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SFX took Beatport off the market because it’s so bloody successful

By Andy Malt | Published on Friday 22 July 2016

Beatport is not for sale, people. And not because SFX couldn’t find a buyer. No, because it’s become so bloody successful of late.

As previously reported, a month after Beatport parent company SFX declared bankruptcy in February, it announced that the dance music-focussed digital music service would be one of the assets offloaded to keep the company afloat. Attempts to find a buyer stalled though, and the Beatport operation was cut back to just its original download store. Then a court filing earlier this month showed that it was no longer up for sale.

But the tone of that last paragraph demonstrates just the sort of negative spin the bloody media puts on everything. It’s all fine. SFX doesn’t want to sell Beatport anymore. Beatport is great. Beatport is keeping everything ticking along.

“Our renewed focus on the Beatport Store, following our announcement of platform changes in May 2016, has been well-received and successful”, says a statement from SFX. “The changes we implemented have laid a strong foundation for Beatport that have dramatically improved its profitability”.

It continued: “As a result of these improving trends, SFX has determined that retaining ownership of Beatport is in the best interest of the company and has withdrawn its motion to sell Beatport through the Chapter 11 [bankruptcy] process. We look forward to emerging from Chapter 11 in the next few months a strong and vibrant business, positioned to pursue both organic and strategic growth options”.

So, get ready for SFX to bounce back everybody. It’s already doubled its share price from a recent all time low of one cent. Good times.