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An Analysis of the Music Industry: EDM Industry

EDM GROWTH STATISTICS 2018:

When it comes to music, the world has a few EDM growth statistics that prove just how valuable music is to society. Music, more specifically EDM, or electronic dance music, has made quite the impact these past few years toward their target market and listeners all over the world. Just in the US alone, there are several things that prove just how much the EDM market is starting to grow in the country. Here area few statistics that show the impact that electronic dance music has been having on the masses who listen to music every day.

OVERALL MARKET:

In 2018, Billboard released a market statistic that proved the value and worth of the electronic dance music market. In this statistical statement, the company shows a 12-percent growth within one year where many changes took place with this musical revolution. EDM has since been incorporated in various genres and subgenres, although it has made quite the name for itself as well. While the overall market has been growing, there are a few submarkets that have incorporated into this market growth.

YOUTUBE SUBSCRIPTIONS

One of the biggest helpers in this EDM market growth was YouTube. Just in the past few years alone, YouTube has incorporated for at least three different areas of subscribers. 60-percent growth has been seen on smartphones of all kinds, 77-percent on televisions, and 175-percent on all gaming consoles. The YouTube versions of the albums released had grossed a total of 2.3 billion views. This is a combination of videos. This growth for EDM on YouTube has brought a few numbers up in the overall market.

FESTIVALS AND TICKETS

Another big supporter of this overall growth trend in the electronic music department is the festivals and tickets to various festivals and concerts. In the past few years, the 2017 sales from festivals and tickets to festivals have been grossed around 146,999,963 total tickets. The money value for each ticket is different, which makes the annual festival season the largest times of the year for sales in the electronic dance music department. This has also incorporated with that overall growth number mentioned at the start.

CLUBS

2018 seems to have been the big starting year for EDM. Well, in 2017, along with the intense overall growth, 12 of the largest clubs in the US alone began to play EDM in their clubs. These clubs include places like Las Vegas, Miami, New York, Los Angeles, and San Francisco. Their total revenue was

generated and combined to come up with a total of $ 900 million just in 2016. It is safe to say that these numbers have grown in the past few years as the popularity of electronic dance music has grown as well.

ALBUMS

Albums that specialize in electronic dance music has also contributed to the overall growth of this genre of music. In 2014, there were 12 EDM specific albums that were known in the top 100 selling albums during that year. in 2016 there were 36. This means that 12 albums, covered in electronic dance music, sold enough albums to be in the top 100 albums for that year. Considering how many people were entranced with the music enough to purchase albums is only one reason why EDM has grown significantly in the past few years.

SUMMARY STATISTICS

  • 147,000,000 EDM festival tickets are sold annually
  • The global economic value of the EDM Industry is currently estimated at $ 7.1 Billion
  • Only 45% of EDM listeners are female
  • In Europe, 1 in 7 people have recently attended an EDM event
  • North America is estimated to represent around 29 percent of the EDM industry
  • Spotify commands 12 billion streams from electronic music genres alone



Source by Suman Choudhury

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Iowa City, Iowa AreaPerforming Arts
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