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Electronic music revenues grew 16% higher than pre-pandemic levels in 2022, research finds
By Andy Malt | Published on Thursday 27 April 2023
The IMS Ibiza conference is underway in, well, Ibiza, right now. And to prove it, event organisers have published their annual IMS Business Report, detailing the current state of the electronic music business. It values said business at $11.3 billion globally and records particularly strong growth in live events last year.
In fact, the report finds that dance music live revenues were up 65% year-on-year in 2022, reaching $4.1 billion. Though that’s mainly post-COVID revival growth, of course. The 2022 live revenues are still slightly below 2019 levels – when they were at $4.4 billion – with electronic music’s share of the wider live market actually declining.
Recording and publishing revenues also increased – together up 13% year-on-year to $1.9 billion. That’s largely in line with wider industry growth, although electronic music did see a slight increase in market share last year when it comes to music rights.
Overall the electronic music industry grew by 34%, from $7.6 billion in 2021 to $11.3 billion in 2022. The post-COVID revival is a big part of that general growth as well, of course. However, the wider electronic music market is up on pre-pandemic levels, it having been valued at $8.9 billion in 2019.
This year the report was authored by MIDiA Research, expanding the number of datasets used in its analysis. The company’s MD Mark Mulligan says: “MIDiA Research is proud to have compiled the 2023 edition of the IMS Business Report, building on the great work of its previous authors”.
“After a couple of pandemic-impacted years”, he adds, “the global dance music industry is back in top gear and this report reflects how growth has returned across all the various aspects of its thriving business”.
