IMS Biz Report: Global Electronic Market Up 3% to $7.4 Billion
The International Music Summit in Ibizia today released its 2017 IMS Business Report, an annual in-depth economic study of the electronic music industry. The report, which looked at industry data from 2016, reported the dance music market was up 3% to $7.4 billion dollars, up from $7.1 billion the year before.
Some of the reports other highlights included:
- In the U.S., sales of electronic music were up across all formats including albums, singles and on-demand streaming. The genre now ranks as the fifth most popular genre behind rock, R&B/ hip-hop, pop and county and ahead of Latin music.
- For on-demand streaming, dance is now the fourth most popular genre with a 6% share of the market. The report also said that 57% of total Dance sales are from streaming – the highest of any genre in the U.S. And Spotify, the world's largest streamng service, has some 12 Billion electronic music streams a month.
- In terms of global markets, the report noted that Mexico and Brazil are among the top ten countries to stream electronic music. In France, dance music received the most radio airplay of any genre with 29% share of the market. In Germany dance music sales are at an all-time high with a 7% share--double what it was three years ago.
- In the live market, Forbes’ estimated earnings of Top 12 DJs fell 1% in 2016 to $300 million, which is still 12% higher than it was in 2013. The biggest earner was yet again Calvin Harris who earned $63 million dollars. Overall 16% of people in the U.S. in 2016 attended a club event with DJs.
The report noted the expansion of the live market in Latin America with Ultra Brazil and Argentina, four festivals in Mexico and the Baum Festival in Bogata. Brazil also has seven of the top 100 clubs as ranked by DJ Mag. Mexico also saw revenues from electronic dance music increase 24% year-over-year.
In terms of M&As, the report noted Sony Music UK's acquisition of Ministry of Sound for $87 million dollars and the Trilantic Capital Partners' acquisition of the Pacha Group for what was reported to be over $390 million.
The IMS Business Report was written and delivered by Kevin Watson, a London-based strategy specialist who founded Danceonomics.com, an information hub for the electronic music industry.