Universal's capital, cred and connections "give us the ability to cement Philadelphia as a key player in the music industry," he added. "We want to carry on that legacy into a new chapter, and within an evolved industry that we are helping redefine."
The city still produces big artists, like Meek Mill, he notes. And music ventures like Milk Boy -- "label, venue and retail." And music-related businesses like CID, the ticketing agency that offers VIP treatment for summer music festival-goers who like to rock out but prefer pop-up rental comforts to hippie-style mud.
But Fiebach sees potential for more: As a music-business center, Philadelphia remains "the only major metro area where you can be in New York, in the center of the business world, in 90 minutes, when you need to," then head home to "focus and do our thing."
It's also a good place, he says, to hire "amazing tech talent and marketing talent," without having to worry they'll quick jump overboard to local competitors, says Fiebach. He's brought in interns and recent grads from Drexel, Penn and Temple, and notes that local software employers like Curalate are helping build the Philly tech talent pool.
The firm has satellite offices in NYC and LA, with retail services (tshirts, jackets, package fulfillment) outsourced to firms in Detroit, Atlanta and Britain. Mostly, "we're going to grow here in Philly," Fiebach says, where he grew up playing ball at the Star Garden courts, 6th and Lombard, as a diehard fan of Sixers star Allen Iverson (an A.I. jersey is enshrined over Fiebach's desk.)
As one of SFX's most marketable assets, Fame House was "the first company to get out of the bankruptcy, in a 363 (asset) sale," Fiebach recounts.