Communication services provider WPP plc (WPPGY, WPP.L) Monday said it has made an investment in New York city based SFX Entertainment, Inc., a digital media company that serves as a global platform for electronic dance music or EDM events. The investment is expected to enable WPP's operating companies to tap into the international EDM markets with a focus on sponsorship and branded entertainment opportunities.
WPP, talking about the new investment, credited SFX with having created a global platform for dance music through acquisition and partnership with some of the leading festivals, events, clubs and online brands and said it has a collective audience of over 100 million connected, highly mobile music fans through its various properties.
Commenting on the development, WPP Chief Executive Sir Martin Sorrell said, "...The challenge of navigating through digital and social media is daunting for clients and we believe this partnership can further develop WPP's content capabilities, particularly in new media in the youth consumer segment."
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