The EDM Industry Is Now Worth $6.9 Billion
Here’s one for everyone who says that EDM is just a trend that is on its way out the door. The global EDM industry is now worth $6.9 billion, up from $6.2 billion in 2013. Yes, BILLION. This figure is part of an annual study on the EDM industry taken by International Music Summit (IMS) and includes Music sales, DJ and live acts, live venues, and EDM brands.
The study includes some interesting statistics about the state of the industry. In the US, digital sales of dance songs are 1.5 times those in 2011 while there are ten times as many tracks available on Beatport as there were in 2008. The top three earners in the DJ category from 2012-2014 were Calvin Harris, David Guetta, and Avicii, with Harris raking in $66 million last year. In 2014 alone, the top 12 largest EDM venues generated half a billion dollars in revenue while a quarter of all concert tickets sold were for EDM events. The festival industry has also seen tremendous growth over the last seven years. The full report can be viewed here.
While trends will come and go, the evidence is all there that the EDM industry is showing no signs of slowing down.