With the International Music Summit (IMS) underway in Ibiza, the IMS Business Report has been released, detailing the changes in the electronic music industry throughout 2022.
This was the first year the report was written by a member of MIDiA Research, the leading provider of research, analysis, and data for the digital entertainment business.
And throughout the analysis, it is clear that the electronic and dance music industry has not only rebounded from the pandemic, but continued to grow.
The live sector grew at a greater rate than the label, publishing, and streaming sectors of electronic music, and Live Nation’s revenues surged above pre-COVID levels, highlighting a significant return to live events.
This can be seen in a strong increase in electronic music artists at festivals, representing 39% of bookings, up from 33% in 2021.
But the percentage of female DJs in the top 100 DJ bookings fell from 21% to 15% and male top 100 DJs saw their bookings grow 1.7 times faster than their non-male counterparts.
The US, Germany, and the UK had the three largest numbers of Spotify listeners for electronic music, but the Netherlands and Australia had a greater share of the total population that listened to the genre. This could mean that electronic music has more cultural reach and impact in these regions.
Overall, the global dance music industry grew by 34% in 2022 to $11.3 billion, 16% higher than pre-pandemic levels.
Download the full IMS Business Report for 2023 here to view all the stats.
Featured image from International Music Summit