News - 24/10/2013

SFX Entertainment continues acquisition spree with Tunezy, Arc90 and Fame House

SFX Entertainment continues acquisition spree with Tunezy, Arc90 and Fame House

Live music giant SFX Entertainment, a company that recently launched a public stock offering with an IPO that so far has not produced stellar results, announced three new acquisitions today following that of the OneLove Music Group last week.

These are all in the technology  and music sector and involve the startup Arc90 (creator of the Readability app), digital music platform Tunezy and marketing agency Fame House. The market hasn't so far reacted with enthusiasm to the announcement with the stock losing another 1.10% at the time of writing.

Arc90's founder Richard Ziade will enter SFX as Chief Product Officer. Arc90 is responsible for bringing a number of products to market and the team's expertise will prove invaluable to SFX as it seeks to establish itself as a music company that really "gets" technology.

Fame House is a solid agency with a history of working with major artists including Tiesto and DJ Shadow which undoubtedly will have given the company experience in the EDM space as well.

Finally the acquisition of Tunezy is interesting since the company placed its primary focus on enhancing the relationship between fans and artists and allowing the latter to monetize it. For more details on Tunezy check out Digital Music Trends' interview with the company's CEO below.


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