Lily Moayeri The International Dance Music Summit has published its annual business report. This year’s edition focuses on the global impact of the pandemic on electronic dance music in 2020.
The overall earnings from four main sectors of the industry — software and hardware sales, music sales and streaming, DJ and artist earnings, and clubs and festivals — came to a total of $3.4 billion.
That’s less than half of 2019’s $7.3 billion in earnings and lower than that of the industry in 2012.The biggest drops were, as expected, in clubs and festivals whose earnings were down 78% making up the majority of the difference.
DJ and artist earnings were down 68%. In contrast, with all the time stuck at home, music sales and streaming were up by 4%.
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