The 2017 International Music Summit in Ibiza is underway and in a brand new report given out by Kevin Watson, the details pertaining to the growth and evolution of the dance music industry has been listed out which have managed to outline several crucial points.
As the numbers suggest, the electronic music industry continues to witness considerable growth having jumped up to a total evaluation of $7.4 billion from previous year’s $7.1 billion figure, despite showing a 0.5% decrease in overall growth rate. While the report also pointed out the increase in streaming numbers, primarily being led by dance music, it also confirmed techno as being the highest selling genre on Beatport.
Also according to the reports, artists are growing their followers mostly from Instagram. And to put things into perspective, The Chainsmokers grew their Instagram followers by 45% from March to May 2017, peaking at 3.8 million, while their Twitter also grew 40%. Additionally, Martin Garrix also experienced a follower boom with a 17% rise in Instagram followers and an 18% boost in YouTube subscribers.
But with the main topic of discussion within the industry being the lack of genre diversity, with lineups consisting of just 17% female artists, it is yet to be seen how multiple campaigns being carried out across the globe manage to force a change.
For the full report, click here and stay tuned for the latest updates!
H/T: Your EDM
Leave a Reply