Photo: WENN.com
It's a fact - the big money in music is in dance music. The shocking value of the EDM industry has been revealed - and it is huge.
With stars such as Calvin Harris, Avicii, Tiesto, deadmau5 and Steve Aoki commanding huge fees for festival appearances and selling out massive stadium venues the world over, it's no surprise that there is money in EDM.
According to a new report from the International Music Summit, shared by Billboard, the industry is worth a staggering $6.2billion.
The report states that $1.03billion is made from festivals (such as the recent Electric Daisy Carnival in Las Vegas), $2.4billion is made from club appearances, $600million from streaming services and video views, $140million from Soundcloud streams alone - and the sales of branded software and hardware brings in $360million.
Below: the richest DJs in the world
