Beatport quits music streaming as it suspends sale process

Beatport, owned by troubled SFX Entertainment, is quitting the streaming game – and says it’s in no rush to sell.

SFX acquired Beatport for $50m in 2013.

From there, in an attempt to increase revenues and progress its technology, Beatport built a streaming music service, a mobile app, a video livestreaming platform and a dance music news channel.

And today, just as anticipation was building for news of a sale, Beatport made a very different announcement.

“[In] our effort to be so many different things, we lost focus on bringing the best possible service and capabilities to our most loyal customers: the DJ community,” it said in a blog post.

“As such, we have determined to invest in what is most important to our business and our customers, rather than adding yet another choice to a sea of streaming services.

Source: www.musicbusinessworldwide.com

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