SFX Entertainment reported revenue of $121.1 million in the second quarter, up 48.3% from the year-ago period. However, the parent company for online EDM specialty platform Beatport also posted an increase in net losses, up 36.2% to $48 million for the quarter. Continue Reading
Beatport recently updated its terms to allow anyone to create an account and upload original tracks. These songs can be monetized on Beatport’s platform, and the owner will receive between 5% and 10% of the total amount generated by a track. The details of the per-stream royalty calculations are laid out for all to see in the terms of service. Continue Reading
SFX Entertainment has entered into a partnership with Spotify. This new arrangement will bring music and video content from Beatport to Spotify’s streaming service. Brand new Beatport CEO Greg Consiglio said that the company is in the midst of building out new content partnerships with other distribution channels, but Spotify is the only one that will get access to Beatport’s new music exclusives. Continue Reading
SFX Entertainment is reorganizing its leadership, a move that will see a new CEO overseeing EDM project Beatport. Greg Consiglio will serve as president and CEO for the online store and streaming service. According to the press release, the structural changes were made so SFX can focus on brand-level operations. Continue Reading
Beatport has introduced an embeddable music player that can can be added to websites and social channels. The company also recognized the recent debates about artist payments by putting its policy front and center. That means every stream of a song, no matter where it happens, will yield some payment to rights holders. Continue Reading
The general trend in the music industry has been a steady decline in sales of downloads, and that appears to be impacting even niche stores. EDM and DJ specialty platform Beatport’s financial information was released in the quarterly filings for parent company SFX Entertainment. In the first quarter this year, the company’s revenue from digital downloads totaled $8.9 million, compared with $11.6 million for the same metric in the year-ago period. Continue Reading
Brief news items and worthy reads from around the web: 26 podcasts you should be listening to; NPR’s podcast strategy; BMG partners with Alibaba; Beatport launches an app; Tinder for music. Continue Reading
EDM specialist Beatport has started the beta of its free streaming music platform. The player is embedded on the website, and you can continue to listen as you navigate around the site. TechCrunch’s review of the beta was uniformly positive, with just a one critical note about the ability to browse. Continue Reading
Is streaming a winner-take-all market? Bob Lefsetz recently implied that, and guest columnist Mike Spinelli offers strategic thoughts targeted to specialized streaming services. Rather than attract every listener in the world, optimize the service around core specialty audiences. Continue Reading
Beatport has built itself as a digital store for creators and fans of electronic music, but now parent company SFX Entertainment seems poised to add a streaming component. The Beatport website will reportedly have free, ad-supported, on-demand streaming starting early next year, sources told The Wall Street Journal. Continue Reading
Beatport purchased a social listening app called Listn for an undisclosed price, then promptly decided to shut down the service. The app allowed its members to explore their friends’ music libraries, with connections to several popular streaming services: YouTube, Spotify, Rdio, and SoundCloud. Listn will no longer be available starting Oct. 30, but the app’s employees will be joining Beatport. Continue Reading