EDM Industry Is Worth Over $6 Billion, Report Confirms

Avicii and Guetta earning more that Springsteen and Waters, details inside.

EDM Industry Is Worth Over $6 Billion, Report Confirms
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A new report issued last month at International Music Summit in Ibiza, Spain has valued the newly-established electronic dance music (EDM) industry at a staggering figure of $6.2 billion.

Compiled by Association for Electronic Music (AFEM), the given number takes into account festival revenues ($1.03 billion), Las Vegas club dates ($800 million) and other global club gigs ($2.4 billion), traditional recorded music sales ($800 million) and streaming/video services ($600 million), as well as DJ software and hardware sales ($360 million), DJ earnings from other ventures ($60 million) and value from other platforms like Soundcloud ($140 million).

As Billboard reports, EDM was the only genre to score higher year-to-year gains in 2013, as well as DJs' earnings, with The top 10 DJs on Forbes' 2013 Electronic Cash Kings earning a total of $225 million, nearly double the $114 million earned by the Top 10 back in 2012.

Furthermore, EMD's big 10 has earned nearly $10 million more than last year's global Top 10, meaning that Avicii, Guetta and co. are earning more than the likes of Bruce Springsteen, Roger Waters and Bon Jovi.

Additionally, the $6.2 billion figure was even dubbed a conservative one. "The $6.2 billion may be what's spent on tickets or clubs or drinking, but I view it as the millennial industry in general, and advertising toward that audience. You add that to that $6.2 billion and it’s something much bigger that you're playing for," said Kraig Fox, a senior managing partner at the Guggenheim Partners investment firm.

Discussing the EDM craze, Chris Cornell of Soundgarden has predicted a major rock revolution coming as a direct response, comparing today's state to the peak of disco fever. "All of the sudden then you had punk rock, that came as a reaction to it, where everyone said: 'You know, this sucks.' So maybe that will happen now," the singer told Howard Stern.

25 comments sorted by best / new / date

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    blackone666
    So people still pay for; go to a club, sniff whatever they sniff and listen to cds all night? Woah
    Kueller917
    Atmosphere for the most part. You're not really going to see the guy push buttons on his computer all night. Also loud sound system and lights you don't get at home (drugs enhance both those too which explains their prevelance).
    bangbang!!
    Sooooo how long until this Post-EDM Rock Revolution we keep hearing about?
    dave.coleman.54
    The rock revolution will happen when a band/bands come along that'll make it happen
    dave.coleman.54
    For the record, I give it about 2 or 3 years. EDM took over between 2008-11, it doesn't have long left. Even EDM artists like Avicii have said that in its current commercial form most of it has no real longevity, and songs which are hailed as future classics are forgotten in a few months, so all it takes is a few rock bands who can capture the imagination of the public and away we go!
    ledzep426
    give it a few years, its the next grunge, probably an indie rock kind of thing. Arcade Fire winning the grammy was a good start and Arctic Monkeys getting bigger in America is also helping, just waiting for a few other bands to break through and destroy all else
    Air_Stryker
    "Compiled by Association for Electronic Music" Because they wouldn't be biased and anyway inclined to over estimate their self worth?
    crazyhorse174
    Surely this information is only relevant if you have comparisons to other music types? Show me how much money was spent on rock music as a comparison, and then I'll make a reaction.
    apartzero
    Why should anyone worry about this? Play whatever you love. Something is always going to be more popular that the other.
    Owenlee55
    Haha, hilarious, any real electronic artists and DJs (Mainly coming out of UK and Europe) will be making no where near a million :L This 'EDM' in america is a funny little scene compared to the UK electronic scene, and the UKs scene has been going very strong and still going very strong for 2 decades. America needs to grow up in this sense.
    LeakyFlask
    The two artists mentioned in this article, Avicii and David Guetta, are Swedish and French respectively. EDM is huge in many parts of the world, in its different forms. But I do agree, the underground scenes will keep on going long after the mainstream fads have worn out. That's the way it works with all genres and styles of music, really.
    iommi600
    Avicii is one of the few musicians that have the power to **** me off wherever I am. This ruined my day. That being said, there are good EDM artists out there, especially if you consider how broad the term "EDM" is in the first place.
    Chickendirt
    Who gives a flying ****? I listen to some EDM every now and then. Got a problem with it, have a whinge