Nick van de Wall, known to fans across the world as Afrojack, made history this week as the first DJ to ring the Nasdaq's closing bell, as SFX Entertainment announced a $260 million IPO that sent a clear message: Electronic dance music (EDM) is here to stay.
Joining Afrojack was New York City-based SFX Entertainment CEO Robert F.X. Sillerman. The media executive also founded Live Nation Entertainment, a Beverly Hills, Calif., company that produces and markets live events.
Sillerman said that just as Elvis Presley had ushered in a "true revolution," so a new music has arrived.
"Everything in the music business that we used to listen to is a derivation of that—until electronic music," Sillerman said. "It is a cultural phenomenon."
(Read more: Online music: Recording industry embraces streaming)