This week’s International Music Summit (IMS) conference in Ibiza is showcasing all things dance, with the organiser putting out its annual IMS Business Report yesterday to update the industry on the latest electronic-music figures and trends.
The figures are good. The report claims that the value of the global electronic-music industry rose by 3% in 2016/17 to $7.4bn.
There are a lot of moving parts within that overall number, and they aren’t broken down in detail in the report. Streaming looms large though: IMS claims that there are now 12bn monthly streams of electronic music on Spotify alone, while in the US, dance accounted for 6% of on-demand audio consumption in 2016, up from 4.7% the previous year – and over-indexing its 4% share of overall consumption.
Other data points picked out in the report: dance has doubled its share of turnover in Germany in the last three years to 7%; it was the most-played genre on French radio last year and second only to rap on streaming services there; Beatport turned a profit in the first quarter of 2017 and is showing growth in visitors, registered users and track sales; and 16% of Americans attended a club event with DJs in 2016.
The report also offers some criticism of the dance industry on diversity grounds, noting that a study of 24 electronic-music festivals found that only 17% of artists were women. It gives props to the CTM festival for reaching 45%, but dings the Beyond Wonderland festival’s woeful 3%.
Finally, IMS hails the dance world’s willingness to experiment with technologies including VR, livestreaming, messaging bots and on-demand video services.