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.
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