In a report from the International Music Summit (IMS) Business Report, it was revealed that the dance music industry had a valuation of $11.3 billion in 2022 — an increase of 34% from 2021 and a 16% increase on pre-pandemic levels — yet only 20% of music creators solely make a living from music.
The data also states 35% of musicians have dance music as part of their income, while 45% are reportedly making “zero” income from the craft.
The report also highlighted that dance music’s share on streaming platforms remains dwarfed by hip hop, which on average is listened to 2.5 times more by users. However, on TikTok and YouTube, dance music has a far higher follower share — 3.5 times that of hip hop.
One huge red flag on the report highlights the long journey the industry still needs to go in terms of equity. Despite an increase in bookings for electronic acts across the board — the number of female DJs getting hired for festivals and other events decreased from 21% in 2021 to 15% in 2022. Overall, women saw a 199% increase in bookings, male DJs saw an increase of 344%.