Electronic Music Industry Set to Double in Value, Reaching $39 Billion AUD by 2032
The electronic music industry is on track for unprecedented growth, with its global value projected to double from AUD 18.8 billion (USD 12.02 billion) in 2024 to AUD 39 billion (USD 24.5 billion) by 2032. According to a new report from Wise Guy Reports, the surge is driven by the continued rise of streaming platforms, the global expansion of electronic music festivals, and advancements in technology that are revolutionising music. House music dominates the market among electronic subgenres. Breakdown: House Leads the Charge
House music dominates the market among electronic subgenres, currently valued at AUD 5.6 billion (USD 3.5 billion). Other leading genres include:
• Techno – AUD 3.8 billion (USD 2.5 billion)
• Trance – AUD 3.5 billion (USD 2.3 billion)
• Drum ‘n’ Bass – AUD 3.5 billion (USD 2.3 billion)
• Dubstep – AUD 2.1 billion (USD 1.4 billion)
With electronic music permeating new platforms beyond traditional streaming—such as video games, virtual reality, and AI-driven music tools—these numbers are expected to rise significantly over the next decade.
Regional Growth: North America & Europe Set to Dominate
The report highlights North America as the biggest market for electronic music, currently valued at AUD 5.3 billion (USD 3.5 billion). By 2032, it is projected to more than double AUD 10.9 billion (USD 7.15 billion).
Europe, following closely, is expected to see its market value rise from AUD 4.6 billion (USD 3 billion) in 2024 to AUD 9.3 billion (USD 6.1 billion) by 2032. These two regions remain the driving forces behind the global scene, powered by some of the world’s biggest electronic music festivals, record labels, and club cultures.
Other key regions, including Asia-Pacific and South America, are also witnessing increased engagement, driven by expanding festival circuits, government investment in nightlife economies, and rising electronic music consumption via digital platforms.
Key Drivers Behind the Growth
The Rise of Streaming & Digital Platforms - Electronic music has thrived in the digital era, with platforms like Spotify, Apple Music, SoundCloud, and YouTube pushing the genre to new audiences. Unlike other music genres that rely heavily on radio airplay, electronic artists have capitalised on playlist culture, algorithmic discovery, and direct-to-fan marketing through digital channels.
Streaming’s influence also reshapes artists’ careers, allowing independent producers to gain global traction without primary label backing. The accessibility of streaming platforms means electronic music is no longer limited to club culture but is now part of mainstream music consumption.
The Explosion of Electronic Music Festivals & Events - From Tomorrowland and Ultra Music Festival to EDC and Coachella, electronic music festivals continue to attract millions of attendees worldwide. The report notes that the growing popularity of destination festivals—events that bring fans from across the globe—has fuelled revenue expansion in ticketing, sponsorships, and tourism industries.
Electronic music’s ability to dominate live events has made it one of the most commercially viable genres for promoters, brands, and artists. With festival culture thriving, its impact on the industry’s financial future remains substantial.
The Influence of Emerging Technologies - Technological advancements fundamentally change how electronic music is created, distributed, and experienced. The report highlights several innovations fueling growth, including:
• User-friendly music production tools – Software like Ableton Live, FL Studio, and AI-assisted beat-making tools have made music production more accessible, leading to a surge in independent artists entering the scene.
• AI-powered music generation – Artificial intelligence is beginning to augment the creative process, from AI-assisted mastering to real-time music composition.
• Virtual reality and metaverse concerts—With the rise of VR festivals and digital club experiences, electronic music is uniquely positioned to capitalise on immersive entertainment formats.
Electronic music’s market expansion could extend beyond traditional revenue streams as the industry continues to embrace AI, machine learning, and Web3 technologies.
Challenges & Future Outlook - While the industry is set for substantial growth, the report also outlines challenges that could impact the market’s trajectory, including:
• Copyright & AI-generated music—As AI tools become more advanced, the debate around AI-generated music and intellectual property rights will continue to evolve.
• Saturation of streaming platforms – As the number of artists and tracks released daily increases, standing out in the digital landscape will become more complex.
• Sustainability concerns in festival culture—As electronic festivals grow, promoters are under increased pressure to implement eco-friendly initiatives to reduce the environmental impact of large-scale events.
Despite these hurdles, the report remains optimistic about the industry’s potential, citing continued investment in emerging artists, new tech innovations, and evolving fan engagement models to sustain growth well into the next decade.
Final Thoughts - The electronic music industry is more than just a genre—it’s a global movement. With its seamless adaptation to streaming, live events, and new digital frontiers, its market value is set to reach new heights, cementing its status as a dominant force in the global music economy.
You can read the full report here: Wise Guy Reports—Electronic Music Market, which provides a detailed breakdown of industry projections and insights.