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North American EDM business worth $1.9 billion
By Chris Cooke | Published on Monday 20 April 2015
The EDM business in North America is worth about $1.9 billion according to research presented at IMS Engage in LA last week. That figure includes recorded music sales and streams, DJ technology sales, and festival and club income. Perhaps unsurprisingly, the latter revenue stream accounted for the vast majority of the EDM sector’s American loot last year.
The stat was presented by Kevin Watson of Danceonomics, a “knowledge hub of the electronic music industry”, who reckons that North America now accounts for about 30% of the wider EDM industry, which he values at $6.2 billion. Watson’s study took in stats and insights from numerous reports on dance music and the wider music industry.
Hoping to demonstrate that the relatively recent rise of dance music Stateside doesn’t seem to be a temporary phenomenon, Watson said that his research showed that dance track sales accounted for 4.6% of overall track sales in North America last year, an all time high, while EDM was now the fourth most popular genre on streaming platforms, accounting for 7% of streams in the US and 10% in Canada.
You can download the report in return for an email address at www.danceonomics.com.