2025 IMS Business Report valued electronic music industry at $12.9 billion

The global electronic music industry expanded to $12.9 billion in 2024, marking a six percent rise from 2023.

Last month, the 11th edition of the International Music Summit Business Report – an annual study of the cultural resonance and commercial realities of the electronic industry – published its key findings for the year.

While slower than the previous year’s nine percent growth, the global electronic music industry grew six percent year-on-year in 2024.

The report also stated that, for the fifth consecutive year, independent labels increased market share, reaching 30 percent of global label revenues.

It found that genres including drum ‘n’ bass, jungle and UK garage are growing in popularity, particularly among younger audiences. In 2024, SoundCloud saw a 14 percent rise in plays across electronic genres and a 100 percent increase in UK garage uploads.

The report, authored for for the third year by MIDiA Research’s Mark Mulligan, was presented at IMS Ibiza – an annual summit at the intersection of music, business, culture and tech. MIDiA Research provides comprehensive research, market data and analysis for the digital entertainment business.

“Our annual health check this year reflects continued growth and major developments: the Superstruct acquisition reshaping live, rising momentum in key genres like Afro house and drum ‘n’ bass, ongoing catalogue acquisitions, and unprecedented engagement with the genre on cultural platforms such as TikTok,” said IMS Co-Founder Ben Turner.

Download the full report here.