The global electronic music industry reached a valuation of $12.9 billion in 2024, growing 6% from the previous year, according to the latest IMS Business Report.
Launched during the International Music Summit in Ibiza on April 23rd, the annual report offers a detailed snapshot of trends shaping electronic music, from genre performance to listener habits across major digital platforms.
While overall growth was steady, the sector’s expansion was led by shifts in listener behaviour, regional engagement, and evolving preferences across streaming services and social media.
Streaming trends and genre shake-ups
Streaming and recorded music continued their gradual climb, although at a slower pace compared to other entertainment sectors. House and tech-house maintained their dominance on platforms like Beatport, but 2024 also saw a surge in less mainstream sub-genres.
Drum ‘n’ bass, for instance, climbed from sixth to third place in Beatport’s genre rankings, reflecting a surge in fan interest. Even more impressively, Afro House jumped an astonishing 19 spots — from 23rd to fourth — signalling the genre’s growing influence in clubs and on playlists around the globe.
TikTok and social media fuel genre discovery
Electronic music’s visibility on social platforms exploded over the past year, with TikTok playing a particularly pivotal role. Posts tagged with electronic music rose by 45%, and videos featuring Speed Garage witnessed a staggering 183% boost in views — making it one of the fastest-growing genres on the platform.
Meanwhile, house and trance continued to dominate on TikTok, reinforcing their mainstream appeal and cross-generational fanbase. Across platforms including Instagram, Facebook, Spotify, YouTube, and TikTok, electronic music attracted an estimated 566 million new fans throughout 2024.
Global growth: Mexico emerges as a rising market
Geographically, traditional powerhouses like Germany, the UK, Australia, and the US maintained their stronghold as the top electronic music-consuming nations.
However, Mexico emerged as a significant growth market, with a 60% year-on-year increase in Spotify listeners engaging with electronic music content — suggesting new opportunities for artists, labels, and event organizers targeting Latin American audiences.
Festival presence continues to climb
The genre’s influence within the global festival circuit also rose, with electronic artists making up 18% of line-ups across the world’s top 100 festivals — a modest but meaningful jump from 16% the year prior.
You can download the full IMS Business Report 2025 here for all the insights.
