Electronic Dance Music: The Statistics You Need to Know
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Electronic Dance Music has taken the world by storm. In this blog post, we’ll take a look at some of the most interesting statistics about this genre of music.
The Growth of Electronic Dance Music
Electronic dance music has been around for decades, but it has only recently started to gain mainstream popularity. In the past few years, electronic dance music has exploded in popularity and is now one of the most popular genres of music. Let’s take a look at the numbers to see just how popular electronic dance music has become.
The global EDM market is expected to grow
According to a recent report by MarketsandMarkets, the global EDM market is expected to grow from $7.4 billion in 2016 to $11.8 billion by 2021, at a CAGR of 9.5%. This growth is being driven by the increasing popularity of EDM festivals and concerts, the growing popularity of streaming services, and the increasing sales of EDM-related merchandise.
There are a number of factors that are contributing to the growth of the EDM market. One of the most important is the increasing popularity of EDM festivals and concerts. In 2016, there were over 860 EDM festivals held around the world, attracting a total of nearly 6 million people. This was up from just 557 festivals in 2013, and the number is expected to continue to grow in the coming years.
Another factor that is driving the growth of the EDM market is the increasing popularity of streaming services. Spotify, Apple Music, and other streaming services have made it easier than ever for people to discover and listen to new music, and they are increasingly turning to these platforms to do so. In fact, Spotify reported that its number of active users grew by 50% in 2017, while its revenue grew by 38%.
Finally, another factor that is driving growth in the EDM market is the increasing sales of EDM-related merchandise. This includes items such as t-shirts, hats, posters, and other items that are often sold at EDM festivals and concerts. According to one estimate, sales of EDM merchandise totaled $1.3 billion in 2016, and this figure is expected to grow in the coming years.
The US EDM market is expected to grow
In 2018, the US EDM market was worth $7.4 billion and is expected to grow to $8.1 billion by 2020. The global EDM market is worth $10.9 billion and is expected to grow to $12.9 billion by 2020. Electronic dance music (EDM) is a genre of music that is created for and often played at nightclubs, bars, festivals, and events. The music is often characterized by a fast tempo, strong beat, and synthesized sounds. EDM has been growing in popularity in recent years, particularly among young adults in the United States.
The Popularity of Electronic Dance Music
In recent years, electronic dance music has become one of the most popular genres of music. This is evidenced by the fact that it is now one of the most streamed genres on Spotify. In this article, we’ll take a look at the popularity of electronic dance music and some of the statistics that you need to know.
The top 5 most popular EDM genres
There are many different genres of electronic dance music, but some are more popular than others. Here are the five most popular EDM genres, based on listener data:
1. Trap: A style of hip-hop that often features heavy bass and 808 drums.
2. Future Bass: A subgenre of trap that is melodic and often incorporates elements ofpop music.
3. Dubstep: A bass-heavy genre that originated in the UK underground scene.
4. House: A style of dance music that originated in Chicago in the 1980s.
5. Drum and Bass: A fast-paced genre that often features breakbeats and synthesizers.
The top 5 most popular EDM festivals
1. Tomorrowland: Held in Boom, Belgium, this festival has been cited as one of the best in the world. It features some of the biggest names in EDM and attracts over 400,000 people each year.
2. Ultra Music Festival: Another massive festival, Ultra takes place in Miami and attracts close to 170,000 people. It features different stages that cater to different genres of electronic music.
3. Electric Daisy Carnival: This Las Vegas festival is one of the largest in North America, with over 350,000 people attending each year. It features a wide range of EDM genres and is known for its elaborate stage setups.
4. Creamfields: This UK-based festival is one of the largest dance music festivals in Europe, attracting over 70,000 people each year. It features a wide range of EDM genres and has a long history dating back to 1998.
5. Mysteryland: This Dutch festival is one of the oldest electronic music festivals in the world, dating back to 1993. It takes place in Haarlemmermeer and features a wide range of EDM genres.
The Economic Impact of Electronic Dance Music
The electronic dance music industry is worth billions of dollars and it continues to grow every year. A lot of this growth is due to the popularity of festivals like Tomorrowland and Ultra. But what about the economic impact of EDM?
The global EDM industry is worth $7.4 billion
A new report from Goldman Sachs estimates that the global EDM industry is now worth $7.4 billion. This is up from $6.9 billion in 2016 and $4.5 billion in 2013.
The report attributes this growth to a number of factors, including the increasing popularity of EDM festivals, the expansion of the genre into new markets, and the growing popularity of streaming services like Spotify and Apple Music.
Interestingly, the report notes that China has become a major growth market for EDM, with the country now accounting for 10% of the global industry’s value. This is up from just 3% in 2013.
The US EDM industry is worth $1.1 billion
The United States electronic dance music industry is worth $1.1 billion, according to a report from the findings of the first-ever global study on the economic impact of the genre.
The report, which was conducted by Data for Good and commissioned by The Nightlife Summit, states that the industry generated $4.4 billion in global revenues in 2017 alone. $1.1 billion of that came from the United States, with the rest spread out across Europe ($2.2 billion), Asia ($700 million), and South America ($400 million).
This study is the first of its kind to focus exclusively on the economic impact of electronic dance music, and its findings are likely to be used by industry stakeholders to argue for greater investment in the genre.
The report’s authors say that the US EDM industry directly supported over 54,000 jobs in 2017, and generated $1.6 billion in labor income. They also found that the industry had a “multiplier effect” of 2.5, meaning that for every dollar spent on an EDM event or festival, an additional $2.50 is injected into the wider economy.
The Future of Electronic Dance Music
The global EDM market is expected to grow
The global EDM market is expected to grow from $6.9 billion in 2019 to $8.9 billion by 2024, according to a report by MarketsandMarkets. This represents a compound annual growth rate (CAGR) of 5.6%.
The growth of the EDM market is being driven by a number of factors, including the increasing popularity of streaming services, the growing popularity of live events, and the increasing use of social media to promote events.
In terms of geography, North America was the largest EDM market in 2019, accounting for a 38.1% share of the global market. Europe was the second largest market, accounting for 27.4% of the global market, followed by Asia-Pacific (19.3%), Latin America (7.4%), and Middle East & Africa (7.8%).
The North American EDM market is expected to grow at a CAGR of 5.5% during the forecast period, while the European and Asia-Pacific markets are expected to grow at CAGRs of 6.0% and 5.7%, respectively.
The US EDM market is expected to grow
The US EDM market is expected to grow from $6.9 billion in 2016 to $7.6 billion in 2021, at a CAGR of 2.8%. The major drivers of this market are the increasing number of music festivals and the growing popularity of social media platforms.
In terms of genres, the EDM market is classified into house, techno, trance, drum & bass, and others. House and techno genres are expected to grow at the highest CAGRs during the forecast period. This growth is attributed to the increasing popularity of these genres among DJs and music festival organizers.
The EDM market is also segmented on the basis of platforms, which include online streaming, digital downloads, and CDs & DVDs. Among these platforms, online streaming is expected to grow at the highest CAGR during the forecast period owing to factors such as increasing broadband penetration and declining data costs.
