As mentioned earlier the 2016 International Music Summit began in Ibiza this week. Its purpose is to give us a better look at the inside of the industry and they did a report measuring the growth, yielding big results.
The net worth of the dance music industry has grown by 59% over the last 3 years to a huge $7.1 billion dollars, according to data from the IMS. This is due to things like streaming music gaining popularity, new regions being marketed like South America and Asia and also the U.S. market maturing and having wide scale appeal. Despite the big gains it was seen that growth slowed down to 3.5% this year but the outlook is still positive with more people than ever getting involved in dance music in some way. Dance music has been huge for years and has more recently just gotten attention in pop culture. But it has now completely taken over Las Vegas and if you go to a place like Ibiza you can see this is not something that was just started. It is good to see something appreciated for everything it can bring. Check out the data chart an more facts here.