When SFX Entertainment first declared bankruptcy in 2016, people were unprepared for the upset that it would cause in the entertainment industry. SFX, being one of the largest corporate conglomerates in dance music, has been behind some of the most popular brands and largest festivals dance music, and it truly shocked fans when they declared bankruptcy.
As an attempt at financial recovery, SFX, after the announcement, quickly began to auction off its many assets including the electronic music marketplace Beatport, ticketing company Flavorus, marketing agency Fame House, and ID&T, the organizers of TommorowWorld.
As a further step to recover lost assets, SFX recently announced that they would be severing ties and auctioning off Q-Dance, a rapidly growing record label and event production company based around the growing hard dance craze. This news has sparked much debate and question within the music community about how the restructuring of all these organizations will affect the industry. Despite the uncertainty that this has caused, hopes are high that amidst the turmoil a new power player will arise to help bring this young industry into the spotlight.