SFX draws new sponsors for dance music festivals in wake of fourth-quarter loss
Even though SFX Entertainment reported a net loss of $119 million, or $1.73 a share for the year, it continues to rack up an array of sponsorship deals including Anheuser-Busch and Clear Channel Communication. With a portfolio containing Tomorrowland, Electric Zoo, Rock in Rio and Sensation, the dance music entertainment giant highlights the critical nature of media and sponsorship deals, stating that two big deals will be announced next month. CEO Robert Sillerman hinted one of the deals would be with “a very well-known global financial services partner” which will bring in $75 million over five years. SFX also reported that it sold six million tickets to its events around the world in 2013.
Read more via The New York Times