Dance music conglomerate SFX Entertainment, which owns or have majority stake in companies globally like ID&T, Beatport and Made Event, has announced a shake up at the top of the executive food chain. This was expected after a November 2014 investors call revealed that the company was going to do an internal evaluation to see where changes needed to be made and where any overlap lied. The major shakeup lays in the marketing and rewards platform Viggle and a move to consolidate positions with executives at both firms.
The restructuring will bring Greg Consiglio over as president and COO of the company. He will remain with the same titles at SFX-owned Viggle. In addition to Consiglio, Viggle's Kevin Arrix will join SFX as executive vice president and Chief Revenue Officer — holding the same positions at both firms.
Other moves include Ritty van Straalen, the CEO of ID&T, who has been promoted from COO to CEO of Live Entertainment. Before becoming COO in June 2014, he served as Managing Director of Live Events since June 2013. Tim Crowhurst will be bumped up to head of strategic development.
Former CMO Chris Stephenson is being shown the door where he will start be starting his own marketing consultancy. Live entertainment chairman Joe Rascoff is also on the outside looking in, though he will continue as vice president of SFX's board of directors.
Robert Sillerman, Chairman and CEO of both SFX and Viggle, spoke about the organizational changes and the impact they will have on the company, via Billboard.
"These organizational changes add fuel to the excitement now upon us," said Sillerman. "This will permit individuals to be hyper-focused on making sure all our constituencies are well served. The Viggle Revenue team brings an immediate new dimension, while combining the SFX inventory provides Viggle with more scale attractive to a broader base of advertisers."
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