IMS Business Report 2022: Electronic Festivals & Clubs valued at $2.5 billion

Presenting their annual IMS Business Report, it has become more than evident that 2022 is shaping up to become a successful year for the dance scene in more areas than none. We offer a wider look at Electronic Festivals and Clubs, and their current evaluation of $2.5 billion.

With the main mission of “creating awareness of and appreciation for electronic music and the artistry related to DJing and all related art forms,” the International Music Summit (IMS) has just presented its annual Business Report for 2022. Covering every aspect of the dance industry based on the analysis of key facts directly relating to everyone involved within our community, in one way or another, the extended analysis of the year that has passed, as well as what currently is ongoing within our scene, have resulted in a wider outlook of the lessons learned from the past, as well as the way in which the industry is shaping up at a real-time. Focusing on different areas that impact the dance scene daily, we will be providing a closer look at Electronic Festivals and Clubs, and their current evaluation of $2.5 billion.

As we are all aware, the global pandemic played a significant role in more areas than none, with the world pausing for the better part of two years, leaving us all second-guessing the outcome of this devastating occurrence. With normality slowly returning, and more and more establishments anticipating pre-pandemic volumes of guests, the 2022 IMS Business Report has indicated an increase of $1.6 billion for festivals and clubs when compared to 2020 and the start of the pandemic, however, as expected, when compared to 2019, the estimated valuation is down by 42% at $1.9 billion. With this said, there is optimism among the analysts when collecting data for the current year, as the number of tickets sold so far in 2022 is at a far greater value when compared to the same timeframe last year, and even more significantly, they are at a very close range of sales prices when comparing the same periods in 2020 and 2021 combined.

Encouraging, to say the least, one of the leading platforms for Ticket Sales, Club Listings, Events, and What’s On Guide, Skiddle when being precise, has also indicated that through their data collection, the demand for events is bigger than ever, thus, estimating that 2022 will be the year that we return to pre-pandemic levels when considering the hype surrounding festivals and club attendance. Moreover, Skiddle has also forecasted that ticket sales in 2022 will be reaching twice the volume of 2019, meaning that the industry is on the right path of achieving similar or even higher numbers to those reached before the start of the pandemic. For any further information relating directly to Electronic Festivals and Clubs, and their current evaluation, as well as a wider look at the 2022 IMS Business Report, be sure to visit the official website here. Don’t forget to leave us your own thoughts on such findings in the comments section.

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