SFX Entertainment reports fourth quarter loss of $131 million
SFX Entertainment, the live event company behind TomorrowWorld, Electric Zoo, Stereosonic, the Voodoo Experience, and Beatport, has announced its fourth quarter earnings. The company reported a weak fourth quarter and a total loss of $131 million, with shares dropping 8% to $4.30.
Despite the performance, SFX Entertainment looks towards a positive future. “You see that we’re anticipating a very sizable increase in attendance at the best goals we already have inside in the many slow-down festivals for the Summer Set and therefore we are quite comfortable with the number that we’ve given. Similarly, on the marketing partnership the thing that is really most gratifying to me is that our partners are expanding their spend with us and their reach,” said CEO Robert F. Sillerman.