(CelebrityAccess)–Beatport is not for sale, people. And not because SFX couldn’t find a buyer. No, because it’s become extremley successful lately.
“Our renewed focus on the Beatport Store, following our announcement of platform changes in May 2016, has been well-received and successful”, says a statement from SFX. “The changes we implemented have laid a strong foundation for Beatport that have dramatically improved its profitability”.
It continued: “As a result of these improving trends, SFX has determined that retaining ownership of Beatport is in the best interest of the company and has withdrawn its motion to sell Beatport through the Chapter 11 [bankruptcy] process. We look forward to emerging from Chapter 11 in the next few months a strong and vibrant business, positioned to pursue both organic and strategic growth options”.
Get ready for SFX to bounce back. It’s already doubled its share price from a recent all time low of one cent. -Staff Writers