The present popularity of dance music has not escaped the notice of Wall Street. One representative of the corporate world has shown a particular interest in the genre, namely Robert F. X. Sillerman who has ventured into the EDM world with his own company. In the 90s, Sillerman started the company that would become Live Nation by joining a bunch of regional promoters into one large national concert powerhouse.
He is attempting to do the same by making electronic dance music concerts more corporate. He stated in an interview with the NY Times on Monday of this week that his company (SFX Entertainment) had already purchased Disco Promotions, a Louisiana company that puts on electronic dance music events and raves across the US. Sillerman says that he is presently negotiating with 50 other companies and may spend as much as a billion to acquire many of them. Is this the beginning of the end of the current popularity of electronic dance music in America?
One event that is not likely to escape Mr. Sillerman’s notice is the Electronic Daisy Carnival, which kicked off in Las Vegas this weekend. The 15th annual Electric Daisy Carnival is put on by Insomniac Entertainment and started out with Fedde Le Grand and Afrojack on Friday June, 8 and will continue with Steve Aoki (sharing the stage with the Blue Man Group) on Saturday. Sillerman would not be alone in his interest as Goldenvoice (promoters of the insanely popular Coachella Music Festival) are also interested in purchasing EDC. Other DJs expected to take this stage at this year’s EDC include Tiesto, Bassnectar and Armin Van Buuren.