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How Much Is the Global Electronic Music Industry Worth? 10 Takeaways From 2024 IMS Report
The 2024 IMS Business Report, assessing the health of the dance industry, had these 10 key findings.
“HYBE and Believe grew the fastest,” the report states, “representing the spearhead of a new generation of record labels that pursue revenue streams closely aligned with the dynamics of today’s fan and creator centered music business.” The platform is forecasted to have at least another 10% growth of the genre, with the report stating that “SoundCloud is both consolidating and expanding its long-term position as one of the global homes of electronic music fan communities.” In a survey of members of the Association For Electronic Music and IMS delegates, 82% of respondents said that the industry was doing well on gender issues related to diversity of lineups and employees.
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