The IMS Business Report 2025 has been unveiled at IMS Ibiza, the annual summit at the intersection of electronic music, culture, technology and business.
Presented live early today at IMS Ibiza, the report returned for its 11th edition, authored for the third year by MIDiA Research’s Mark Mulligan.
“The report offers the definitive snapshot of the global electronic music economy, examining both its cultural resonance and commercial realities,” stated the report. “With many key financial, economic and cultural findings in this year’s analysis broken down in detail highlighting major emerging themes which can help to guide and inform the industry.”
“Global music industry revenue grew again in 2024, though at a slower rate than in 2023 due to maturing streaming revenues and the post-covid live resurgence lessening,” said MIDiA Research’s Mark Mulligan. “Electronic music however, continued to increase its share of both revenues and culture. Driven by the rise of new genres like Afro House, a renaissance for genres like drum & bass, and the rise of a new generation of fans, creators and scenes remaking electronic music in their own image, electronic music finds itself at the start of a brave new era of culture resonance.”
The global electronic music industry expanded to $12.9 billion in 2024, marking a 6% rise from 2023. While slightly slower than the previous year’s 9% growth, the gains reflect a “maturing and resilient sector”, according to the report.
Festivals and clubs remain the largest revenue source, but strong growth in publishing and hardware/software underline the industry’s strength in multiple areas.
“The IMS Business Report continues to evolve each year, with more robust data and the benefit of over a decade of compilation — allowing us to truly compare and contrast the state of the electronic music industry,” said IMS co-founder Ben Turner. “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 & bass, ongoing catalogue acquisitions, and unprecedented engagement with the genre on cultural platforms such as TikTok.”
For the fifth consecutive year, independent labels increased market share, reaching 30% of global label revenues. While major labels remain dominant, regional and digitally native players in the global south are gaining ground.
Our annual health check this year reflects continued growth and major developments
Ben Turner
Genres including drum & bass, jungle and UK garage are undergoing a creative revival, particularly among younger audiences. Beatport data shows Afro house leapt from 23rd to fourth most searched genre, while SoundCloud saw a 100% increase in UK garage uploads.
With 566 million new electronic music fans added across Spotify, YouTube, TikTok, Instagram and Facebook in 2024, the electronic music genre continues to outperform rivals like rock and indie. The format of fandom is shifting too — SoundCloud saw a 14% rise in plays across electronic genres, particularly in re-emerging micro-scenes such as UK garage.
Mexico, India and Brazil drove subscriber and listener growth on Spotify, with Mexico’s listener base surging 60% year-on-year. Meanwhile, African genres including Afro house and Amapiano made significant strides.
Ibiza remains a key destination for the global dance music community. Ibiza club ticketing revenue reached €150 million, a figure that reflects ticketing only and does not include VIP sales. This represents a 6% increase for the Balearic island despite a dip in event volumes, as ticket prices rose and demand for high-value experiences held strong.
The presence of electronic acts on global festival line-ups hit 18%, up from 13% in 2021. Superstruct’s $1.4 billion acquisition highlighted the commercial power of the sector.
Meanwhile, gender representation is gradually shifting. DJ equipment firm AlphaTheta’s registered female user base grew again in 2024, now at 16%.
The full report is available here.
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