A little more than a year after SFX stepped into the EDM ring with it’s extensive acquisition of Dance music related entities like Beatport and ID&T, the ship that it’s now former leader Robert Sillerman led is in rather critical condition. In a final letter to his employees, he had this to say:
As most of you are aware Thursday, March 31, will be my last day as CEO of SFX. I will remain as Chairman of the Board. The disappointment I know we all feel should not be the lasting impression that remains. We had a bold vision, a revolutionary one. That we stumbled along the way can never detract from the energy and hope that brought us all together. As we enter this next phase, despite the place we find ourselves, there is much to be proud of. It remains incumbent on all of us to refocus our energies and find the path to success that is out there. I am confident that with renewed discipline combined with passion and creativity that our original goals can and will be met.
As Chairman I remain available to help in any way that I can. I maintain both an emotional and financial interest in our company’s success and intend to participate as and when called upon. As such this is anything but a goodbye; rather a reset of roles with a renewed emphasis on collaborative success. While we aren’t where we wanted to be, and will be, it has been an honor and a pleasure.
Considering the slightly brash public comments and systems he’s made in the past, this letter sees Sillerman open himself up in an honest fashion about the mistakes made by the company and give hope for a better future. We’re interested to see what is to come from SFX as well as the companies forced to separate from it.