The founder of EDMtv, Matt Bolton, recently purchased EDM Magazine for the interesting price of $2.5 million. The new ownership is transitioning to becoming Electronic Dance Magazine, with the focus on becoming an industry-specific trade magazine.
The relaunch will begin in late-November, and according to the site’s Editor-In-Chief Lesley Wright, we should be prepared to be surprised. Wright, a former editor at DJ Mag, will be joined by the founder of the magazine Yoel Barrios, who will stay on as publisher. The idea of an EDM-centric media enterprise being sold for millions of dollars, and that medium being a magazine, is indeed surprising, especially given the current feeling in the dance music industry landscape.
While the growth of festivals is undeniably regressing in America, the genre is just getting started in the world’s most populated country, China. Dance music around the globe is here to stay, but shifting focus in the EDM magazine market, at that price, seems like a tough task.
According to Bolton, the magazine wants to wants to become an “expert source” for those interested in quality content, rather than filler for non-ad space.
“We will be diligent and purposeful in our coverage and are committed to reporting on all facets of the electronic music culture; the good, the bad and the sometimes, ugly. The magazine will be further defined by well researched business news and topical columns written by experts in their respective fields so that we educate as well as entertain”. – Matt Bolton via Complete Music Update
We’re interested, and the future of EDM Magazine should tell us something about the business of covering dance music while the genre is generally considered to be on the decline. Either way, the belief and drive is inspiring, and is something we can relate to. Let us know what you think of the move, and whether or not you’ll be checking out Electronic Dance Magazine when it launches next month! Comment below, on Facebook, or reply on Twitter!