When SFX-owned Beatport launched its free streaming service earlier this year, many saw the move as shots fired in the highly competitive world of on-demand music. Spotify and SoundCloud were frequently name-checked as rivals. Now, fresh off announcing an executive-level shakeup and reorganization into a “more distributed” structure, SFX Entertainment has announced a partnership with Spotify that will allow content sharing between the two would-be competitors.
In a press release, the dance conglomerate and streaming giant together promised “highly curated” playlists and exclusive EDM-related content that will complement Spotify’s recently-announced focus on video:
SFX Entertainment, Inc. (NASDAQ: SFXE) and leading music streaming service Spotify today announced a content distribution deal involving music and video content from SFX’s Beatport, including exclusive music releases previously available only on Beatport and programming from SFX festivals and events. The collaboration will bring Beatport’s brand and editorial voice to a unique program on Spotify, and marks the first partnership of its kind between Spotify and another music streaming service.
From the latest tracks by rising stars in electronic music to video coverage of live events to highly curated playlists from Beatport’s team of experts, Beatport on Spotify will host a variety of premium and exclusive content from the epicenter of electronic music culture.
In an interview today, SFX’s spanking new CEO Greg Consiglio told Billboard that Beatport’s intimate relationship with electronic music is a game-changer for Spotify:
“We have a unique perspective on what’s trending, which new artists are breaking. We’re taking that expertise to Spotify — we’ll be curating unique weekly playlists that really only Beatport can do. It’s a really interesting opportunity for us to be looked at by Spotify, where they have a lot of electronic music, but they don’t have the same expertise that we do.”
At closing, SFX stock was up 8% on the news.