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Randy Phillips steps down as LiveStyle CEO

After three years at the helm of LiveStyle, formerly SFX Entertainment, Randy Phillips steps down to focus on other projects

By Anna Grace on 06 Sep 2019

Randy Phillips steps down as LiveStyle CEO

Randy Phillips


image © Ben Clark

Randy Phillips, the man who helped to salvage SFX Entertainment post LiveStyle rebrand, is stepping down as the company’s chief executive, as first reported by Billboard.

Phillips will stay on at LiveStyle as a consultant to investors, as the company prepares to sell off several of its assets.

The former LiveStyle boss will now focus on managing US boy band Why Don’t We, whom he states “are really starting to take off”.

Phillips took over the running of Robert Sillerman-founded SFX Entertainment in early 2017. The company had become insolvent two years after launching and Phillips was brought onboard to turn it around as the company emerged from bankruptcy. He led the dance music behemoth, rebranded as LiveStyle, for three years.

In just one year, Phillips turned losses of US$30 million into earnings of $20m.

Randy Phillips, the man who helped to salvage SFX Entertainment post LiveStyle rebrand,  is stepping down as the company’s chief executive

“I was given my mission and I fulfilled my mission,” says Phillips. Under his leadership, LiveStyle sold assets including Paylogic to Vivendi and a minority stake in Rock in Rio to Live Nation and axed the US-leg of festival Mysteryland.

During Phillips’ tenure, LiveStyle made a number of high-profile hires, including Hard Events founder Gary Richards (president, North America), ex-Universal Music Group executive Chris Monaco (chief revenue officer) and NRG Productions founder Neil Ryan (senior vice president and head of North America production).

Prior to his work at LiveStyle, Phillips served as chief executive of AEG Live.

LiveStyle produces dance music festivals including Electric Zoo, Defqon.1 and Awakenings, operating through promoters and entertainment companies including Made Event and All My Friends in the United States, ID&T in the Netherlands and majority DEAG-owned I-Motion in Germany.

SFX founder Sillerman was recently charged with fraud in relation to his online publishing business, Function(x).

 


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