How does the recent growth of Spotify and Beatport affect you as an artist?
The International Music Summit (IMS) in Ibiza attracts industry leaders and artists from around the world to enjoy a number of exciting seminars, debates, master classes and interviews. Annually, IMS Ibiza coincides with the release of the IMS Business Report, a study on the electronic music industry including a mass of interesting data. The report contains a number of statistics predicting the future of the music industry, and highlights the rise and fall of leading companies. This year, the business report contained a lot of data around Spotify and Beatport, two contrasting platforms that both attract a huge number of electronic music listeners each year. The predicted future of both platforms is set to have an impact on artists around the globe, so it is important to be aware of the data released. Predicting the future of the industry, including upcoming trends, is a key aspect of becoming even more successful as an artist. But what were the trends that the IMS Business Report picked up this year? Spotify Currently valued at $28 billion, Spotify has experienced exponential growth over the last few years. Paying subscribers are expected to double by 2020, predicted to reach a staggering 142 million, as the platform increases its dominance in the sector. Electronic music forms a major portion of the platform, accounting for a […]
Join the Revolution for free
- Read the full article above
- Get access to 5 articles from our library every month
- Receive our free PDF guide on how to build a social media plan