Ibiza hosts one more year the annual summit of electronic music, IMS Ibiza, in which the main players of the sector discuss the economic and social expansion of this industry. The summit, which takes place during three days at the Mondrian and Hayde hotels in Cala Llonga and culminating this Friday with the traditional party at the Baluarte de Santa Llúcia in Dalt Vila, kicked off today with the presentation of the IMS Business Report 2025, prepared by Mark Mulligan of MIDIA Research, which has been gathering the most relevant data from the sector for eleven seasons.
“The report offers the definitive snapshot of the global electronic music economyexamining both its cultural resonance and its commercial realities. This year’s analysis breaks down in detail many of the key financial, economic and cultural findings, and highlights key emerging themes that can help guide and inform the industry,” IMS Ibiza notes.
This year’s report includes a very relevant fact about Ibiza, which, they say, “demonstrates that it remains the global heart of electronic music and the unparalleled cultural touchstone for the global dance music community.” According to the report, ibiza’s nightclub ticket revenues reached 150 million euros last yeara figure that reflects only ticket sales and does not include VIP sales, so, they claim the total value was even higher. “This represents a 6% increase for the island despite a drop in the volume of events, as ticket prices rose and demand remained strong,” the report highlights.
“Once again, Ibiza’s club revenues increased again in 2024. With the pandemic now firmly in the past, Ibiza confirms its position as Europe’s leading electronic music vacation destination. Although there was a small decline in tickets sold – something to watch out for in 2025 – the fact that Ibizan club-goers spent more on tickets than in previous years illustrates how strong demand remains,” Mulligan said.
Overall “global music industry revenues returned to growth in 2024, albeit at a slower pace than in 2023 due to the maturation of streaming revenues and the decline of live following covid. Electronic music, however, continued to grow its share in both revenue and streaming. Driven by the rise of new genres such as Afro House, the revival of genres such as Drum & Bass and the rise of a new generation of fans, creators and scenes. Electronic music is at the dawn of a brave new era of cultural resonance,” Mark Mulligan noted at the presentation.
2024 figures
The global electronic music industry, the document indicates, grew to $12.9 billion in 2024, up 6% from 2023. Although slightly lower than the previous year’s 9% growth, “the gains reflect a mature and resilient sector. Festivals and clubs remain the largest source of revenue, but strong growth in publishing and hardware/software underscore the multifaceted strength of the industry,” the report said.
The document highlights some aspects such as the increasing market share of independent labels, up to 30% of global revenues; the revival of genres such as drum & bass, jungle and UK garage, especially among younger audiences; or the growth of fans on digital platforms and social networks, with 566 million new electronic music fans on Spotify, YouTube, TikTok, Instagram and Facebook in 2024, thus “continuing to outperform rivals such as rock and indie,” it concludes.
It also notes the growth in emnergent countries such as Mexico, India and Brazil on Spotify, with a year-on-year increase of 60% in Mexico, or the “breakthrough” of African genres such as Afro house and Amapiano, “reflecting a truly global, decentralized and diverse electronic culture,” adds the IMS Business Report. It also highlights the increase in the female user base at AlphaTheta in 2024, to 16% and the growth in the use of music AI with 60 million users of music creation apps and 10% of consumers reporting using generative AI to create music or lyrics. “As a result, the line between amateur and creator is becoming increasingly fluid as AI and audio tools continue to democratize music creation,” the report adds.
“The IMS Business Report continues to evolve each year, with more robust data and the benefit of more than a decade of compilation, allowing us to truly compare and contrast the state of the electronic music industry. Our annual health check this year reflects the continued growth,” said Ben Turner, co-founder of IMS, at the presentation.
International Music Summit (IMS) was created in 2007 by influential industry professionals including Ben Turner, Danny Whittle, Pete Tong and Simeon Friend. IMS’ flagship annual event, IMS Ibiza, brings together electronic music professionals from around the world for the three-day summit, the presentation of the IMS Business Report, and the closing celebration of IMS Dalt Vila.
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