SFX Entertainment Names New President & COO; Signs Sales Agreement with Viggle
SFX Entertainment, Inc. (NASDAQ:SFXE), the largest global producer of live events and digital entertainment content focused exclusively on electronic music culture (EMC) and other world-class festivals, today named Greg Consiglio as President and Chief Operating Officer of the company.
Consiglio, who holds the same titles at Viggle Inc. (NASDAQ:VGGL) the leading entertainment marketing and rewards platform, will retain those positions as well.
In addition, Robert F.X. Sillerman, Chairman and CEO of both SFX and Viggle, announced that SFX entered into an agreement with Viggle that will significantly bolster its brand partnership, media and sponsorship capabilities. Under the agreement, SFX will take over the 25-person Revenue team of Viggle, who will now have significantly more opportunities to sell.
In addition to Consiglio, there were several other changes announced:
Kevin Arrix joins SFX as EVP, and Chief Revenue Officer. He holds the same position at Viggle and will continue to do so. Tim Crowhurst will move from SFX’s President to SFX’s President and Head of Strategic Development. Ritty van Straalen will move from SFX’s COO to SFX’s President and CEO of Live Entertainment. Joe Rascoff will step down from his position as SFX’s Chairman of Live Entertainment. He will continue to serve as Vice Chairman of SFX’s Board of Directors. Chris Stephenson will leave his position as SFX’s Chief Marketing Officer to form an entertainment marketing agency that will be affiliated with SFX. According to the three-year agreement between SFX and Viggle, the combined sales organization will sell all inventory for both companies. The immediate access to the highly successful Viggle sales organization will give SFX a turnkey sales solution, while combining efforts and inventory with SFX will give Viggle access to a broader client list offering the potential to qualify for many previously unavailable sales opportunities.
“As SFX continues to fulfill its mission of adding multiple new ways for fans of EMC to stay connected with their favorite artists, events and music by adding exciting new digital and experiential opportunities, 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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