EDM Worth $6.2B

The global electronic dance music business is worth $6.2 billion, according to a report published on the opening day of the International Music Summit May 21.

Photo: Dave L.
LED Day Club, Hard Rock Hotel, Palm Springs, Calif.

The IMS, when the industry heads to the Spanish island of Ibiza for a three-day summit, heard how the top DJs such as Calvin HarrisAvicii and David Guetta are producing more than $3 billion from live appearance fees.

The figures came from the Association for Electronic Music, the trade body that saw set up last January at MIDEM, which also said the genre’s various festivals bring in $1.03 billion.

Traditional recorded music sales are said to be $800 million, while streaming and video services pitch in with $600 million.

This year the annual IMS conference, now in its seventh year, shifted across Ibiza to the Hard Rock Hotel in Playa D’en Bossa.

Conference co-founder Ben Turner, head of London-based Graphite Media, says the event was created so people can debate and be inspired about the future of a technology-driven genre of music. The International Music Summit was May 21-23.