Dance music industry valued at $11.3 billion following post-pandemic growth
The industry has surged ever since pandemic-era restrictions have been lifted, with 34% revenue growth and revenue up across all categories.
Credit: Kevin Su/Alamy
The dance music industry has been valued at a whopping $11.3 billion following a spate of post-pandemic growth.
A new report authored by MIDiA Research’s Mark Mulligan from thought leadership platform IMS Ibiza has revealed that the industry has surged ever since pandemic-era restrictions have been lifted, with 34% revenue growth and revenue up across all categories – up 16% from pre-pandemic figures. The growth is fuelled by several factors including the resurgent creator tools sector that accounts for a third of the industry’s growth, as well as music publishing revenues that have grown twice as fast as recordings in 2022.
Additionally, the live sector had the strongest showing, with 2022 seeing festivals and clubs rebounding to contribute nearly half of all dance industry revenues. The cultural relevance of electronic music has also been strengthened by the rise of TikTok as a platform for fan engagement, with electronic music growing ten times faster than other traditional genres like hip hop.
The electronic music industry is poised for further growth as the post-pandemic recovery continues, the report concludes, with the live, publishing and creator culture sectors set to drive more success for the genre in the future.
The full report can be downloaded from IMS Ibiza’s website.
