Dance music has seen strong comeback following its viral outbreak and slow live growth. A robust creator tools industry is helping the industry recover, while growing audiences on platforms such as TikTok are driving long-term expansion.
This dance music report offers a deep analysis of its global market. It examines key trends within this genre as it continues to influence wider music culture.
Global Dance Market
The dancewear market is an intensely competitive one, with both established and emerging players jostling for market share. To stay ahead, companies focus on product innovation and quality to build brand recognition; additionally they partner with dance studios, instructors, and professional dancers to promote their products and increase visibility. In order to remain relevant in an increasingly sophisticated marketplace, dancewear manufacturers need to incorporate technological advancements such as virtual fitting tools and enhanced e-commerce platforms in their strategy to stay ahead.
The 2024 Dance Company Market Size & Growth Report offers a comprehensive view of the global dance company market, providing historical market size as well as forecasts up until 2028. In addition, this report details trends and developments within regional markets as well as competitive landscape profiles of top companies within this industry.
Dance music has always been defined by performance – in particular DJs. Because of this, it was hit particularly hard by the COVID-19 pandemic which forced many clubs and festivals to postpone events due to fear of infection; these losses led to 2020-2021 being marked as fallow years for the dance music industry; but in 2022 its fortunes turned around dramatically with revenues from clubs, festivals and live events rising by 34% to $11.3 billion while ticket sales, licensing agreements and merchandise revenue streams also saw substantial growth.
Streaming and download revenues also rose by 12% to reach $2.8 billion, accounting for the second-highest source of industry revenues. Music rights including recording and publishing increased by 13% to reach $1.9 billion while production music hardware (djing decks, recording software, skill sharing platforms) saw slower revenue gains but still managed 7% growth and reached $2.8 billion.
This impressive growth demonstrates the incredible resiliency of the dance industry. As it grows and expands, its importance to UK entertainment becomes ever clearer; yet dance is more than simply entertainment: it fosters passion, creativity and human connection that shouldn’t ever be taken for granted.
EDM Market
The Electronic Dance Music (EDM) industry is experiencing remarkable growth. By 2031, its global market is projected to reach USD 8.42 billion, growing at an impressive compound annual growth rate of 8%. This impressive projection can be attributed to consumer demand for new and exciting music as well as increased disposable income among consumers and digital economy expansion. With so much potential ahead for EDM businesses investing in innovative technologies that improve music production and performance; its future looks bright.
The EDM market report presents a detailed examination of its size, share, competitive landscape and growth factors as well as key challenges faced by businesses operating within this sector. A must-read for all participants of dance music industries ranging from musicians to investors alike!
This report offers a thorough assessment of the EDM market, along with an in-depth examination of its key players – market leaders, emerging ones and established ones alike – including current and future strategies of prominent EDM market players like market leaders COVID-19 pandemic pandemic pandemic conflicts regional conflicts as well as drivers and restraints such as climate change impacts on their respective strategies.
Technological advances have had an invaluable effect on the EDM industry, enabling artists to produce more high-quality music and deliver immersive experiences for audiences. Furthermore, social media and online platforms have proven invaluable when promoting events and festivals dedicated to EDM music; with rising disposable incomes leading more people than ever to attend concerts and other live music performances.
Though EDM market trends remain positive, EDM industry faces several obstacles. These include declining revenues from traditional sales and royalties, competition from alternative music genres, and blockchain technology’s rise. To combat these difficulties, the industry has responded with innovative distribution channels and new technologies; increasing fan engagement via personalized experiences from artists; as the industry evolves further it’s essential for all artists and stakeholders involved to stay abreast of its latest innovations.
EDM DJs
DJs play an essential role in the dance music industry. As intermediaries between musicians and their audiences, they serve as conduits between themselves and those eager to hear their music. DJs not only construct playlists for musicians to share their tunes with fans; they are also accountable for promoting themselves as artists as well as building relationships with fans – this has lead to an unprecedented culture of hyperproductivity within dance music artists themselves, leading to many newcomers rising quickly through the ranks.
Diplo, Avicii and Skrillex are three of the most notable dance music artists today; each boasting vast social media followings as well as attending international music festivals with ease.
EDM DJs must find and promote the ideal songs for their playlists in addition to promoting their own tracks, so their job requires extensive knowledge of musical genres and the ability to transition seamlessly between tracks – this enables them to showcase their mixing skills – an integral component of EDM music.
Genre classification of tracks can be determined using their BPM and key, which are both vital elements in creating playlists. With this data in hand, we created a network of DJs from different music genres who we determined their social standing by taking both their social rank and hybrid rank logarithm.
This analysis shows that DJs with higher social status tend to act as intermediaries between various genres and show greater appreciation of them. With the increasing diversity in dance music, it has become even more imperative that DJs possess an extensive repertoire of musical styles.
Pasquale Rotella has been at the heart of EDM’s meteoric rise, spearheading Insomniac Events which includes festivals (Electric Daisy Carnival, Electric Forest, Nocturnal Wonderland Bassrush etc), nightclubs and various multimedia events – including festivals like Electric Daisy Carnival, Electric Forest Nocturnal Wonderland Bassrush. His massive social media following and Hollywood connections make him the go-to guy for big ticket shows.
Craig Kallman founded Big Beat Records in 1987 before selling it to Atlantic four years ago; since then he has used Big Beat as an imprint for both hip-hop and EDM divisions of Atlantic’s business. Skrillex and Axwell Ingrosso both come through his labels; in 2023 they will perform together at Colorado’s Red Rocks amphitheatre!
EDM Social Media
EDM music has quickly become one of the most beloved genres worldwide. This surge in demand for dance music merchandise and events has necessitated industry members to remain up-to-date with current trends and maintain an effective social media presence, to make sure that they don’t miss any opportunities or potential new fans.
Social media is a potent marketing tool for EDM shows, according to a recent survey conducted by Eventbrite. More than 70% of attendees heard about them through social media; and 58% saw friends post about the event on their accounts – much higher figures than other genres! Furthermore, EDM fans were much more likely than average music genre listeners to use smartphones at shows – this survey discovered 71 percent used smartphones at shows for recording video/photo capture while more than 50% purchased tickets via smartphones alone!
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