SFX Entertainment has secured an investment from WPP in an association that marries EDM’s wired and engaged audience with the world’s leading communications services group.
In moves reminiscent of his aggressive ‘90s rollup of concert promoters and real estate, SFX chairman/CEO Robert Sillerman has aggressively built a global platform for dance music through acquisition and partnership with existing festivals, events, clubs and online brands. The firm now says it has a collective audience of “over 100 million connected, highly mobile” music fans through its various properties which include: Beatport, ID&T North America (Sensation and Mysteryland), Life In Color, Disco Donnie Presents and Miami Marketing Group, home of LIV, Story and Arkadia.
“Investment from WPP is an exciting step for us, as it underlines what we have believed from the start,” says Sillerman in a statement. “There is a huge, global, fragmented audience of 16 to 34-year-old dance music consumers that is very difficult to reach. In developing our global platform, we will be able to offer brands the opportunity to connect directly through events, festivals, online and mobile media.”
Adds WPP Chief Executive Martin Sorrell, “We recognize the value in what SFX is creating and believe we can help bring this valuable audience to our agencies’ global clients. The challenge of navigating through digital and social media is daunting for clients and we believe this partnership can further develop WPP’s content capabilities, particularly in new media in the youth consumer segment."
WPP is the world’s largest communications services group, with billings of $70.5 billion and revenues of $16.5 billion. Through its operating companies, WPP provides a comprehensive range of advertising and marketing services, including advertising/media investment management; consumer insight; public relations and public affairs; branding and identity; healthcare communications; direct, digital, promotion and relationship marketing; and specialist communications.