EDM’S $7.4B BEAT

The value of the global electronic music industry was up 3% year-on-year to $7.4b in 2016 as the share of total audio consumption for the dance/electronic genre rose to 4% (from 3.4% in 2015) in the U.S. Fifty seven percent of total “sales” came from streaming—the highest of any genre stateside. Stats are courtesy of the IMS Business Report 2017.

Dance and electronic music leapt ahead of Latin to become the fifth most popular genre overall last year (behind rock, R&B, hip-hop, pop and country) and joint fourth in the on-demand audio streaming world with a 6% share. Dance’s share of total single sales were 5% in the U.S. in 2016 and are back to where they were in 2007 in the U.K. at 17%.

Instagram is now the social media platform of choice for DJs with names such as Martin Garrix and The Chainsmokers growing their audiences 11x faster than on Facebook. Electronic music festivals still have something to answer for when it comes to gender diversity in line-ups—a Thump study of 24 festivals last year found that, on average, just 17% of artists were women. Check out the full report here.