The owner of Beatport, SFX Entertainment has officially filed for bankruptcy today. The same company is also behind many of our biggest festivals, such as Tomorrowland and Electric Zoo.

Beatport was purchased just two years ago by SFX Entertainment. All that we can assume from this latest piece of information is this could be the last of SFX CEO Robert Sillerman's involvement with Beatport regarding it's sudden downfall.

We don't doubt this is the end for Beatport. In fact, it could turn out to be good news, enabling them to become private and to alleviate them from their debt accrued by their parent company. Who will be in line to buy this bankrupt brand?

However, the truth of the matter is: Beatport is bust.