Recently we expressed our concern over SFX Entertainment laying off an entire staff of engineers over at Beatport during the holiday season. Details on the exact number are a bit sketchy, but this might be one of the worst times of year to find out you’ve no longer got a job, especially in a field like EDM, where people are looking to pour more money into. Today, SFX President Tim Crowhurst spoke with Billboard about the layoffs, and have this to say: “The hard conclusion we had to make on Beatport is that we were spread a bit too thin. We had to make some hard choices, frankly, to restructure the team and get everyone focused on one vision.”
Apparently, the rumor was that SFX wanted to bring down costs to help pad their stock, but Crowhurst says that these cuts were due to the hires they’ve made in other areas, specifically adding on Arc90, Paylogic, Tunezy, and Fame House. Sounds like they added these companies on to help retool the hub that we feel they’re going to turn Beatport into, and with the acquiring of these companies, they have the numbers they need to further restructure Beatport. We’ll see where SFX’s headed in the near future, but for now, we have a lot of speculation regarding their moves.