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The fall of EDM is coming... (pg. 2)
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| 72hrpartyanimal |
| quote: | Originally posted by MR STROKE
LOL
of course it will, I did't say never, just not right now. EDM is still massive right now, but it will eventually run its course.The kids that only go for the molly will burn out and the scene will contract again just like the early 2000's.... |
that's when the 72HrPartyAnimal makes his return!!! |
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| 72hrpartyanimal |
Might as well have fun in this thread.
Nerologic is a
:) |
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| Nerologic |
| quote: | Originally posted by 72hrpartyanimal
Might as well have fun in this thread.
Nerologic is a
:) |
This coming from the Raiders fan!!
:stongue: :stongue::stongue: |
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| DJ RANN |
| quote: | Originally posted by jdub889
not sure that SFX's financial troubles necessarily herald the fall of EDM (although i know you said that with tongue in cheek). don't forget that SFX invested in a bunch of different stuff (festivals, nightclubs, digital and social media firms, ticketing companies, record labels, even beatport itself). it was sillerman's attempt to wrap as much of the scene up as he could into one conglomerate... i assume in hopes of creating synergies that would make each piece more profitable. but he paid a premium for all the companies he bought, meaning that he was betting that his plan would allow him to cut costs and boost profits. that he was wrong may just mean that he bit off way more than he could chew and the people he was betting on for an exit plan didn't take the bait. |
But I think it is a signal of the bubble imploding; sillerman was able to do it with hiphop radio in the 90's and this by his, or anyone else's standards is a cataclysmic failure, and it should have been easier but in this case, there were no monopoly rules standing in his way.
IMO, he's failed because he got in too late. Had he started in 2006/7 he would have made hundreds of millions off it and probably controlled the market, but instead he entered the market at the peak, and overpaid for all the assets. $50m for beatport? When their revenues was one tenth of that and they'd never (still haven't) made a profit. By his own admission he didn't have a clue about the scene and he's damn right.
| quote: | Originally posted by galactic2154
He's trying to take the company private. All these people dumped money into it and he used that to buy all these companies. Eventually price just kept bein driven down due to financials and Sillerman antics (flipping middle finger and cursing on call). He then said he will pay $5.25 or $4.75 per share for the remaining shares to take the company private. He knows what he's doing and recently he took his $5.25 bid away and may put in a lower bid. During his first bids and even now is when all these firms are investigating his wrongdoings. |
He's ed. Sure he might be trying to get a bargain on the price now, but you're forgetting the $200m+ that he sank in to it which is now in the toilet. His stock was worth 100 times more a couple of months ago. You don't nose dive you stock to that level to buy back a company - sure you own it but it's worthless.
So now, his only hope is to buy the junk stock and somehow turn it around. He may well find a way to do it (like leveraging the assets and selling it to Apple and insomniacs etc), but who is going to play or pay with him now in the scene? People know he doesn't have a clue, and then there's a ton of people who lost serious money on this so hes got a lot of problems right now.
He was instrumental in exacerbating the $500,000 a gig, fist pump megarave problem and now with ID&T on the ropes the money, the agents, the managers, the bookers won't have the cash cow.
It comes at a time when so many people are finally getting sick of the joke that is EDM.
EDM is dead, long live dance music! ;) |
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| junkproject |
| Good, main stage\stream EDM sounds like happy hardcore from the late nineties... |
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| Nerologic |
Anyone else noticing that the events aren't selling out anymore?
Both insomniac and SFX events aren't selling out completely. Nocturnal and EZoo still have tickets available and the event is going on right now.
Where as in the past, scalpers were making money hand over fist because they would usually sell out. |
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| david.sound |
| Yeah I also noticed that Sunday isn't sold out yet for Nocturnal. That's like the best day too! Sasha, Booka Shade and Jody Wisternoff! :eyespop: |
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| Nerologic |
Most of the big "EDM" Vegas parties didn't sell out either this weekend, if any?
And if you have ever been to Vegas LDW, almost all the parties sell out. |
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| DjWoody |
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| MR STROKE |
I do think we are the verge of a contraction
Festivals aren't going away but I am going to guess only the big ones(Coachella, EDC Vegas, Lalapoloza, Ultra Miami, etc..) will survive over the next 5-10 years |
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| jonmitz |
| Coachella isn't an EDM festival, they just have an EDM stage (yes, just one, neither the Do Lab or Yuma are mainstream EDM). Lollapalooza is also not an EDM festival |
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