"On October 14, SFX faces a self-imposed deadline for considering offers to buy all or part of the EDM-focused conglomerate. SFX's D-Day arrives after multiple postponements, and after its colorful chief executive, the veteran radio and live music impresario Robert F.X. Sillerman, scrapped an offer to buy the roughly 60% of the business he didn't already own. The backdrop is a precipitous fall in SFX's market value, from more than $1 billion when it went public in October 2013 to around $70 million as of October 5."
Choice quote from Philip Sherburne:
"Just sonically, Avicii or mainstream EDM sounds to me like Van Halen's 'Jump,'. It's the same synthesizers; it's the same pleasure centers. You could say that Alesso is Bon Jovi. Bon Jovi took metal or hard rock and aimed it squarely at a very mainstream, middle-American public. That's exactly the same thing: These artists have taken what was once a subculture and redesigned it along a pop format. I don't know the economics of hair metal, but it seems to me pretty clear that [with EDM] we're in the era of the Wingers and the Whitesnakes."
If only EDM was as good as "Jump"...