Back in May, the dance world went into collective shock with the news that, following its parent company SFX Entertainment’s filing for bankruptcy , not only would Beatport be sold, but all of its divisions outside of its core digital retailing activities would be shut down , with its streaming, content, mobile app and events divisions all closing. However, this decision to streamline activities appears to have led to a drastic reversal of fortune.
“Our renewed focus on the Beatport Store, following our announcement of platform changes in May 2016, has been well received and successful,” SFX said in a statement yesterday, announcing it would “retain ownership” of Beatport, no longer offering it up for sale.
“The changes we implemented have laid a strong foundation for Beatport that have dramatically improved its profitability,” SFX confirmed.
“We look forward to emerging… in the next few months, as a strong and vibrant business, positioned to pursue both organic and strategic growth options. The dedicated Beatport management team is committed to continuing to serve our core DJ customer base and enhancing the quality of our customer experience.”
Those interested in finding out more can read “The Rise and Fall—and Resurrection?—of Beatport,” which has just been published over at Thump .
