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React Presents, Made Event and More Owed Millions by SFX

React Presents' Spring Awakening Music Festival

React Presents’ Spring Awakening Music Festival

Only last week we reported that SFX Entertainment filed for Chapter 11 bankruptcy in a final attempt of restructuring and salvaging whatever possible from their dire financial situation by erasing their $300 million of outstanding debt.

We have now learned through an IQ Mag report that 11 of SFX’s largest “non-insider” creditors – i.e. those that aren’t directly associated with SFX founder and owner Rober FX Sillerman – are the direct owners of the many companies that SFX added to their portfolio since 2012. According to the report, SFX’s assets are listed at $661.614m with debts of $490.236m. Sillerman and entities controlled by him own 37.8 per cent of the company’s common stock at the time of writing.

From the report, it can be learned that SFX’s largest American creditors are Made Event, founders of Electric Zoo in New York, Electric Zoo Mexico City and Electric Zoo Beach Tokyo, who are still waiting payment of around $10 million. React Presents in Chicago, responsible for a vast percentage of EDM-related events in the entire Midwest including Spring Awakening Music Festival, Summer Set Music & Camping, the Mid and Concord Hall, is owed $5.8 million.

Elsewhere, reports highlight that the Netherland’s Alda Events (at the top of the creditor’s list) is out $23.6 million while Australia’s Totem OneLove Group, promoters for Stereosonic festival, are owed $10.7m.

Three co-founders of Hoeksema Holdings (Paylogic) are also owed three separate amounts each ranging from half a million to $2.5m. Several trade creditors that are still owed money include private air-charter firm VistaJet ($1m), Epic Tents ($442,650), PRS for Music ($327,680), NYC-based app-builder Postlight ($315,000), Front Gate Ticketing ($301,400) and an event medical services firm CrowdRX ($269,600).

What this list essentially is, are the various entities and individuals still awaiting deferred payments by SFX. Due to the nature of the Restructuring Support Agreement, it is safe to assume that creditors will continue to have a strong vested interest and involvement in ensuring SFX’s restructuring is successful.

Source: IQ Mag

Electric Zoo Transformed: Experience it Live on Beatports Twitch Channel

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Caught a cold? Lost your wallet? There are a multitude of reasons why many may not be heading out to Electric Zoo this year, but have no fear. Thanks to Beatport and T-Mobile, you will get to experience this world renowned festival through the comfort of your own computer or smart phone.

Electric Zoo will be taking place this Labor Day Weekend (September 4, 5 & 6) at Randall’s Island Park, with the live stream being available to everyone throughout the weekend.

The Electric Zoo line up includes a huge roster of superstar DJ’s from all genres, with the live stream mostly catering to the fans of Big Room and “Beatport” Progressive. The Electric Zoo live stream will feature artists such as Above and Beyond, Ansolo, Audien, Bassjackers, 3lau, Borgore, Brillz, Claptone, Coone, Deorro, Don Diablo, Dirty South, DVBBS, EDX, Sam Feldt, Gramatik, Headhunterz, Oliver Heldens, Thomas Jack, Keys n Krates, NERVO, Robin Schulz, TJR and more.

Watch live video from Beatport on www.twitch.tv

Electric Zoo’s NYC Labor Day Line-Up

Electric Zoo 2015Electric Zoo is one of New York’s premier events to attend over the Labor Day weekend. Made Event’s Electric Zoo 2015 takes place over three full days from Friday through Sunday – September 4th, 5th and 6th on Randall’s Island in NYC.

Electric Zoo has formed a creative partnership with European festival veterans ID&T for this years festival. Some of EZOO’s top artists in 2015 include The Chemical Brothers, Above and Beyond, The Martinez Brothers, Pete Tong, Paco Osuna and Adam Beyer. The Sunday School stage, co-hosted by the Dutch techno festival ‘Awakenings’ Friday and Saturday and Pete Tong on Sunday, clearly has the most consistent line-up all weekend but check out the full line-up below.

EZTransformed_lineup_byDay

Electric Zoo was forced to close early due to bad weather last year (2014), so everyone’s looking forward to bringing it home on Sunday this Labor Day weekend.

Single day passes are available (Friday $109, Saturday $119, Sunday $99) or a 3 day pass will set you back $239 plus service charges.

Make sure to stay up to date with Electric Zoo for more information and details:

Official Website | Tickets | Facebook

A Look Inside Sunday School

Sunday School has become one of the iconic clubbing brands striving to keep the underground vibes alive. In this brief documentary, artists and those involved with Sunday School like Josh Wink and Francis Harris give some insight into the history of the Sunday afterhour, the “Vinyl Only” Stage at Electric Zoo, and their perspective on what makes the Sunday School special. Check out the full story here 

A Look Inside Sunday School

Sunday School has become one of the iconic clubbing brands striving to keep the underground vibes alive. In this brief documentary, artists and those involved with Sunday School like Josh Wink and Francis Harris give some insight into the history of the Sunday afterhour, the “Vinyl Only” Stage at Electric Zoo, and their perspective on what makes the Sunday School special. Check out the full story here 

A Look Inside Sunday School

Sunday School has become one of the iconic clubbing brands striving to keep the underground vibes alive. In this brief documentary, artists and those involved with Sunday School like Josh Wink and Francis Harris give some insight into the history of the Sunday afterhour, the “Vinyl Only” Stage at Electric Zoo, and their perspective on what makes the Sunday School special. Check out the full story here 

A Look Inside Sunday School

Sunday School has become one of the iconic clubbing brands striving to keep the underground vibes alive. In this brief documentary, artists and those involved with Sunday School like Josh Wink and Francis Harris give some insight into the history of the Sunday afterhour, the “Vinyl Only” Stage at Electric Zoo, and their perspective on what makes the Sunday School special. Check out the full story here