SFX Buys Out React Presents
Yesterday, SFX Entertainment Inc. announced that they had acquired the Midwest event production and promotion company React Presents. React Presents is host to hundreds of club shows in Illinois, Michigan, and Wisconsin. The company also produces some of the premier music festivals in the Midwest, including Spring Awakening Music Festival and Summer Set Music Festival. React Presents was founded by Jeff Callahan and Lucas King in 2008, and has been very successful, bringing in over 100,000 attendees their festival events last year. Prior to this purchase, EDM fans would have mostly likely heard of SFX in recent news for their attempt to purchase the land where Electric Forest Festival is held. However, there was no agreement met keeping the festival’s contract intact with Insomniac and Madison House Productions.
In the 1990’s Robert M. Sillerman began building the now very successful company SFX. The company was born to link regional promoters with each other in the live entertainment business. In 2012, Sillerman, the CEO and chairman of SFX, announced that his newest conquest would be to hone in on EDM. To put this plan in motion, Sillerman began purchasing companies throughout the world. In 2014, just two years later, SFX is the world’s leading producer in live music and entertainment. In the past two years SFX has acquired ID&T (TomorrowLand, TomorrowWorld, MysteryLand, Sensation), Life in Color, Made Events (Electric Zoo), Donnie Disco Presents, Beatport, and many other companies worldwide.
In a press release Sillerman said,
“React Presents is a dominant player in the Midwest, so it was strategically important for us to join forces. React’s ability to put together and promote so many quality productions that excite so many fans will greatly add to our success and growth.”
We are very interested to see which company SFX will attempt to take ahold of next, and what will be in store for React Presents this next year.
Written By: Allie Regan