A New York Times report has been released stating that SFX Entertainment has purchased Beatport for 50 million. This is another expensive addition to CEO Robert Sillerman's EDM arsenal. After making investments into various Miami nightclubs as well as festival hosting companies, Sillerman is establishing himself as the corporate face of house music.
The only impact we as fans will feel is to our wallets. As in we will continue to cough up even more money to attend these events with no end in sight. I knew this would happen and now house will be turned it something for the rich to do, like so many other things. But you will never be able to sustain it because it wasn't built by the wealthy. It was built by passionate music lovers who wanted to listen to something more than all those people talking about Bentley's and gold in their mouth.
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