DANCE MUSIC PINNING HOPES ON “ROARING 20S” TO RECOVER FROM PANDEMIC LOSSES

Dance music’s industry value was reduced by 54% in 2020.

The COVID-19 pandemic has had an expectedly dramatic impact on the global dance music industry with losses of 54% down to $3.5bn in 2020 – the lowest valuation for a decade following consistent growth since 2012.

Findings released by the International Music Summit (IMS)’s business report paint a picture of mixed fortunes during 2020 – while the industry as a whole lost value, the DJ software and hardware sector saw a 23% increase.

The valuation of recorded music saw a boost of 7% – however electronic music’s share of that sector decreased by 11%.

Though dance music recorded revenues broke $1bn for the first time – the popularity of dance music as observed by streaming services such as Spotify saw a decline in those genres.

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