The World’s Dance Music Industry Is Valued At $6.9 Billion

It shouldn’t be a surprise that in recent years, the electronic dance music industry has been incredibly lucrative. Just last month at strategy specialist Kevin Watson presented a new report showcased at the IMS Engage which found that the North American dance music industry is worth an astounding $1.9 billion.

Watson purports that North America now accounts for about 30% of the wider EDM industry. Watson’s study took stats and insights from numerous reports on dance music and the wider music industry into consideration — figures included recorded music sales and streams, DJ technology sales, and festival and club income. Festival and club income was the highest of all three. The study found that EDM track sales equaled an all-time high of 4.6 percent share in 2014, representing a 150% increase from its 2011 level. The report also found that EDM represents the fourth most popular genre for North American streams after R&B/hip-hop, rock and pop.

Earlier this week, Watson suggested that this is a global trend. At IMS’s 2015 Business Report, he presented a study that showed that the global electronic music industry is worth $6.9 billion, up a staggering 12% over last year. He used data compiled from Google, Official Charts Company, Nielsen, Forbes, and BPI.

H/T: Dancing Astronaut