The internet has been set ablaze with the news that SFX filed for Bankruptcy February 1st 2016. This news comes as no shock to those familiar with SFX shortcomings at last years Tomorrowland Festivities. SFX is the parent company of Tommorowland, Beatport, React Presents & more.
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| Tomorrowland flooding 2015 The internet lit up before party-goers could even reach home. SFX would be history after the major story hit the web. Rumours circulated only to be confirmed today February 1st that it became official. After several attempts to privatize the company. The shareholders will work towards that continued vision of privatizing the company as control changes hands. As for music makers freaking out in regard to their Beatport accounts Beatport released this statement... |
"For all of us here at Beatport, it’s just business as usual. That means entire Beatport platform is fully operational without restriction. The store remains open. The streaming service continues uninterrupted. New releases are being added every day. New videos are being scheduled and filmed. Payments to labels and suppliers are ongoing in their usual manner.
We look forward to SFX successfully navigating this reorganization, and in the meantime will continue focusing on building the best music experience for the fans, artists, and DJs that make up the electronic music community."
Many people online are voicing their opinions. Some calling SFX "foul" ... Time will tell where the festivities go from here. BellaBassFly will keep you updated on future developments.
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