Global Electronic Dance Music Market
Global electronic dance music market size was $8230 million in 2021 and is projected to reach $17574 million by 2031, at a CAGR of 7.88%. Europe has generated the most DJs and remains prevalent in electronic dance music. It hosts several major festivals.
Dance Studio Industry Stats
Key dance studio industry stats: Market size grew by 3% yearly from 2015-2020. In 2020 there were about 54,627 studios operating in the U.S. Market size was $3.7 billion in 2021. Growth was 8.4% in 2021. Annualized growth was 0.1% from 2016-2021. Most studios get revenue by offering group dance classes, charging per class or package with styles including jazz, hip-hop, ballet, tap and contemporary.
Dance Industry Growth
The global dance music market grew by 34% in 2022, reaching a value of $11.3 billion. About 35% of girls and 8.4% of boys reported dancing as a regular physical activity. Dancers employed in various industries grew at a rate of 50.4% from 2018 to 2019.
Dance Industry Resilience
The global dance industry was valued at $8.7 billion in 2019. The 2023 IMS report shows the resiliency of the dance music industry after recovering from the pandemic. The industry emerged bigger, stronger and more relevant than before.
Dance Industry Revenue
The global dance music industry revenue grew by 34% in 2022, reaching $11.3 billion. This revenue increase was largely due to live events such as clubs and festivals rebounding and accounting for nearly half of all dance industry revenues at $4.1 billion. Dance companies generate revenue through various means including ticket sales, merchandise, memberships, and subscriptions.
Future Outlook
Overall, the dance industry has demonstrated impressive resilience and growth post-pandemic, with key factors being the strong rebound of live events and increased funding sources enabling innovation and community development. This points to a bright future for the global dance industry.