Continuing its EDM brand shopping spree, US-based SFX Entertainment today announced the formal acquisition of Made Event, the company behind New York’s Electric Zoo festival.
With today’s news, SFX now has its hand in over 52 dance music festivals around the world.
“The acquisition of Made is strategically important for SFX, as it establishes a strong foothold for us in the New York City region,” said SFX Chairman and CEO Robert F.X. Sillerman in a press release.
“We plan to develop the Electric Zoo brand internationally and have the opportunity to build other SFX brands in the U.S. with the support of Mike, Laura and the team at Made.”
Today’s news comes less than a week after SFX’s purchase of Totem OneLove, the team behind Australia’s popular Stereosonic touring festival.
In mid-October, ID&T — the Dutch company behind the production of TomorrowWorld — announced it had been fully acquired by SFX.
Sillerman already holds the keys to Disco Donnie Presents, Life in Color (formerly Dayglow), the VooDoo Experience, and several other local and regional promoters around the U.S.
But it’s not just festivals SFX is after.
Building on the acquisition of Beatport earlier this year, the company last week added technology platforms Arc90, Fame House, and Tunezy to its family of brands.
SFX’s stock began trading publicly on Wall Street on Oct. 9 and closed at $9.24 today, down from its initial offering price of $13.
A Forbes report released today predicted positive growth for the stock over the next 12 months, targeting the stock in the $14 to $16 range.
Sillerman’s primary competition is Live Nation, a company he himself helped build in the 1990s. In June, Live Nation announced a partnership with Insomniac Events, producer of the Electric Daisy Carnival series.