Electronic dance music is a $6.2 billion global industry, per a new report issued at the International Music Summit in Ibiza, Spain Wednesday (May 21).
As compiled by EDM trade group the Association for Electronic Music (AFEM), the figure includes revenue from festivals ($1.03 billion); Las Vegas club dates ($800 million) and other global club gigs ($2.4 billion); traditional recorded music sales ($800 million) and streaming/video services ($600 million); sales of DJ software and hardware ($360 million); DJ earnings from other ventures ($60 million) and value from other platforms like Soundcloud ($140 million).
Elsewhere in IMS’ report, the organization points out the explosive growth of electronic/dance music sales in the U.S. (the only genre to post year-over-year sales gains in 2013, per Nielsen SoundScan) as well as DJs’ earnings, with the top 10 DJs on Forbes’ 2013 Electronic Cash Kings earning a combined $225 million, nearly double the $114 million earned by the top 10 in 2012.
America surrendered to European taste again: EDM is (after rock and disco) the third US-invented music genre that however was accepted by America only after it was re-introduced back into the US by Europeans after it became mainstream in Europe first
