems SeekingAlpha blew the risks way, way out of proportion.
