A while back the Association for Electronic Music (AEFM) reported that by 2018 the EDM biz could be potentially worth roughly $20 billon. The International Music Summit in Ibiza, Spain issued a report today, May 21st, stating that electronic dance music is now a $6.2 billon global industry. How did they get that figure? Well, in the study they complied sources such as festival and club revenue, record sales, streaming and video outlets, etc.
Revenue from festivals – $1.03 billion
Las Vegas club dates – $800 million
Other global club gigs – $2.4 billion
Traditional recorded music sales – $800 million
Streaming/video services – $600 million
Sales of DJ software and hardware – $360 million
DJ earnings from other ventures – $60 million
Value from other platforms like Soundcloud – $140 million
From the graph above and the figures underneath it you can see the outline of how the IMS Business Report estimated the worth of Electronic Music – $6.2 billion.
[Source: Billboard.com]
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