SFX ENTERTAINMENT PURCHASES MADE EVENT, CREATORS OF ELECTRIC ZOO FESTIVAL | #EDM
NEW YORK – SFX Entertainment, Inc. is the largest producer of live events and entertainment content focused primarily on electronic music culture (EMC) in the world. They have made another acquisitions in an attempt to solidy their place amongst New York City’s Electonic Dance Music scene, in February, SFX bought Beatport for a little over $50 million. SFX Entertainment just announced today that it has acquired Made Event, the creators of the Electric Zoo Festival and the premiere electronic music production company.
“The acquisition of Made Event establishes a strong foothold for us in the New York City region,” said SFX Chairman and CEO Robert F.X. Sillerman. Sillerman offered high-praise to Made Event co-founders Mike Bindra and Laura De Palma as “the ultimate industry professionals” and agrees that, the SFX “management team will benefit greatly from their years of experience.”
The plan has been laid out to develop the Electric Zoo brand internationally and have the opportunity to build other SFX brands in the United State. SFX has acquired the entirety of Made Event in the transaction, after SFX Entertainment had previously agreed to acquire 70% of the company.
The Electric Zoo Festival is New York City’s largest dance music festival, with more than 100,000 attendees. Established in 2009, it takes place over Labor Day weekend on Randall’s Island and features the top names in electronic music, bringing a wide variety of acts from around the world and across the spectrum of electronic music’s various sub-genres. No details have been revealed about future plans for the show after a highy-publicized cancelleation of the Festival’s closing day earlier this year.
Made also presents the Governor’s Beach Club concert series in New York, Armin van Buuren’s ASOT 600 at Madison Square Garden, and recent sold-out shows by Hardwell and Benny Benassi. It is also a regular contributor to New York-based art and culture charities.
De Palma added, “The SFX team of industry leaders will provide a network of opportunities, allowing us to expand our vision of presenting the highest caliber, fan-focused electronic music events in exciting and innovative environments around the globe.”
SFX’s stock began trading on The NASDAQ Global Select Market on October 9, and the company will file its third quarter 10-Q report onNovember 22.