IMS Business Report 2024 25 Apr 2024
Dance Music industry now firmly in its post-pandemic growth phase with 17% revenue growth in 2023 and a total industry valuation reaching $11.8 billion.
Independent labels increased their market share for the fourth consecutive quarter, reaching 31%.
The annual study of the electronic music industry by Mark Mulligan and MIDiA Research for IMS Ibiza 2024
APRIL 24 – 26 2024
MONDRIAN IBIZA & HYDE IBIZA
Carrer de Sa Talaia, Cala Llonga
Download the full business report HERE
Now in its tenth edition, the report is authored by MIDiA Research’s Mark Mulligan for the second year running. MIDiA Research is a leading provider of research, analysis and data for the digital entertainment business, with a team of analysts and consultants focused on everything related to where tech and entertainment meet.
Mark Mulligan (MD & Analyst, MIDiA Research)
This year’s report features a number of exclusive MIDiA datasets including a survey with Association For Electronic Music (AFEM) aiming to be the definitive account of electronic music business and cultural music trends covering every aspect of the industry. AFEM is an independent, not-for-profit, democratically run global trade association created to connect, and represent the common interests of, those companies and individuals whose business is Electronic Music and stands at over 270 member organizations across 29 countries.
With many key financial, economic and cultural findings in this year’s analysis broken down in detail highlighting major emerging themes which can help to guide and inform the industry.
The global dance music business is now firmly in its post-pandemic growth phase with 17% revenue growth in 2023 and a total industry valuation reaching $11.8 billion with notable growth particularly across festivals / clubs, recordings, and publishing.
Festivals and clubs continue to dominate revenues (nearly half of the industry total) while music hardware and software was the next biggest segment (around a quarter of total).
After a slower 2022, the global recorded music market returned to strong growth in 2023 up 10% coupled with a return to growth across most formats including physical, with streaming growing 10% yet still outpaced by licensing and expanded rights.
The report reveals that Non-major labels increased their market share for the fourth consecutive quarter, reaching 31% hinting at a newer generation of independent future-focused labels. Despite a slowdown in catalogue acquisitions due to rising interest rates, music publishing continued to perform well in 2023.
Electronic music fandom and consumption is thriving and growing its share of global culture, far outgrowing other major genres, and with Mexico, India, and Brazil representing the newer wave of global electronic music markets there is no question that South Africa emerged as a leading hotspot for electronic music fans.
While the impressive growth the electronic music industry experienced in the previous year of 2022 was skewed by the live sector enjoying its post-pandemic rebound. There was a risk that 2023 growth would struggle to maintain the pace - instead, 2023 was another strong year of growth.
NEWS & PRESS
Concord Music Publishing signs songwriter-producer Nickname Jos
Today, Concord Music Publishing announced the signing of artist, songwriter, and producer Josef Kuhn, known professionally as Nickname Jos. The universal co-publishing deal, effective immediately, includes Nickname Jos’ full catalog and future works. Nickname Jos is a multitalented performer, songwriter, and producer that has...more
Wear the music, share the joy: Music therapy charity Nordoff and Robbins launches Christmas jumper collection
Available now at nordoff-and-robbins.teemill.com A percentage of every sale goes directly to Nordoff and Robbins Endorsed by Nordoff and Robbins Music Ambassador, Edith Bowman Created in partnership with sustainable print on demand platform Teemill Nordoff and Robbins, the UK’s largest music therapy charity, has today...more
IMPF establishes key targets across tech, data and emerging markets at Global Music Summit
Record 650 delegates attended 2025 event.Dates set for 2026 event. The IMPF established a number of key targets and priorities for the independent music publishing community across tech, data and newer markets at this year’s Global Music Summit Palma. Dates have also...more
Sophie Ellis-Bextor features on episode 4 of ‘The Red Carpet Treatment - On The Road Presented by Mastercard’
The Red Carpet Treatment - On The Road Presented by Mastercard Hosted by Luke Hamnett Sophie Ellis-Bextor features on episode 4, out TODAY available to watch in full on @BRITs YouTube or on @BRITs social channels The BRIT Awards with Mastercard today releases the fourth...more
Mercury rises for Sam Fender
WINNING ALBUM, PEOPLE WATCHING, ENJOYS 159% CHART SALES INCREASE IN THE OFFICIAL ALBUMS CHART MIDWEEK DATA UK record labels association the BPI, which organises the Mercury Prize, today reports an increase in demand for Sam Fender’s album People Watching after last week’s acclaimed triumph in his hometown. The...more
Industry Organisations Sign Groundbreaking Seat at The Table Inclusion Pledge
ATC Live and Ginger Owl Among First to Sign Pledge, with The Royal Albert Hall, AEG and The O2 Becoming Industry Champions New Live Sector-Wide Pledge Aims to Achieve Gender-Balanced Leadership and Measurable Progress by 2030 Following the release in April of the ‘Seat...more
EJAE signs with WME
EJAE, the vocalist and songwriter behind KPop Demon Hunter’s #1 hit, “Golden,” has signed with WME for worldwide representation in all areas of her music career. A breakout star of Netflix’s record-shattering animated musical film KPop Demon Hunters, EJAE is the...more
Blue Raincoat Music/Reservoir strikes publishing deal with Molly Drake Estate
Nick Drake Publishing Agreement Renewed Blue Raincoat Music Publishing, in conjunction with Reservoir, have signed a global publishing deal with the estate of songwriter and poet Molly Drake and have renewed their existing publishing deal with her late son, the seminal...more
hmv goes Dutch with new store in The Hague to open before end of the year
Music and popular culture retailer hmv is planning to open its first store in The Netherlands with a new site in The Hague in the latter stages of development. The new store will open its doors before the end of...more
Building on the momentum of its inaugural landmark edition SXSW London Announces it is Open for Business for 2026
SXSW London builds on the success of its inaugural year with its 2026 programme. Passes for access across the festival are now available to purchase on the SXSW London website. The leading European platform for the convergence of technology and the creative...more
Independent Venue Week announce Nova Twins as 2026 Artist Ambassadors
The UK’s annual celebration of independent venues, music and culture will run over 7 days and nights from Monday 26th January to Sunday 1st February Nova Twins will perform an exclusive live show as part of the week’s activities More than 200...more
Leading Entertainment Execs Launch Unit1 Studio, The World's First Independent Avatar Concert Producer
Headed by Barney Wragg (AEG, EMI, Really Useful Group, Universal) Breakthrough CGI and AI technologies deliver digital humans virtually indistinguishable from the artists themselves Unlocks potential for immersive avatar concerts through lower production costs and improved time-to-market Partnership with KT Tunstall ahead of...more
PPL announces Dr. Richard James Burgess MBE as new Chair
PPL has appointed Dr. Richard James Burgess MBE as its new Chair. He will succeed John Smith OBE, effective 5 January 2026. Burgess will lead the PPL Board as the organisation continues to grow as a global leader in neighbouring rights...more
2AM introduces Lenny, the first AI agent redefining audience engagement in live entertainment
After a successful large-scale deployment at Rock en Seine, the Paris-based startup brings AI-native communication to festivals and venues. 2AM unveils Lenny, the first AI agent purpose-built for audience engagement and live event operations, covering the full audience journey - before,...more
Tickets For Good bolsters international growth with appointment of veteran ticketing executive Henk Schuit as European board advisor
The ADE Conference Startups alumni reveals latest Netherlands expansion news. TfG boasts almost 600k registered healthcare workers, teachers, and charity workers across UK, EU and U.S. It's distributed 1million+ free and discounted tickets from 1,000+ live event partners, including Dua Lipa, Idles,...more
KiTbetter and Duran Duran Deliver First-Ever Dolby Atmos Upgrade to a Physical Album
Groundbreaking upgrade to 2023's 'Danse Macabre: De Luxe' KiTalbum marks a new era for physical-digital music formats KiTbetter, the company reshaping physical music for the digital era, today announced a world first: the upgrade of a previously released physical album to...more
Yoto Launches David Bowie Card: Introducing the Legendary Artist to a New Generation
Yoto's latest addition to its growing popular music offering is filled with the immortal icon's classic songs Yoto, the award-winning audio platform for kids, today announced the launch of a new Yoto card featuring the timeless work of David Bowie. With...more
The Other Songs announce team expansion
Global independent music and entertainment company The Other Songs have announced the exciting expansion of their team as they recruit music industry executives Louis Brown, joining as General Manager, and Raju Watts, joining as Financial Director. Speaking on today’s news, founders...more
Day Fever partners with Ticketmaster’s Universe
Day Fever, the acclaimed daytime clubbing brand, has entered into a multi-year partnership with Ticketmaster’s white-label ticketing platform Universe, making the company its exclusive ticketing partner.Through the partnership, Day Fever will tap into Universe’s all-in-one ticketing and marketing platform, delivering...more
Simon Dunmore Partners with Armada Music to Launch New Label, NBT Records
The imprint will operate from Armada’s brand-new creative hub in London Acclaimed industry figure Simon Dunmore and Armada Music, the world’s biggest independent dance music label, have partnered to launch NBT Records – a brand-new label dedicated to soulful, dancefloor-driven records. Formed...more
Moises and Cory Henry Launch Global Music Competition with $50,000 in Prizes
Jam Sessions Invites Musicians Worldwide to Reimagine GRAMMY Winner's Track Through AI-Powered Tools Moises, Apple's 2024 iPad App of the Year, today launched Jam Sessions, a global music competition connecting artists, producers, and creators through AI-powered music technology. The inaugural edition...more
rightsHUB unveils tool to transform data ingestion process, signs Artist Theory alongside deal renewals with Believe, Defected and others
- New tool, rightsDROP, allows labels and publishers to optimise collection of metadata and resources via single point of entry or releases - rightsHUB now provides a fully end-to-end solution to streamline flow of rights data and assets- Artist Theory (Sam...more
Madi Diaz signs global co-publishing deal with Warner Chappell Music and Crush Music Publishing
Grammy-nominated singer-songwriter’s new album, ‘Fatal Optimist,’ out now First signing to Crush’s newly-launched publishing division Warner Chappell Music (WCM) and Crush Music Publishing (CMP) today announced a global co-publishing deal with acclaimed singer-songwriter Madi Diaz. She is the first signing to Crush’s newly-launched...more
Warner Chappell Music Signs Victor Le Masne
GLOBAL ADMINISTRATION DEAL COVERS ALL WORKS PRODUCED THROUGH LE MASNE'S MULTIMAN RECORDS Warner Chappell Music (WCM) has today announced the signing of Victor Le Masne to a global administration deal. The agreement covers all works produced through Le Masne's Multiman Records...more
Impala's fifth equity, diversity, and inclusion report: Reaffirming commitment to a more inclusive music industry
IMPALA has released its fifth Equity, Diversity, and Inclusion (EDI) Report, providing insights into its ongoing efforts in this area. Published on the anniversary of the organisation's EDI Charter, the report is the result of work by IMPALA's taskforce, which for the...more
DJ brands unite to launch OneLibrary
The DJ world is about to become more open. As part of its ongoing commitment to the sustainable growth of DJ culture and a more open industry environment, AlphaTheta has been actively collaborating with other manufacturers on an exciting...more
Dancefloor launches the Nightlife Dividend Programme to support grassroots venues and promoters
A recent report by The Night Time Industries Association suggests rising costs and ongoing pressures mean the UK is losing three nightclubs every week and will have none left by 2030. To help the fight for survival of independent venues...more
Beatoven.ai Expands Maestro to Generative Sound Effects, Bringing Licensed AI Audio to Film, Games, and Beyond
Fully licensed, fairly trained generative AI cinematic sound effects now available to creatives via Beatoven.ai and its latest API is now available for enterprises via Fal.ai The footsteps, howls, splashes, and zips that make media come alive are the secret to a...more
PRS Foundation congratulates Mercury Music Prize winner Sam Fender
PRS Foundation has proudly supported 7 out of the last 8 Mercury Prize winners through various programmes Sam Fender had support through the PPL Momentum Music Fund to record early singles and International Showcase Fund support to perform at SXSW in...more
FEAT AGM: Confirms promoter-approved resale policy and continued campaign for stronger enforcement of DSA
1000 illegally listed tickets reported across 2025 without a single response from unauthorised resale websites Largest annual conference to date held in Barcelona, with over 20 attendees from eight countries The Face-value European Alliance for Ticketing (FEAT) held its annual general meeting...more
THE HEADLINES
Lyor Cohen: AI won’t replace artists — it will make them unstoppable (see Opinion)
Omdia tips music publishers’ revenues to hit $10bn this year (see Reports)
Unit1 Studio launches offering potential for immersive avatar concerts through lower production costs (see Digital)
Are we still in the music business? When your POV is worth more than your mp3s (see Opinion)
Is rock’n’roll dead? (see Features)
Book extract: Body Of Work: How The Album Outplayed The Algorithm And Survived Playlist Culture (see Comment)
With MTV channels switching off, is the music video under threat? (see Features)
Spotify partnering with multinational music companies to develop ‘responsible’ AI products (see Digital)
Sam Fender wins 2025 Mercury Prize (see News)
Spotify working on ‘SongDNA’ feature that showcases the people behind tracks (see Digital)
How far should cultural boycotts go? (see Features)
How Subvert is building a co-op owned Bandcamp alternative (see Digital)
Lucian Grainge outlines UMG’s strategy for generative AI partnerships and product development (see News)
The future of music streaming: Change or be changed (see Comment)
Sam Altman: the man who stole the rights from copyright. If he’s the future, can we go backwards? (see Features)
Warner Music Group CEO Robert Kyncl discusses the company's “tremendous catalogue” (see Features)
There’s a £1 idea that could save small music venues. Is Live Nation holding it back? (see Features)
Breaking down the arguments around VMG’s Downtown Music acquisition (see Analysis)