There is no doubt that the world of electronic dance music is on fire right now, with different topics trending on a seemingly daily basis. That being said, numbers don’t lie. So, let’s take a look at some:
EDM grew 37% in valuation from 2012/13 to 2013/14, an unprecedented growth seldom seen in the music industry that raised valuation from $4.5 to $6.2 billion. The official estimates from the International Music Summit: Ibiza are now in for 2013/14 – 2014/15 and measure an additional 12% growth, raising the international value of the electronic dance music industry to a whopping $6.9 billion.
This accompanies a $2 billion valuation for the whole of EDM in North America and $1 billion in the Asia-Pacific region.
In addition to the expected infographics, Kevin Watson – the man behind the IMS report, threw in some fun factoids courtesy of Eventbrite. For example a quarter of all nightlife tickets sold in the US are for electronic music events, and an average night out costs around $80.
Check out the full IMS Ibiza report here for accurate information about the state of the EDM industry and current trends.