EDM Market Still Growing But More Slowly
Electronic Dance Music has been one of the biggest trends in music in recent years, but it looks to be slowing down.According to the latest IMS Business Report 2015, EDM grew about 12% last year, which on the surface is great, but down considerably from the the 37% growth of the previous year.
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The total market for EDM is now estimated at a very substantial $6.9 billion. North America represents about 29% of that market at around $2 billion.
Still, many data points indicate the genre is beginning to flatten out. First of all, U.S. track sales of EDM stood at 4.6%, the same as in 2013. The same with music festivals, although they're still huge with over 1.4 million attending.
One area that's still is growing is DJ equipment, especially in the United States. The U.S. accounts for 40% of the DJ equipment market, which grew 16% last year. As a comparison, stringed instruments and amplifier sales fell 2 and 3% last year.
Of course, the major DJs are still hot and making more money than ever, with the top 10 earning about $305 million last year. Calvin Harris tops the list at $66 million, or about $1 in every hundred brought into the industry.
