Skip to main content

Mobile Ads

International dance music industry witnesses 54 percent decline in value in 2020 due to COVID-19 pandemic

Due to the coronavirus pandemic that hit the world in 2020, there has been a drastic impact on the International Dance Music industry. As per the recent International Dance Music Summit report, for business, culture, and education in global electronic music; there has been a decrease in the value by 54 percent resulting decline to $3.4 billion.

This big decline in business has occurred after almost ten years of steady growth. As per Variety, the overall earnings are from four main sectors of the industry including music sales and streaming,  software and hardware sales, Disc Jockey (DJ), and artist earnings along with clubs and festivals.

Also, this year’s annual report emphasises the global impact of the pandemic on electronic dance music in 2020. According to the report, the business produced less than half of 2019’s $7.3 billion in earnings and lower than that of the industry in 2012.

Due to lockdowns across the world, the biggest drop was expected in clubs and festivals where the earnings had fallen by 78 percent. While DJ and artist earnings also down by 68 percent last year. As people stayed at home, the music sales and streaming had grossed up by 4 percent or $48 million. Meanwhile, software and hardware sales were also up by 23 percent for a record high of $203 million.

For their fundraising efforts, there were also live streams from the electronic dance music industry, which was hosted by French DJ, record producer, and songwriter David Guetta that benefitted a variety of pandemic-related causes, including World Health Organization’s COVID-19 response fund and UNICEF.

Further in the detailed report, the electronic dance music’s Spotify also shared a decline in 16 of the 18 countries as fans spent more than $52 million on Bandcamp. It is an internet music company by Oddpost co-founder Ethan Diamond and programmers Shawn Grunberger, Joe Holt, and Neal Tucker in California.

The report also highlighted new ways and methods of monetisation that has emerged during the pandemic like getting involved in the metaverse.


by FP Trending
Labels:

Comments

Post a Comment

Popular posts from this blog

Udaan to AK vs AK, Vikramaditya Motwane’s decade-long genre-hopping filmography is commendable

Director Vikramaditya Motwane’s earliest memory of being on a set is from the 80s when his mother Dipa De Motwane worked as a production manager. It was an ad for Nycil that was being directed by the legendary Shukla Das. “My sister and I had gone and I remember there was a stage where some kids were doing a play and there was a paper dragon,” the 44-year-old had shared in a previous interview to me. But it was much later when he turned 17 that Motwane began to enjoy being on a set. “I used to be very bored initially. Then my mother roped in my friends and I to help on a television chat show called Teen Talk. That’s when I realised that it was the best thing ever.” Since those heady days of being a production assistant, Motwane has gone on to explore many genres as a director. His debut film Udaan (2010) was the first Indian film in seven years to be an official selection at Cannes. The coming-of-age film, starring Rajat Barmecha and Ronit Roy, is a deeply affecting story of a mother...
Post a Comment
Read more

Dreams, desires and aspirations: Udan Patolas cast on why the show is a must-watch

The Bold Type , Four More Shots and now Udan Patolas , stories reflecting sisterhood and female bonding seems like the flavour of the season. Udan Patolas , the Indian adaptation of the Israeli TV show Honey Badgers, depicts the voice of today’s generation of Indian women who are fiercely independent and are not afraid to speak their minds. Produced by Applause Entertainment – the makers of the successful series ‘Scam 1992’ in association with Sol Productions and directed by Shakti Sagar Chopra, from the Hatim and Ramayan fame, the web series features actors Apoorva Arora, Aastha Sidana, Poppy Jabbal, and Sukhmani Sadana in the lead roles. It also features Rajveer Singh, Mayank Arora, Taniya Kalrra, Vaibhav Talwar, Rakesh Bedi, and Manik Singh in prominent roles. In an interview with Firstpost during the press meeting in Delhi, Aastha, Poppy, and Sukhmani (who is also the writer of the show) spoke about how the series will remind every girl about their close group of friends. They a...
Post a Comment
Read more

Nayanthara, Vignesh Shivan to marry on 9 June; here's all you need to know

Filmmaker Vignesh Shivan and Nayanthara are all set to get married tomorrow, 9 June. Shivan made an announcement about the same on Tuesday, 7 June in an interaction with the media. Talking about their wedding venue, Shivan informed that the wedding will take place at a private resort in Mahabalipuram . Shivan also spoke about the change in the wedding venue from Tirupati to Mahabalipuram. The filmmaker said that the couple wanted to get married in a temple but due to issues in logistics, it was difficult to bring their families to Tirupati. So, they decided to change the wedding venue to Mahabalipuram. He added that the wedding will be attended by close friends and family members. The rumours regarding their wedding began after the duo was clicked with Tamil Nadu Chief Minister MK Stalin and reports claimed that the couple had gone to invite the Chief Minister for their special day. Nayanthara and Vignesh Shivan had met each other in 2015 for the first time during the nar...
Post a Comment
Read more