SFX Entertainment Co announced earlier yesterday that it has acquired Made Event, the company behind one of the world’s largest electronic music festivals, NYC’s Electric Zoo. Following SFX’s February purchase of Beatport and March’s stake in ID&T (the producers of Tomorrowland), this move all but cements them as one of electronic music’s driving bodies, and puts them one step closer to the household familiarity of companies such as Insomniac and HARD.
“But who’s SFX?” you ask, “and what makes them think they’ll be any good at this?” Well, founder Robert F.X Sillerman is the man who created the company we all now know as Livenation. Unlike the board of Livenation however, Sillerman is betting big on EDM and making what industry-leaders would call the right moves.
Speaking on the acquisition, Sillerman had this to say: “The acquisition of Made is strategically important for SFX, as it establishes a strong foothold for us in the New York City region… Co-founders Mike Bindra and Laura De Palma are the ultimate industry professionals, and our management team will benefit greatly from their years of experience. 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.”
Source: Made Event