Electronic music boosts UK economy 2024

Electronic music generated an estimated £2.5 billion for the UK economy during 2023, a new report has revealed. 

The findings from the Night Time Industries Association (NTIA), and conducted as part of the 'Electronic Beats, Economic Treats 2024' music report, have been published as ICMP launches its new BA Electronic Music Production degree to help give a platform for the next generation of dance music talent.  

The study found that electronic music ranks second among genres on music services in the UK, and 30 percent of artists playing music festivals are electronic.

This, the report shows, has led to the economic contribution from festivals having risen by nine percent to £567.8 million.

edm uk 2024 report DJ at festival

ICMP's Dean Jonathan Whiskerd said:

The report illustrates that electronic music has huge impact in the UK, both economically and culturally. For creatives looking to advance a career in this field, our new degree offers a platform to develop knowledge and skills in an exciting and expanding creative sector."

The report has revealed that 80 percent of people experience emotional and mental health benefits at electronic music events.

uk electronic music report EDM gig

Further findings showed how electronic music's cultural impact is extending beyond nightclubs.

The genre was responsible for 10.6 percent of all UK singles revenue in 2022 - this figure was up by 10 per cent from the previous year. Electronic music was also responsible for 15.5 percent of the weekly Top 10 in the Official Singles Chart in 2023.

Access the Night Time Industries report here.