A sign of the times: acid-house pioneer DJ Pierre’s Twitter bio reads “I was a member of the group Phuture and together we created the genre of EDM known as Acid.” And as the EDM wave continues to roll across the US, the industry is adapting. Witness Sony Music‘s announcement yesterday of an investment in dance label Ultra Music, making its president Patrick Moxey the new president of electronic music at Sony Music. The Financial Times reports that Ultra’s revenues have been growing 20% a year to reach $30m in 2012, while signing up more than 1m subscribers to its YouTube channel, which generates 100m views a month – potentially $500k of monthly revenues based on figures shared by other labels on their YouTube ad partnerships. Moxey says Sony is committed to EDM: “They very much want to be in this space because it’s exploding.” Although he also admits that “A lot of good companies are piling in and there are going to be some mistakes.”

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