Beatport CEO Matthew Adell to Step Down
Adell will be transitioning into an advisory role for parent company SFX.
Beatport CEO Matthew Adell will be stepping down into an advisory role for Beatport's parent company SFX, a spokesperson has confirmed to Billboard. "His vision and dedication has helped make Beatport the company it is today, and we wish him well in all his future endeavors," says a spokesperson.
Beatport, an online electronic music portal frequented by DJs and producers, was founded in 2004 and acquired by Robert Sillerman's electronic dance music conglomerate SFX in early 2013. “Beatport is unquestionably the source for EDM music for DJs, and consequently it provides the backbone — the DNA, if you will — for what is successful and what people like,” Sillerman told Billboard at the time. “It provides us a great starting point for really everything we do.”
Speaking to the acquisition, Adell added: "It’s like a new job, a little bit. The team at SFX has a similar strategy that Beatport always had — now we just have friends we can execute it with." Adell had said in a crowdsourced interview on Reddit last year that the acquisition was “positive," with regards to it being in Beatport's best interests.
Since SFX's acquisition, Beatport underwent a significant round of layoffs last December. SFX president Tim Crowhurst said: "We were spread a bit too thin. We had to make some hard choices, frankly, to restructure the team and get everyone focused on one vision.”
Lloyd Starr will continue on as COO of Beatport and also will be elevated to the role of president of Beatport Pro, the company’s music service for DJs. Starr, the company's third employee, was hired in 2003 before the site launched.
“I’m humbled by this opportunity to lead the evolution of Beatport into what is going to be an exciting future,” said Starr. “I’m looking forward to working with Beatport’s suppliers, partners, customers and fans to continue offering the quality experience they’ve come to expect.”