Max HeyraudIMS Ibiza, the annual thought-leadership summit at the intersection of electronic music, culture, technology, and business, today unveiled its Business Report 2025.
Global music industry revenue grew in 2024, but at a slower pace due to slower streaming growth and a post-COVID live music slowdown. However, electronic music continued to expand in both revenue and cultural influence, driven by new genres like Afro House, the revival of Drum & Bass, and a new wave of fans and creators.
The global electronic music industry reached $12.9 billion in 2024, a 6% increase from 2023. While slower than last year’s 9% growth, this reflects a maturing sector. Festivals and clubs remain the largest revenue sources, with publishing and hardware/software sales also growing.
Independent labels gained market share for the fifth year in a row, now holding 30% of global label revenues. While major labels remain dominant, regional and digitally native players, especially from the Global South, are gaining traction with localised scenes.
Genres like Drum & Bass, Jungle, and UK Garage are making a comeback, particularly among younger audiences. Afro House surged from 23rd to 4th in Beatport’s most-searched genres, and SoundCloud saw a 100% increase in UK Garage uploads.
In 2024, 566 million new fans joined electronic music across major platforms, outpacing rock and indie. The format of fandom is shifting, with SoundCloud seeing a 14% rise in plays, especially in micro-scenes like UK Garage.
Photo Credits: The Boyler
