The IMS Report, a cornerstone of the IBS Ibiza Conference (a popular gathering of the worldwide dance music industry) was recently presented.
Prepared by David Boyle of London’s data and analytics firm Artist Strategies, the report analyzes and presents facts and figures from across the music industry.
Findings from the report seem to demonstrate a significant rebound in the dance industry,, after hitting a ten-year low in 2021 amidst the pandemic.
Findings from the report include:
- Growth in electronic and dance music: up 71%, with a market estimated to be around $6 billion dollars.
- Across all genres and platforms,, streaming is up over 24% from last year.
- Growth in physical sales was also up, including a 51% increase in vinyl sales.
- NFT’s were particularly successful with electronic music artists, with 64% of all music-related NFT’s attributed to electronic artists.
- Gaming is HUGE: the gaming industry is 20 times as large as the electronic music industry, with interesting crossover from music labels, including Sony’s huge investments in Fortnite and Epic Games, and Warner’s huge stake in Roblox.
- Artists and DJ’s earned over $400 million in 2021 (a 111% increase from 2020) due to the return of live music.