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Music

EDM is Richer Than 43 Countries (and Other Fun Facts From The IMS Annual Business Report)

It's raining money as EDM takes over the world. Check out some of these crazy stats.

The International Music Summit is currently taking place in Ibiza and its annual business report was just released. Amidst all those big words and scary numbers are some astounding factoids. We knew that dance music was taking on the world, but it's always fascinating to see how fast and how much. Check out some of the highlights.

Dance music is the only growing genre.

Whereas rock (-12%) and pop (-15%) went down in digital track sales in 2013, dance music sales went up by 8%. Country only dropped 2% (but nobody listens to country anyway).

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Avicii's "Wake Me Up" is the most streamed track ever on Spotify.

Avicii's smash hit has clocked over 200 million listens since June 2013, in addition to 600 million on YouTube and 24 million on Soundcloud. It experienced a huge spike in listens on New Year's Eve. Perhaps this explains part of country music's relative good news?

India's dance scene is blowing up.

In 2007, the cumulative capacity for Indian dance festivals was 10k. Now it is 325k and growing. Statistics indicate that this hasn't even scratched the surface of what is to come. Talk about some good karma.

Hardwell is really No. 1.

We all know that the Dutch progressive house superstar topped DJ Mag's Top 100 list, which was based on public vote, but he also topped Just Go and Toppletrack's lists, metrics based on social media. In a single day during Ultra Music Festival, he added 70,000 fans.

The Electronic Music industry is now worth over $6 billion per year.

As an industry, the majority of EDM's income is from music festivals, with music sales and software following. Just to give you some context, $6 billion is equivalent to the GDP of Kyrgystan. Congratulations, fellow ravers, we are now as powerful as a former Soviet Central Asian nation.