IMS Ibiza is taking over the white isle this week with opening parties at clubs and dance music industry folks discussing the state of the business. One of the benchmarks of IMS Ibiza is the 2019 Business Report that takes stock of the dance music industry each year. There are lots of interesting findings throughout the report, including that dance music’s share of the global recorded music industry fell for a second straight year, live revenue is up, but is being steered towards festivals and big shows as nightclubs continue to close at an alarming rate and much more.
The dance music business fell by 1% from $7.3 billion to $7.2 billion. The days of double-digit growth of the early 2010's seem to be over for now as it has evened out. It is important to note that the industry isn’t growing, but isn’t retracting much either, making it pretty clear that the bubble didn’t completely pop, but just flattened.
It’s share of the global market also lowered as recorded music globally was up almost 10%. It is still the third most listened to genre in the world behind pop and rock.
Live is story of the good with the bad. The bad is clubs are closing at an alarming rate, notably in Britain where 21% of clubs closed in 2018 from 2,128 to 1,673. Changing habits of consumers, the move towards talent driven clubbing rather than consistent customers regardless of who is playing and festivals have all contributed to the closures.
There is some good news. Three of the five artists with the most festival gigs in the world were female DJs (info from Festicket): Nina Kraviz, Amelie Lens and Charlotte De Witte. Female artists’ share of festival bookings increased from 14% to 19% over the year. Not the final mark many want, but it is some progress.
The report uses examples from certain brands about how the business is changing and offers more graphs and charts on it all. Read it in full here.