What’s the Electronic music industry worth right now?
From techno to EDM, house to drum and bass, the electronic music industry is all about a abundance.
Last year we reported how the electronic music industry grew by 60% between 2012 and 2016 shooting from $4.5 billion to $7.1 billion.
Well the numbers are out and this year’s International Music Summit (IMS) has released its IMS Business Report.
It reveals that the global electronic music industry has grown a further 3% since last year as it comfortably dances its way to a worth of $7.4 billion.
Here are some of the key points depicting a promising future for the industry:
- Dance music is now the 5th highest grossing genre in the US.
- Beatport is returning to profit as techno takes charge.
- Drum and Bass sales have grown, indicative of a jungle massive comeback.
- Regarding’ on-demand’ streaming electronic music is now the 4th most popular genre with 6% share of the market.
- In France, dance music took 29% share of the market in terms of radio airplay.
AbunDANCE!
With regards to DJ’s the numbers point to a positive increase in revenue for underground artists.
We are seeing top-earning DJ’s paid slightly less while lower ranking DJ’s are increasing their revenue.
In the world of social media artists are noting that they can reach more followers through Instagram than Facebook at an astounding 11x the rate.
However, the electronic music industry still struggles with diversity as only 17% of line-ups consist of female artists, a dismal result that needs to change ASAP.
Check out the full report from the International Music Summit in Ibiza on the Electronic Music Industry for the past year here.
