(The following article may be outdated. Please look up recent articles before commenting further. For an update, Beatport has further shut down various aspects of their brand).
We felt it be important that we communicate regarding the latest around Beatport.
There is a lot being reported on the status of Beatport and its parent company, SFX Entertainment.
As you may know SFX Entertainment, their parent company, is currently undergoing bankruptcy procedures. This process usually takes time and means that there hopefully will be a light at the end of the tunnel for many brands under SFX Entertainment.
In regards to payments for Q1’16 (January – March), we have received word from Beatport that these payments are to be paid in full as scheduled. Many folks have received a bankruptcy letter regarding SFX Entertainment and how to file a claim form to receive royalties. This letter is useful however, we’ve discussed with Beatport directly that they payments will be going forth despite this form being filled out.
As of March 1st, it was reported that Beatport will be sold at auction to the highest bidder. This means that for sure, SFX Entertainment will sell the Beatport brand to whomever can afford to do so. This means great things or it could mean not great things. Unfortunately, we don’t have specific news on this because it is beyond the control of us, the parent company of Beatport, etc… As soon as we receive word we will advise but for now, business as usual and no worries.
If any questions specific to you and your label, feel free to create a ticket via our Support Desk.
When Beatport was acquired three years ago, part of the vision was to create a broad digital platform for DJs to engage fans of electronic music wherever they may be. The original Beatport Store and the Beatport brand became the foundation for this vision, upon which we added a streaming music service, mobile app, a video livestreaming platform, and a relaunched news and media property.
We have learned through this process however, that in our effort to be so many different things, we lost focus on bringing the best possible service and capabilities to our most loyal customers: the DJ community. As such, we have determined to invest in what is most important to our business and our customers, rather than adding yet another choice to a sea of streaming services.
This means we will be shutting down the Streaming service and mobile app, Beatport News, the Video livestreaming platform, and the Events section effective May 13, 2016. Additionally, while we plan to continue considering offers for Beatport, the previously detailed auction process will be suspended for now.