DJ and Electronic Music Industry Statistics and Facts (2023)
DJ and Electronic Music is a huge industry and known worldwide. The DJ and Electronic Music industry, like many other sectors, have been widely affected by the pandemic, here are some statistics and facts to give you some context.
The DJ and Electronic Music industry has been through a lot lately, with the pandemic and the adjustments it necessitated. Let’s have a look at some of the facts from before and during the pandemic, additionally, what the future holds for the industry.
What happened to the industry when the pandemic hit?
It comes as no surprise that when the pandemic hit, the entire industry was taken back a few steps, the question is, how many steps?
This is truly a devastating percentage. These kinds of numbers were shocking, considering that the last time this was even an issue was almost 10 years prior.
the industry was now at its lowest value since 2012, having had $3.9bn wiped off its value by the pandemic.International Music Summit
The reason behind this huge setback was the fact that many festivals and clubs which primarily have this kind of music, were unable to host events due to the pandemic.
The most obviously affected sectors were festivals and clubs, with more than 200 festivals and countless events cancelled, resulting in a drop in value of 78%.International Music Summit
artists fees and income were also dramatically hit, dropping by 68% from $1.3bn in 2019 to $300m in 2020.International Music Summit
Sale numbers up until and during the pandemic
Drastic changes can be spotted in the years leading up to the pandemic but also it was just a natural fluctuation over the years, still, the pandemic didn’t help.
Even in the years leading up to 2020, without the pandemic, the sad truth was the following.
The number of DJ mixers sold in the United States experienced a generally decreasing trend from 2005 to 2020.Statista
Not taking the whole picture in full view, maybe just the sales of DJ mixers, the following is a lower number in sales no matter how you look at it.
In 2020, the wholesale value of DJ mixers was approximately 30.22 million U.S. dollars.Statista
Estimated predictions for the future
According to the compound annual growth rate (CAGR), we’ll have a more clear look at what the future holds for the industry.
The global market is expected to rise but in a slow manner, with many noteworthy markets. Let’s take a look at some of them, starting with the Asia-Pacific region.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$144.5 Million by the year 2027, while Latin America will expand at a 2.4% CAGR through the analysis period.Research and Markets
Taking a stroll through Europe, the best example to take into consideration is probably Germany from a music standpoint.
Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.Research and Markets
Overall, changes are looking up even after the estimated growth up until 2027.
The global DJ Devices market size will reach USD 820.1 million in 2028, growing at a CAGR of 6.7% over the analysis period.Intelligence Market Report
The rise of online music and streaming platforms (Due to lockdowns)
With the coming changes, it was inevitable that the online aspect of it all will have an outstanding rise during this time.
“Twitch alone registering 1.2m new followers for the top electronic music accounts”.International Music Summit
Not only did live streaming get a boost but it also impacted other aspects of music like the sales of DJ controllers.
DJ controller manufacturers and software developers also benefited from the growth of livestreaming, “with an estimated 23% increase year on year to $1.1 billion”.International Music Summit
The DJ and Electronic Music industry has been through a lot lately with the pandemic and the changes it brought about. The industry is expected to grow in the future, but there are still some areas that need improvement.
Sales of DJ mixers have been decreasing for many years, and this trend is not expected to change anytime soon. Additionally, although live streaming has seen a boost, it has not had a significant impact on the overall industry.
DJ and Electronic Music manufacturers must continue to find new and innovative ways to reach their consumers to ensure future growth. Nevertheless, perseverance is key!