The International Music Summit (IMS), a platform for business, culture and education in the field of electronic music, has published the results of its latest research. Analyzes are conducted on an annual basis by analyst Kevin Watson using data obtained from a number of industry professionals around the world. This year’s detailed study was on data from 2020 in which the coronavirus pandemic significantly affected electronic music and virtual entertainment. The most important ones: - The value of the global industry is predicted to be $3.3, a fall of 56% from $7.3 in the previous year - Dance/electronic clubs & festivals could lose 75% of their income in 2020, equivalent to $3.3 - DJ and artist income could fall from $1.1 in 2019 to $0.4 in 2020, a drop of 61% These data are based on the current situation in the world caused by the coronavirus pandemic and isolation. As economies open, shifts and growth are expected in the next 5 to 10 years By April 20 approximately 350
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