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Beats for Billions

from The New York Times

An Unprecedented Success for Electronic Dance Music and Its D.J.s

Laurent Cilluffo

Late last month, Forbes published its list of the world’s top-earning D.J.s. Calvin Harris, 31, who less than a decade ago was stocking groceries in a Scottish supermarket, came in first place, earning $66 million over a 12-month period beginning in June last year through club fees, endorsement deals and music royalties. That’s more than what Jay Z ($56 million) or Kim Kardashian ($52.5 million) grossed in the same period, and it’s one of many recent indications that EDM, or electronic dance music — once the commercially marginal soundtrack to underground parties — has reached an impressive new level of mainstream success.

Kevin Watson, an analyst in London for the International Music Summit (an electronic music industry trade event held yearly on the Spanish island of Ibiza) now estimates the global value of EDM to be $6.9 billion — about a 50 percent jump since 2013. “Here in the U.K., we’ve had peaks of interest before but we have seen nothing like the global cultural exposure and move into the mainstream as we have in the last two years,” he said. “It’s been absolutely phenomenal.”

[ click to continue reading at NYTimes.com ]

Posted on September 9, 2015 by Editor

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