The IMS Business Report 2017 – Key highlights

Business Report

The International Music Summit is currently on in Ibiza and have released their annual business report featuring all the major statistics related to electronic dance music.

business report

One of the most important features of the report, the EDM industry has been valued at a total $7.4 billion. An increase of 3% from last year’s $7.1 billion value, the global electronic music industry has seen positive trends from music revenue, festival expansions and an increasing fan base for artists. The future outlook is still as it’s driven by constant growth in the streaming market, new global regions like Asia and South America opening up to the market, and the maturity of the US and European markets.

In terms of music sales, Techno remains the best-selling Beatport genre, with Trance and Drum & Bass highest climbers.

Business Report

Forbes’ estimates predict a 1% fall in artist earnings with Calvin Harris leading the pack, followed by Tiesto and David Guetta. As for increasing fanbase, Instagram proves to be the best platform for fastest fan base growth. Check out the chart below:

business report

A surprising fact? The Chainsmokers are gaining 28k social media followers a day (still pretty slow compared to David Guetta’s 47k a day way back in 2011/12). Statistics from a study of 24 festivals showed that only 17% of booked artists are female, an area which still needs improving.

Two of the biggest brands in EDM, Ultra and Tomorrowland have grown exponentially with partner events across the globe.

business report

Now there are a lot more stats and highlights from the report that could not be covered here. You can have a look at the entire report right here.

Khushrav Bhada
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