Electronic dance music is big business today, and SFX Entertainment, a producer of live events and other electronic dance music content, is making a big consolidation move to cement its position within it. It is buying three startups — Arc90 (maker of the Readability app), marketing agency Fame House and music commerce platform Tunezy — to beef up its offerings online.
And this comes after recently announcing the complete acquisition at ID&T at this year’s Amsterdam Dance Event, as well as making history as the first dance music entity to go public on the NASDAQ.
Arc90 is one of the premiere mobile and web app developers in the market while Fame House represents SFX’s move to become a fully comprehensive digital marketing machine. The third acquisition of Tunezy, however is fairly curious, as the company has only just recently raised a round of funding and although it boasts 10 million users on its streaming service dedicated to independent musicians, but it does serve a purpose critical to SFX’s core strategy – strengthening the bonds between fans and artists in a way that can be monetized.