American events giant SFX Entertainment is back in the headlines this week with yet another EDM acquisition. In a month that has seen the company go public (with none other than Afrojack as the special guest at Wall Sreet) before adding three new purchases to its portfolio, its latest bold move is in the Southern Hemisphere. It’s been officially announced that SFX has acquired 100-percent of Totem OneLove, the promotion and production team behind Australia’s leading dance festival Stereosonic.
“The acquisition of Totem OneLove Group is an important step as we expand into the huge Southeast Asia market. The world-class professionalism of Totem gives us the proximity, experience and platform to continue our growth strategy,” SFX’s CEO Robert Sillerman said. The purchase of Totem OneLove by SFX brings the company’s total acquisitions to 52 festivals worldwide.
Richie McNeill, the Managing Director of Totem OneLove, added that, “Bob Sillerman and the SFX team have had a history of being innovative, breaking boundaries and never being afraid to push the envelope. Our vision is global and the SFX team will help us achieve that and we will work to help SFX’s other entities grow here in our territory, Australia and Asia.”
McNeill’s comments echo the words of ID&T founder Duncan Stutterheim, who announced the 100-percent sale of his company to SFX at this year’s Amsterdam Dance Event. “As we continued to work together [with SFX], at some point a list came up of the possibilities of what could be done if we sold the company. TomorrowWorld was an example of that; the festival cost 16 million dollars to put up. Those are amounts of money that we just don’t have. We are a big company, but we can’t invest that kind of money. So it was an opportunity for the company to grow.”
Touring the country at the start of each summer, this year Stereosonic has expanded to a two-day event in each city, and there’s a blockbuster line-up to match. In addition to headliners like Armin van Buuren, David Guetta, Calvin Harris, Axwell and Above & Beyond, the bill runs deep. Dog Blood, the rave-ready alliance between Skrillex and Boys Noize, will also be there, alongside Ferry Corsten, Zedd, Showtek, Tommy Trash, RL Grime and many more from across the dance spectrum.
Want to experience Stereosonic for yourself? Well, this could be your lucky year. You and a friend could win a trip to Australia in just over a month, spend a VIP weekend at Stereosonic and attend what might just be the ultimate house party, led by L.A. festival hero Destructo, Sir Bob Cornelius Rifo AKA The Bloody Beetroots and more friends. (And yes, this is real.)