Beatport Sale Called Off, Shuts Down Streaming, News, Video, Events

In a dramatic twist to the Beatport auction process, the sale has been temporarily called off and the company is shutting down almost every project they run that isn’t the music store. Keep reading for details:

Beatport Sale Suspended

The popular online music retailer may have been listening to readers in our article about DJs buying back the company and – with a post on the official Beatport blog detailed how they want to serve the community and get back to basics:

“[…] 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. 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.”

The post goes on to announce that the company will be shutting down “the Streaming service and mobile app, Beatport News, the Video livestreaming platform, and the Events section effective May 13, 2016” as well as halting the auction process for the sale.

In terms of the sale itself, there’s only a brief mention of how things will go moving forward – “while we plan to continue considering offers for Beatport, the previously detailed auction process will be suspended for now.”

Billboard reported from once source that “as many as 49 Beatport employees have been laid off as part of today’s announcement” – with additional changes also happening in the internal management structure.

SFX, Beatport’s corporate parent recently filed for bankruptcy, and as part of that process the lenders who now own the company have the opportunity to sell or streamline any of the assets – including Beatport.  As bidding seems to be taking a long time, they probably wanted to cut costs and minimize losses by eliminating non-essential services.

A New Coupon Code

Since the beginning of the sale process there have been very few coupon codes for discounts on the Beatport store. Just yesterday prior to this shakeup being announced, a new 20% off code was issued – MOVEMEVIP – which also enters you into a contest for tickets to the Movement festival in Detroit later this month. Let’s hope that this is part of the back-to-basics way of doing things and a focus on the DJ’s who have supported dance music sales for years.

bankruptcybeatportbeatport storecalled offsalesfx
Comments (7)
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  • Chris Wunder

    Does anyone else imagine a coked out psycho behind the wheel of Beatport like in Vinyl lol

  • Noah Halbfoster

    labels are terrified all dance music sales are taking a major hit …. Ive had tracks wating to be released since before christmas. SFX has royally screwed dance music for decades with this crap

    • Aken

      Yeah good thing if the whole dance music market is finally collapsing. We need some fresh air for a more healthy music industry.

  • John Viera

    Please hire me to design the iPad GUI. Please

  • Mike Kowalczyk

    Good. Just go back to the classic layout.. They managed to fuck something up that was far from broken.

  • TomSchmitz

    Sounds like they did not get the bids they hoped for, they are bleeding cash and they need to reduce cost to improve their financial statements. Ignoring the crafted PR statement, these actions look more like emergency amputations.

  • Eloy Zoet

    Sounds like they’re finally getting it…