An analysis of the music industry: EDM industry

EDM GROWTH STATISTICS 2018:

When it comes to music, the world has some EDM growth statistics that demonstrate how valuable music is to society. Music, more specifically EDM, or electronic dance music, has had a huge impact in recent years on its target market and on listeners around the world. In the US alone, there are several things that show how much the EDM market is starting to grow in the country. Here are few statistics showing the impact electronic dance music has had on the masses who listen to music every day.

GLOBAL MARKET:

In 2018, Billboard released a market statistic that demonstrated the value and worth of the electronic dance music market. In this statistical statement, the company shows 12 percent growth in a year where many changes occurred with this musical revolution. Since then, EDM has been incorporated into various genres and subgenres, although it has made a name for itself as well. Although the market in general has been growing, there are some submarkets that have joined this market growth.

YOUTUBE SUBSCRIPTIONS

One of the biggest helpers in the growth of this EDM market was YouTube. In the last few years alone, YouTube has been onboarding for at least three different subscriber areas. A growth of 60 percent has been observed in smartphones of all kinds, 77 percent in televisions and 175 percent in all game consoles. The YouTube versions of the released albums had grossed a total of 2.3 billion views. This is a combination of videos. This growth of EDM on YouTube has increased some numbers in the general market.

FESTIVALS AND TICKETS

Another big supporter of this general growth trend in the electronic music department is festivals and tickets to various festivals and concerts. In recent years, 2017 festival and festival ticket sales have raised around 146,999,963 total tickets. The monetary value of each ticket is different, making the annual festival season the most important time of year for sales in the electronic dance music department. This has also been incorporated with that general growth number mentioned at the beginning.

CLUBS

2018 seems to have been the big start year for EDM. Well, in 2017, along with the overall intense growth, 12 of the biggest clubs in the US started playing EDM in their clubs. These clubs include places like Las Vegas, Miami, New York, Los Angeles, and San Francisco. His total income was

generated and combined to reach a total of $ 900 million in 2016 alone. It’s safe to say that these numbers have grown in recent years as the popularity of electronic dance music has grown as well.

ALBUMS

Albums that specialize in electronic dance music have also contributed to the overall growth of this musical genre. In 2014, there were 12 EDM-specific albums that were known to be in the top 100 best-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 that year. Considering the number of people who were fascinated with music enough to buy albums is just one of the reasons why electronic music has grown considerably in recent years.

STATISTICAL SUMMARY

• 147,000,000 EDM festival tickets sold annually

• The global economic value of the EDM industry is currently estimated at $ 7.1 billion

• Only 45% of EDM listeners are women

• In Europe, 1 in 7 people have recently attended an EDM event

• North America is estimated to account for about 29 percent of the EDM industry.

• Spotify controls 12 billion streams of electronic music genres alone