Beatport Sold To SFX Entertainment For $50 Million
Is every small company destined to sell out once they become big? A lot of the small-time shops that promise to remain underground and never let their head become large, have to deal with the challenge of growing their business and keeping their fan base theirs. In the most genuine of cases, a company will start out as a non-profit resource, like an information booth or a community hub – but even those are not immune to the infection that the thought of profit brings. These same guys will later sell out and make millions from their creation, without a single thought as to what will become of it, once out of their hands.
Only a few years ago, the major radio stations became incorporated with one of the largest broadcast groups, ClearChannel, and the result was that traditional radio and the ability to play “whatever you want” was lost to aggressive marketing and campaigns. This is why hip-hop stations rarely play actual hip hop music. Beatport was noted for recently being sold for a cool $50 million dollars. Since beatport was known for spotting trends in new EDM music, its perceived value is much more than the amount of songs it boasted for download.