A 3% increase doesn’t seem like much at all, but when $6.9 Billion jumps to $7.4 Billion, it’s worth talking about. Over the course of last year, the global EDM market saw these changes thanks mostly to increased Dance music streaming in the US and U.K. Monthly streams for dance music surpassed 12 Billion streams per month, with streaming service subscriptions growing 65% overall.
Some other metrics from the report include Latin America as the highest grower year over year in terms of music industry revenue, Techno retaining its spot at the top position at Beatport, and Trance climbing 4 spots up on that same chart.
On the DJ circuit, the numbers point to promising numbers for underground artists, as the top-earning DJs are being paid slightly less, while lower ranking DJs are increasing their revenue. Also, artists are finding they can reach their followers better using Instagram rather than Facebook at an astonishing 11x the rate. Read the full report here.
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