NEWS — 08 May 2017

Over the past month Beatport has sent out a barrage of promo codes via e-mail to its users.  The online music store also heavily featured its promo codes on all of its front pages for each genre and on the main page of the site.  With such uncharacteristic and persistent promotion of promo codes without interruption, one music analyst on condition of anonymity is speculating that Beatport is experiencing further financial problems and perhaps even a crisis.  The analyst believes that Beatport download sales are continuing to decline as Spotify, Apple Music, among other influential streaming services are gaining deeper influence within the music industry.  Before Beatport’s parent company SFX Entertainment went bankrupt Beatport introduced streaming which really did not manage to gain any influence.  As a result when SFX Entertainment went bankrupt Beatport decided to focus on its core download only strategy.  Beatport streaming was terminated.  The analyst believes that Beatport streaming was a move in the right direction and that Beatport will not be able to survive within the industry if it does not make the necessary reforms and very quickly.  “On top of not being in sync with the changing times and technology the Beatport online store is also poorly managed ever since its parent company SFX Entertainment went bankrupt,” states the music analyst.  Prior to Beatport’s financial crisis the site updated on a regular basis its banners, weekly features in each respective genres and main page, as well as its “staff picks”.  All of these weekly updates gave its site visitors the necessary visibility to discover new music.  Today Beatport’s main page and genre pages do not reflect efficient timely updates.  For sometime now Beatport has not updated its genre pages with the same intensity and efficiency as before.  All of these details according to the analyst are an indicator that Beatport cut down on its work force.  “The people who were updating these pages every week on a consistent basis either are not there anymore or for some reason do not have the motivation to update these pages, these details lead one to conclude that perhaps Beatport is experiencing a financial crisis” the analyst asserts.  Rather than change its model to be in sync with streaming and compete against the giants out there Beatport not only does not update its front pages for each genre but introduced its own unique labeling of genres.  Beatport introduced a genre by the name of “Big Room”, “Left Field House & Techno”, and other unconventional genres that are not universally recognized.  All this adds further confusion and backward development to whatever the online store is trying to achieve.  Some producers and DJ’s made it known to Dancepush that after their release is out under one genre Beatport switches the genre for the release.  If the DJ or producer of the song gained early momentum through sales the switch in genre breaks the momentum and makes the artists lose their standing in charts.  “It is almost tantamount to sabotage” says one respected producer in the House genre under condition of anonymity.  “Beatport is continuing to lose legitimacy among artists, labels,  and consumers of digital dance music because it does not update its pages with efficiency in a timely manner and does not adapt to changing times,” claims the music analyst. “When your business model is decaying due to streaming you do not introduce genres that are not universally accepted or sabotage musical content of artists by switching genres, or update your site whenever you feel like it, all these phenomenons are significantly reducing Beatport’s influence, legitimacy, and even relevancy,” the analyst concludes. It seems even a thousand Beatport promo codes will not help.


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