Is the golden era of EDM over? With a new report from the International Music Summit’s annual economic study, alarming statistics show a steep decline in EDM’s share of the music market; which is almost down to 3% in 2018 in the USA alone. A closer look into the data shows a steady decline from 3.5% in 2017, and 4% in 2016. With a significant decline in the USA & UK, EDM rebounded in both Germany and Canada with a 7.1% increase and a 5.9% increase. Perhaps the Deadmau5 cube show has helped with his Canadian fanbase.
DJ Earnings Down
As for DJ earnings; highest-paid DJs fell dramatically. The top 10 total of $261 million was the lowest it has been since 2013. According to the report, Calvin Harris remained the top paid DJ at $48 million, lower than the $48.5 million he pulled in 2017 with The Chainsmokers in a close second, with earnings up 20% from the previous year to $45.5 million.
Some other interesting statistics worth mentioning from the report:
- IFPI survey ranks Dance as the World’s 3rd most popular genre; an estimated 1.5 billion people typically listen to it
- Techno is consistently the best-selling genre; Melodic House & Techno up to #5 just a year after launching
- Videogames industry is worth 7x more than music, and represents a huge opportunity for Electronic DJs & artists
- Pitchfork analysis showed only 19% of festival artists were female in 2018; 150+ events aiming for 50% by 2022
- 73% of independent musicians have experienced negative emotions, driven by fear of failure and many other factors including stress, anxiety and /or depression as well as panic attacks.
- More people than ever are attending live music events, with festivals showing the highest YoY increase in 2018
- Global recorded music revenues grew by 9.7% in 2018, driven by streaming, and all geographies except Europe
Check out the full report here.