The global dance music industry is worth $6.9 billionIMS Ibiza 2015

The global dance music industry is worth $6.9 billion

Last month, strategy specialist Kevin Watson presented a study he compiled on the value of the North American dance music industry at Hollywood’s IMS Engage. His 2015 business report — which sourced Nielsen and Eventbrite, among others — found that in the US alone, the electronic music sphere is worth $1.9 billion.

Earlier today, Watson presented an all-inclusive business report of the global electronic music industry at IMS Ibiza. The followup study, which is largely composed of the same graphs and charts used in his April findings, claims that the electronic music industry is worth $6.9 billion on a worldwide scale: a significant 12% increase since 2014.

The data he uses, such as Martin Garrix’s social media growth across the globe within the last year, or Nervo’s influence in assisting other female DJs to gain traction in Asia, is oddly specific. However, each of the charts Watson uses display the considerable impact that these seemingly small aspects have had on dance music’s sweeping growth.

Watson also points to factors such as DJ Mag’s Top 100 Clubs of 2015 — 18 of which are in the US, 16 in the UK, 10 in Spain, and so on. More importantly, he sheds light on the fact that more DJs than ever are now partnering with high-end brands, deeming them as direct competitors with more mainstream celebrities. For example, David Guetta’s partnership with Mumm champagne for his “Dangerous” music video or Calvin Harris’ collaboration with Emporio Armani Underwear, eye ware and watches.

Finally, it is no secret that electronic music’s integration into popular culture has contributed to the genre’s valuation. In 2015, The Ultimate DJ launched, We Are Your Friends is slated for an August premiere, a biography on Calvin Harris was released, and the Museum of Modern Electronic Music will soon open in Frankfurt. The question remains: how much more can dance music grow?

Click here to see Kevin Watson’s full IMS Business Report 2015.

Via: Music Week

Tags: , , ,