The International Federation of the Phonographic Industry (IFPI) came out with a recent survey and the data shows that electronic dance music (EDM) is the world’s third most popular genre. EDM is listened to by approximately 1.5 billion people around the world. There has been a bit of fluctuation in the numbers around the genre’s popularity throughout the years.
Over the last few years, EDM has been on a steady decline—from sharing 4% of the U.S. recorded music market in 2016, to 3.5% in 2017, to 3% last year. The decline is also noticeable in the U.K., where EDM’s share of the recorded music market fell from 11.5% to 9.5%, as well.
Not only is the music falling on the popular hit charts, but a recent International Music Summit (IMS) business report says that things that were once very popular in the EDM scene, such as house parties, pool parties, and nightclubs, have become much less popular as well. In 2016, 15% of visitors to America’s “EDM Capitol,” Las Vegas, Nevada, said they had been to a nightclub during their stay. In 2018, the figure fell to just 7%, while the amount of visitors attending pool parties fell from 11% to 4%.
While EDM will undoubtedly be relevant for many years to come, it has certainly proven the continued downward global trend that sparked rumors of the “EDM bubble burst” two years ago. As a result, DJs are being paid less. Even the world’s highest paid DJs are seeing a serious decline in earnings, of which there are many possible contributing factors.
According to Billboard, the estimated earnings of the ten highest-paid DJs tumbled to $261 million in 2018, the lowest total since 2013, with Calvin Harris topping the list ($48 million last year), followed by The Chainsmokers ($45.5 million). and Tiësto ($33 million).
Some of those factors are thought to include their online social media presence, online dating, and people becoming more aware of mental health and making strides towards bettering it. In addition, millennials do not make nearly enough money as they need to thrive.
Via: Billboard. Featured photo courtesy of Defqon.1