The electronic music sector has bounced back from the Covid-19 hit it took in 2020, but has yet to regain its pre-pandemic heights. That’s the headline conclusion from the annual IMS Business Report, published during the IMS conference in Ibiza. The report estimates that electronic music’s valuation was $6bn in 2021, up from $3.4bn in 2020, but still short of its $7.4bn peak in 2016.
The $6bn breaks down into $2.5bn of revenue generated by clubs and festivals; $700m of DJ and artist earnings; $1.4bn of music sales and streaming revenue; $1.2bn of software and hardware sales; and $200m of education revenues.
There’s a lot more in the 136-page report: analysis of diversity, brand partnerships, digital fan engagements and more.
Tools: platforms to help you reach new audiences
Tools :: Wyng
Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…