2014 IMS Business Report estimates worth of electronic music at $6.2 billion
Pete Tong’s International Music Summit (IMS) in Ibiza issued a report that claims that the EDM industry is worth a whopping $6.2 billion. The pie chart above includes the breakdown of where the revenue is coming from, the figures include: revenue from festivals ($1.03 billion), Las Vegas superclubs ($800 million), global club dates ($2.4 billion), music sales ($800 million), streaming/video services ($600 million), sales of DJ hardware/software ($360 million), other ventures which include DJs ($60 million), and value from platforms such as SoundCloud ($140 million).
While Avicii, David Guetta, and Calvin Harris are leaders of the pack it looks as though the likes of Hardwell, Nicky Romero, and Zedd are showing the largest margins for growth across their social media platforms. Hardwell has quadrupled his fans added day-to-day from 2013 to 2014 and, per Music Metric data, gained an insane 70,000 fans per day during Ultra Music Festival.
Via: Billboard Biz