Shortly after SFX Entertainment announced earnings which increased to $143.5 million, the company has seemingly planned a big change.
In a statement to Billboard, Sillerman emphasized restructuring over downsizing. “Having completed many acquisitions, we are in the process of determining where there is duplication, as well as where we can enter new businesses by reallocating people,” he said. “There are no specifics beyond that at this time.”
SFX’s online properties could be affected by the upcoming changes. Chief financial and administrative officer Richard Rosenstein said SFX has consolidated its online properties through Beatport and, after next month’s re-launch, SFX will seek to “better rationalize and streamline these efforts” through cost savings and other initiatives.
“As a result, platform and overhead expenses will come down in the fourth quarter and throughout 2015,” he said.