As Investors Offer Millions, Can Electronic Dance Music Survive A Corporate Takeover?
Investors Robert Sillerman and Ron Burkle have are among those being being those mentioned as potential investors looking to buy into the burgeoning electronic dance music, or EDM business. EDM has become extremely popular in recent years, with huge festivals selling out in minutes and high profile artists like Tiesto and Deadmau5 commanding fees of more than $1 million.
Sillerman famously helped to transform the music industry in the late 1990s when his company SFX rolled up regional promoters across the U.S. to form the nucleus that would become Live Nation. Burkle, a billionaire supermarket mogul made an unsuccessful bid to buy Warner Music last year.
While Sillerman declined to comment, the New York Times reports that offers of as much as $60 million have been made to leading EDM promoters such as Insomniac, the company that produces the hugely successful Electric Daisy festivals.
Other potential investors mentioned included Live Nation and AEG Live. via CelebrityAccess
Um, Bruce… check your grammar, bro. “…Ron Burkle have are among those being being…”
Always an up and downside to being an EDM producer with people like Sillerman and Burkle trying to turn it into a mass money machine. Gonna ride this wave with my breath held.
It’s a good question. Corporations tend to dilute and nullify any art they get their hands on over time, so I doubt EDM would be any different. The high profits motive is detrimental to art(and anything for that matter), especially over time, as it leads to a lot of homogenization and blandness. http://www.nairbomanblog.blogpot.com
its http://www.nairbomanblog.blogspot.com Sorry.
There have always been some sects of Electronic and Dance Music (sorry still can’t stomach the new acronym) that have been more more high profile and profitable than others. For some time it was just major pop artists that were appropriating the style, sounds, and producers to bring it to the mainstream.
At this point the two worlds are starting to run neck and neck.
This is nothing new, disco came and worked it’s way into them mainstream, it made a lot of money for some artists, and then there was a backlash and other styles were born and trends changed.
WHile these investments might be profitable in some cases, they’re by no means long term winners, massive winners.
Sillerman? That’s funny. Very very funny.