ID&T, the company that has ran the TomorrowLand parties in Belgium (you know, the one we told you is putting on a TomorrowWorld festival in Georgia this September), has been bought out by Robert Sillerman's SFX Entertainment to the tune of $102 million in cash and stock. This is on the heels of SFX's $50 million acquisition of Beatport just last month.
The corporate buyout of EDM is underway. Sillerman had the following to say about his most recent purchase: "We are aligned with a festival operator who has been doing this for 20 years and has helped define quality and a great experience for fans. It also gives us the global footprint to begin creating the worldwide community of dance fans."
So let's get this straight: SFX Entertainment not only owns Beatport, the biggest distributor of EDM tracks online, one that he hopes to turn into a hub for tunes, news, and more, and just bought one of the most well-known EDM festival throwers (they also throw the Sensation events), not to mention the investment that advertising giant WPP made into SFX Entertainment?
It's going to be a LONG summer.
