SFX Entertainment Forms Strategic Alliance with PRISA Radio, Largest Spanish-Language Radio Group
SFX Entertainment, Inc. (NASDAQ:SFXE) , the world’s largest producer of live events and entertainment content focused exclusively on electronic music culture (EMC) and other world-class festivals, today announced the creation of a strategic alliance with PRISA Radio, the world’s largest Spanish-language radio group. The partnership will co-promote SFX event brands throughout PRISA Radio’s network of 1,250 broadcast stations, digital properties spanning 12 countries and reaching more than 28 million listeners and online users, and a sales force of more than one thousand people.
Together, PRISA Radio and SFX will develop unique media programs and sponsorship opportunities in Spain, Portugal and Ibero-American countries, including Mexico, Chile, Colombia and Argentina. SFX event brands to be supported through the initial program include Mysteryland, Life In Color, Sensation, Awakenings and Electric Zoo. While current plans are still being formulated, the alliance contemplates presenting a minimum of 20 events over the next few years.
“Joining forces with PRISA Radio creates a powerful multifaceted alliance,” said Robert F.X. Sillerman, Chairman and CEO of SFX Entertainment. “The popularity of our events, and the untapped desire to attend them, combined with the promotional and sales capabilities of PRISA Radio, are precisely the kinds of expansion opportunities available to us. SFX will be able to leverage the proven appeal of many of our brands while PRISA gains unique promotional and content opportunities.”
“By way of this agreement, PRISA Radio gains access to the world’s most important entertainment events and live music content, contributing its large audiences, its capacity to act as an endorser and its wide knowledge of the music markets and of branding and sponsorship capacities in the countries where it operates. The joint effort of both these companies, led by Ms. Sandra Rotondo, Head of Prisa M’usica, shall return added value to all their brands,” said Andr’es Card’o, CEO of PRISA Radio.
About SFX Entertainment
SFX Entertainment, Inc. (NASDAQ:SFXE) is the largest global producer of live events and digital entertainment content focused exclusively on electronic music culture (EMC) and other world-class festivals. SFX’s mission is to provide electronic music fans with the best possible live experiences, music discovery, media and digital connectivity. SFX was borne out of the technology revolution and produces and promotes a growing portfolio of live events that includes leading brands such as Tomorrowland, TomorrowWorld, Mysteryland, Sensation, Stereosonic, Electric Zoo, Disco Donnie Presents, Life in Color, Rock in Rio, Nature One, Mayday, Decibel, Q-Dance, Awakenings, and React Presents, as well as the innovative ticketing service Flavorus.
SFX operates Beatport, the principal online resource for EMC DJs and a trusted destination for the growing EMC community to discover and stream music, follow DJs and keep abreast of news, information and events, in addition to offering year-round entertainment to EMC fans around the globe through other digital assets. Additionally, SFX manages FX1, an internal marketing solutions agency for consumer brands targeting the millennial culture.
About PRISA Radio
PRISA Radio is the world’s largest Spanish-language radio group with nearly 28 million listeners and more than 1,250 stations, either directly owned or operated through associates, in 12 countries: Argentina, Colombia, Costa Rica, Chile, the U.S., Spain, Mexico, Panama, Ecuador, Guatemala, the Dominican Republic and Paraguay. It has a notable presence in the most important radio markets thanks to its radio brands Caracol Radio, W Radio, Cadena SER, ADN Radio Chile, Radio Continental, Radio Panam’a, 40 Principales, Concierto, Coraz’on, Rock&Pop, Tropicana, Radioaktiva or B’esame, among others.
Forward Looking Statements
This press release contains forward-looking statements regarding our business strategy and plans, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: our ability to integrate the companies we have acquired and plan to acquire in the future; our belief that the EMC community will grow; our ability to increase the number of festivals and events we produce and their attendance; our ability to pay our debts and meet our liquidity needs; competition; our ability to manage growth and geographically-dispersed operations; and our ability to grow our online properties. We refer you to the documents we file from time to time with the U.S. Securities and Exchange Commission, specifically the section titled “Item 1A. Risk Factors” of our most recent Annual Report filed on Form 10-K and Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K, which contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. In addition, any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events, except as required by law.
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