Electronic music conglomerate SFX Entertainment has announced a new shakeup at its executive level, hinting at a new direction for its music marketplace and editorial home, Beatport. Amid a larger overall organizational change that is underway, SFX has announced that former COO of Beatport, Greg Consiglio will take over as President and CEO of the company.
This comes as a structural change by the SFX to decentralize control away from the central operating entity towards its local, brand-level operations.
"The moves underway at SFX show a broader commitment to powerful business lines and emphasize the importance of brand operations," said Robert F.X. Sillerman, Chairman and CEO of SFX Entertainment, the parent company of Beatport in a press release.
In addition to making Consiglio CEO of Beatport, SFX has shuffled around some of its offices and executive personnel, naming Wouter Tavecchio CEO of SFX Europe and creating a steering committee comprised of top-level executives from the live, brand and financing sectors of SFX.
Brand dollars have been flooding into the electronic music space as big-name DJs score endorsement deals that can eclipse seven figures primarily from beverage companies. That money has also been spent lavishly on festivals where SFX dominates the mainstream market globally.
SFX has been putting a lot of emphasis on the expansion of Beatport as not just a marketplace for electronic music, but also a streaming service, editorial site for relevant news and more.
"This year marks the evolution of the Beatport brand beyond Beatport Pro, our music store, to a platform that includes music streaming, original video production, festival live streaming and editorial coverage of all that is happening in the exploding Electronic Music Culture scene worldwide," said Consiglio.
It has also become a home to livestream SFX festivals like Spring Awakening and Mysteryland and that will continue in the future according to Consiglio.
"Beatport is a critical component of the overall SFX Entertainment strategy and will become an integral part of our live event business and fan experience from event listings and music curation to activations at all SFX events worldwide," says Consiglio.
