Global Dance Music Industry Grew 34% in 2022, Per IMS Business Report
variety.comRachel Narozniak Following the financial fallout from the COVID-19 pandemic and its pause on in-person programming, the dance music industry is back and better than ever.
Data from the 2023 IMS Business Report demonstrates the resiliency of the global dance music industry, which grew by 34% in 2022 to reach a valuation of $11.3 billion — a 16% increase from the pre-pandemic period.
In 2019, the global dance industry was valued at $8.7 billion. “This is not just about bouncing back; this is bouncing back and almost bouncing off the trampoline,” said Mark Mulligan, managing director and analyst at MIDiA Research.
In addition to authoring the report, Mulligan presented its key findings at IMS Ibiza on April 26. Pent-up demand for live events — a direct result of quarantine — prompted clubs and festivals to emerge as the primary revenue driver.
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