EDM.com Spotlight

EDM.com Spotlight

EDM Reported To Have Staggering Net Worth

The electronic music industry is worth around a staggering $1.9 billion, according to the IMS Business Report Kevin Watson presented at the recent International Music SummitIMS Engage. Watson is the co-founder of Danceonomics, a research group focused on studying the health of the electronic music industry. 

His findings are great news, but not unexpected considering the monumental speed at which EDM has expanded. Watson reported that the genre dominates sales on sites such as Eventbrite, accounting for about a quarter of all purchases. The US's top 12 night clubs alone raked in over half of a billion. With a music industry worth $6.2 billion, EDM has cut out a sizable piece of the pie in just a few years.

You can read the report in full over at Danceonomics. And just for fun... 

[H/T: Billboard]

Photo Credit by Chad Smith