The Booming Growth of Electronic Music Industry

Electronic Music Industry Growth

Electronic music has become a significant sector within the music industry, valued at $6 billion in 2021. This marks a remarkable 71% increase from 2020, a year impacted by the pandemic. Despite not reaching the 2019 levels, the industry is expected to exceed its pre-pandemic heights in 2022, indicating a robust recovery trajectory.

Challenges in Event Accessibility

This growth, however, comes with challenges, particularly in the accessibility of electronic music events. Festivals and concerts, which are central to the electronic music experience, have become increasingly exclusive. Ticket prices across the music industry have risen, making it difficult for many fans to attend live events.

Rising Ticket Prices

The surge in ticket prices has been a contentious issue. High costs are often attributed to algorithms used by ticket-selling platforms. This situation was highlighted when tickets for popular artists, such as Bruce Springsteen, were sold at exorbitant prices, sparking widespread criticism. These high prices are not isolated to a single incident but reflect a broader trend affecting many music genres.

Conclusion

While the electronic music industry is experiencing significant growth and recovery, the rising exclusivity and cost of attending live events pose challenges. Balancing industry growth with accessibility will be crucial for sustaining the engagement and support of the music community.