Electronic music industry is now worth $12.9 billion, with large festivals and tours driving revenueA new report has revealed that electronic music has risen in worth by six per cent, totalling at $12.9 billion in 2024.
The data comes from the newly published IMS Business Report 2025 with assistance from MIDia Research. It shows the majority of revenue was created by festivals and clubs, as well as things like merch and sponsorships.

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Across last year, electronic music continued to steadily become a bigger part of the global festival landscape, with 18 per cent of line-ups of the top 100 festivals being electronic artists in 2024 – up two points from 2023 and five points from 2021. Nine of the top 100 festivals across the globe were electronic music festivals.
The report also says that “the post-Covid recalibration is done”, and that revenue growth for live music normalised in 2024, with revenues more than double what they were pre-Covid. Growth was boosted by pre-sales for 2025 tours, however higher ticket prices were the main driver of growth, rather than the volume of tickets sold.
The higher end of live events did best, like big tours at large venues, while the lower end of the market continued to face venue closures and face a lower willingness and ability to spend by many consumers – these concerns are continually being raised by owners of grassroots music spaces and artists across the UK.
Also in the UK, dance music was subject to the “brat summer” effect – 2023 and 2024 were years of growth for dance music in the UK, with its share of consumption in the albums market increasing in both years. Dance tracks in the year-end UK Top 100 Official Singles Charts were up in 2024 after a fall in 2023.

As for music labels, the majors grew revenue by six per cent in 2024 (with Sony being the fastest growing major last year), but non-majors saw a growth of eight per cent to reach $10.7 billion. Independent labels such as Believe and Concord are carving out market share gains, while many Global South labels are on the up as streaming growth surges in their home markets.
Consumers also show an increase in wanting to participate in music, not just listen. The trend of speeding up or slowing down music is continuing to be hugely popular, and 2024 is also described as “the year that generative AI kicked into gear”. 10 per cent of consumers have used generative AI to make music or lyrics, and there is also a combined total of 60 million users of music AI apps.
To find out more and download the full report, head over to the official IMS website. 
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