Electronic dance music has taken over the world
The world of electronic dance music and its ever growing reach along with its increasing visibility in the pop realm is continually being predicted to soon be irrelevant or at times even declared dead.
Despite these proclamations, the electronic dance music industry continues to grow and is seemingly taking over the world.
At the International Music Summit in Ibiza recently, music analyst Kevin Watson presented a report that suggests the electronic dance music is continuing to grow healthily.
As this infographic shows, the EDM industry is worth an impressive $7.1 billion, which is around sixty percent more than where the industry stood at four years ago.
Below is a list of particular factors that have contributed to this significant growth:
- Explosive growth overall in music streaming worldwide, in which EDM is one of the most popular genres.
- Surging interest from new regions like Asia and South America; China has opened four out of the world’s most popular new dance clubs in 2016.
- EDM is making its way into the American pop market and other established music markets.
The report that came from the International Music Summit also references the growing number of dance music related live events. These live EDM events reflect the ‘sustainable wide scale appeal’ of the genre and industry.
Despite the fact the electronic dance music train is bringing in big money, the growth of the genre has slowed down over the last year.
There have also been some recent casualties along the way, the most recent being SFX Entertainment who’s efforts to diversify ended in bankruptcy.
The genre is growing stale in places like Las Vegas where the generic parties and repetitive EDM sets have grown old for partygoers. A club manager has reported that venues pumping out EDM from their speakers all night are simply “not cool”.
Therefore seeing electronic dance music move onto newer territories such as Asia where the spark of it all is fresher and less digested as in America, can be good for the continued growth of the industry.
At some stage it will no doubt come full circle and [hopefully] EDM will be replaced by techno and house on the biggest stages.
Sourced
