Published
Thu, Apr 27, 2023, 12:00
- The latest IMS Business Report was published yesterday, to coincide with the launch of this year's conference.
The latest IMS Business Report report has found that just one in five "dance music creators" earn a living from their craft.
Published yesterday, April 26th, data from the annual report suggests that 45 percent of respondents make no income from dance music at all, but 41 percent expect to make a living from it in future.
The study also assessed the biggest challenge dance music creators face when trying to carve out a career. "Cutting through the noise" scored highest, followed closely by a lack of time and a lack of financial resources. Additionally, 67 percent of women say the pressure to look good impacts their career, compared to just 14 percent of men.
From a financial perspective, the report suggests the global dance music industry is in rude health. After growth of 34 percent last year, the industry is now valued at $11.3 billion—a figure 16 percent higher than pre-pandemic times. Despite this growth, the proportion of women DJs getting hired for festivals and other events fell from 21 percent to 15 percent.
The publishing of the report coincided with the launch of this year's summit. Returning to Destino Ibiza, IMS 2023 will feature discussion with SHERELLE, Elijah and Fat Tony among others.
Download the full report.