Electronic dance music is now worth $4.5bn (£2.9bn) in global revenues per year, according to the Ibiza International Music Summit (IMS) business report.
Research launched at this year’s Ibiza IMS showed that annual revenue from Las Vegas now contributes $600m.
Sales of digital tracks in the US have grown to more than three times that of other music genres, indicating just how far so-called ‘EDM’ has come.
Ben Turner, IMS partner, said: ‘This was our strongest IMS to date. Coming off the back of IMS Engage, it really feels there is strong momentum for us as a business platform.
‘And with the development of the Association for Electronic Music (AFEM) and the key quotes from speakers like Bob Lefsetz, the continued rise of Nile Rodgers, the honesty and warmth of Sven Vath, the legend status for Fatboy Slim and beyond, IMS has managed to put the business of electronic music into the headlines all around the world.’
This year’s event took place 22-24 May at the Ibiza Gran Hotel, Ibiza.
Chic’s Nile Rodgers and Bristol dance producer Eats Everything were responsible for creating this year's IMS anthem.
You can read our full interview with Eats Everything from earlier in the year.
Find out more about Amplify, PRS for Music’s dance music initiative.
Research launched at this year’s Ibiza IMS showed that annual revenue from Las Vegas now contributes $600m.
Sales of digital tracks in the US have grown to more than three times that of other music genres, indicating just how far so-called ‘EDM’ has come.
Ben Turner, IMS partner, said: ‘This was our strongest IMS to date. Coming off the back of IMS Engage, it really feels there is strong momentum for us as a business platform.
‘And with the development of the Association for Electronic Music (AFEM) and the key quotes from speakers like Bob Lefsetz, the continued rise of Nile Rodgers, the honesty and warmth of Sven Vath, the legend status for Fatboy Slim and beyond, IMS has managed to put the business of electronic music into the headlines all around the world.’
This year’s event took place 22-24 May at the Ibiza Gran Hotel, Ibiza.
Chic’s Nile Rodgers and Bristol dance producer Eats Everything were responsible for creating this year's IMS anthem.
You can read our full interview with Eats Everything from earlier in the year.
Find out more about Amplify, PRS for Music’s dance music initiative.
