The IMS Business Report 2022 is finally out and has provided the hard numbers and fact-based statements on trends within the electronic community. While there are a plethora of keynotes from the report, an interesting trend is seeing how DJ software & hardware have a year-over-year increase of 14% leading with a valuation of $1.2bn.
It is speculated that the monstrous uptick in valuation is associated with at-home purchases during most of the COVID-19 shutdowns which consequently led to an even bigger uptick in purchases for both software and hardware with a looming reopening of venues. In previous years, the valuation of products sold always trended slightly upward. For example, in 2019, the valuation sat right around $900 million, and then in 2020, the valuation saw a $133 million addition (or a 12% increase in valuation), thus leading to 2021’s numbers of $1.2bn and a 14% increase.
Image Credit: IMS Business Report
According to the business report, a company has stated, “2021 would have been even stronger if it weren’t for the chip shortage and the global shipping challenges…”, which is also another strong instance to be considered.
While this news is certainly positive for some of our favorite DJ products and software companies, and also may potentially hint at more of an interest in music production on a wider-scale level, there were some less-than-positive factoids that were touched upon within the report, such as only having less than 2,000 electronic musicians making at least $65k per year. Additionally, much of this number is split among collaborators, writers, etc.
You can find the full IMS Business Report here.
Image credit: Olly Curtis/Future Music Magazine
You may also like...
-
Swedish House Mafia ‘Don’t You Worry Child’ named Tomorrowland’s best Swedish electronic dance anthem
by Billie Margot · Published October 9, 2021
-
Alesso brings the heat with a new house banger ‘In My Feelings’ with Deniz Koyu: Listen
by Patrick Kelly · Published June 27, 2022
-
Eric Prydz to perform one night show at Ushuaïa Ibiza in August
by Raja Staudt · Published June 3, 2022
EDMHONEY.COM - NEW EDM MUSIC 24/7
- Next story IMS Business Report 2022: Recorded music industry tops $26 billion in continued growth
- Previous story IMS Business Report 2022: Dance music on the rise again in German and UK markets
Recent Posts
Fire Engulfs Mainstage of Tomorrowland Festival Days Before Opening
Upcoming Film “Waiting for the Drop” Documents The Meteoric Rise Of Dance Music’s Superstar DJ Era
From Tinnitus to Tomorrowland: How Loop Rebuilt the Culture Around Hearing Protection
Steller’s “Here & Now” EP Is a Psychedelic Call Toward Presence
Alison Wonderland Turns Touring Into A Treasure Hunt With GeoGuessr-Powered Pop-Up Raves
We Belong Here is Doubling Down on New York With Two Major Festivals in 2025
ESSE Releases Razor-Sharp House Heater, “Work It”
Just A Gent Embraces Human Evolution With New Track, “Freak Of Nature”