NEW YORK (Hypebot) – SFX Entertainment [SFXE] announced today that they have acquired or are acquiring digital marketing agency Fame House, ecommerce and experience platform Tunezy and digital designer Arc90. Though their stock is still seeking bottom, SFX has the funds to continue their creation of a major music company. While the acquisition of Beatport signalled digital growth possibilities in serving both artists and fans, these new acquisitions suggest that artist services may become an important aspect of SFX beyond simply promoting events.
SFX Entertainment is primarily known in the M&A space for acquisitions of companies producing EDM-related festival and events. For example, they had already acquired a major share of ID&T but recently went on to acquire 100%.
Public companies have to grow and, honestly, EDM live events' room for growth is finite given its ties to a specific genre. But, before they deal with the genre issue, they seem to also be gathering together the basis for artist services which will not only expand what they're doing in EDM but open up other possibilities as well.
Today's news regards the following acquisitions in progress:
"In separate moves, SFX signed an agreement to purchase Arc90, a product design and development agency; acquired Fame House, a leading digital marketing agency specializing in the music and entertainment industry; and signed an agreement to purchase Tunezy, a commerce platform for entertainment that connects content creators to their fans."
The Fame House acquisition is complete with the acquisition of Arc90 and Tunezy expected to be completed next month.
Both Fame House and Tunezy will continue to service current clients.