SFX Entertainment, which began with the acquisition of Disco Donnie Productions back in June, 2012 along with the assertion that Disco Donnie was only the beginning, has stuck to its word in the meantime, snapping up well-known properties such as Beatport, ID&T (parent to the recently held TomorrowWorld), Made Events and most recently the web-based applications companies Tunezy, Fame House and Arc90. Today brings the announcement from SFX that it will be making a bigger push down under, acquiring the Totem OneLove Group, promoter and producer of the Australia’s most successful dance festival, Stereosonic, as well as the Creamfields Australia, Solar Music and Outrage festivals.
SFX Entertainment, EDM's Goliath
The move shows that in spite of its recent initial public offering and a subsequent drop in share prices, SFX has no intention of curtailing its strategy of rapid expansion across the globe. Robert Sillerman, the company founder, chair and CEO, said as much on the day of their IPO: “If you think your head spun before, you need to go to the gym. We have a lot more to do.” SFXE, the ticker SFX is known by on the NASDAQ, was trading at $9 a share at press time, down from its initial price of $13.
Totem OneLove was formed in 2007, when event planning and promotions company Totem Industries and Hardware Corp. -- which had been planning and promoting events for twenty years in Australia -- merged with the youth marketing, label, and events company OneLove Music Group. The result was a one-stop electronic music house, with “media, sponsorship,radio, record label (in partnership with Sony Australia), event production, finance & foreign exchange, touring & travel services, amongst a slew of more services,” as the company puts it. As well, the company boasts of a dedicated touring agency staff responsible for “internal touring, in-club events and third party events.”
"The acquisition of Totem OneLove Group is an important step as we expand into the huge Southeast Asia market," said Robert F.X. Sillerman, chairman and CEO of SFX, in a statement. "The world-class professionalism of Totem gives us the proximity, experience and platform to continue our growth strategy. Richie McNeill and Dror Erez are respected and admired by their industry peers, deservedly so, for what they have created and built."
The statement points out that the move will put SFX in control of 52 dance music festivals around the world.