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According to the newly released IMS Business Report, the global electronic music industry hit a value of $11.8 billion in 2023 – a sharp 17% increase year-over-year that signals more than just post-pandemic rebound. Presented at IMS Ibiza and authored by MIDiA Research’s Mark Mulligan, the report highlights a genre not only expanding economically, but also embedding itself deeper into the cultural fabric of global youth.
Genres like Afro House, Amapiano, and UK Garage are exploding with new audiences, especially among Gen Z. Platforms like TikTok and SoundCloud are more than just promotional tools—they’re taste-making engines. On TikTok alone, electronic-related hashtags crossed 10.5 billion views last year, reflecting a culture that’s rapidly diversifying and decentralizing.
Independent labels are keeping pace. Now representing nearly 30% of global label revenue, they continue to prove that DIY and underground communities are still pushing the genre forward. But the success comes with asterisks. A shift in royalty models, designed to reward high-streaming tracks, has left many independent and mid-tier artists earning far less, undermining the very ecosystem that fuels electronic music’s experimentation and agility.
Meanwhile, the live scene is back and booming—but not without its own caveats. Revenue is up, but much of that growth is coming from ticket price hikes, not necessarily from more fans through the gates. The question looms: how far can prices stretch before they stretch fans too thin?
The IMS report paints a picture of an industry that’s thriving in audience and cultural capital, but fraying at the edges of fairness. If electronic music wants to maintain this momentum, it will need more than viral tracks and big festival paydays. It will need to recalibrate how it values the very artists and innovators keeping the scene alive.
