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The global electronic music industry experienced a remarkable year in 2024, generating a total of $12.9 billion in revenue, marking a 6% increase from the previous year. This impressive growth was highlighted in the IMS Business Report 2025, published on April 23 at the International Music Summit (IMS) in Ibiza. The report provides comprehensive insights into the industry’s revenues, genre trends, audience behaviors, and the artists who are shaping the electronic music landscape.
Key Findings and Trends
Revenue Growth
The report indicates that the revenue growth was driven by several factors, including the rise in streaming services, the popularity of electronic music festivals, and the increasing number of electronic music fans across various social media platforms. Notably, independent labels saw significant gains, with their revenue growing by 8% to reach $10.7 billion. Major labels also experienced growth, with Sony leading the pack as the fastest-growing major in 2024.
Audience Expansion
Regions like Brazil and India witnessed substantial increases in their electronic music fan base. In 2024 alone, there were approximately 566 million new electronic music fans added across Spotify, YouTube, TikTok, Instagram, and Facebook. TikTok, in particular, played a crucial role in this expansion, with posts featuring electronic music outgrowing those with indie music and increasing by 45% to 13 billion views.
The Impact of Generative AI
2024 also marked a significant year for AI-assisted music making. The report notes that 10% of consumers used generative AI to create music or lyrics, totaling 60 million users of music AI applications. This trend highlights the growing influence of technology in the creative processes within the electronic music industry.
The Role of Festivals and Events
Electronic music festivals continued to be a major contributor to the industry’s revenue. These events not only provide a platform for artists to showcase their talents but also attract millions of attendees from around the world, contributing significantly to local economies and the overall growth of the electronic music sector.
Artist Highlights
The report also sheds light on the artists who have made a significant impact in the industry over the past year. Emerging artists and established names alike have pushed the boundaries of electronic music, experimenting with new sounds and technologies, and captivating audiences globally.
Future Outlook
Looking ahead, the electronic music industry is poised for continued growth. With advancements in technology, the increasing popularity of streaming services, and the ongoing expansion of the global fan base, the industry is expected to reach new heights in the coming years.
