If you weren’t already aware of EDM’s booming popularity in the United States, this will surely catch your attention. Forbes, the business magazine dedicated to all things finance, marketing, and investment, has caught wind of the ever-growing music movement and has put out a list of the industry’s most profitable DJs in an article entitled The World’s Highest Paid DJs. The article focuses on the fact that EDM has become the musical-cultural movement of the moment. Much like rock n’ roll and hip-hop before it, EDM is big business, and it has become so popular that it has been incorporated into mainstream music like never before.
In highlighting this trend, Forbes compiled the top ten earners in the scene. The list was nothing surprising; the usual group dominated the list: Skrillex, David Guetta, Avicii, Swedish House Mafia and so on. Every artist on the list is making in excess of several million dollars a year. The top spot on the list was none other than Dutch Trance superstar Tiesto, who is reported to make nearly $22 million a year.
All of this highlights a portion of the music industry whose profit is almost completely reliant on touring and live shows rather than record sales. EDM is a scene that has banked on both the growth of festivals, as well as the importance of social media, particularly Twitter and Facebook. In a music industry that constantly claims to be on the verge of death, EDM has proven to be both profitable and marketable in a way never seen before.
As the popularity of EDM continues to rise, expect to see even more breakout stars and even higher profits, particularly as the corporate world looks tap into the music.
For the complete article and list of the top ten highest paid DJs, read the article at Forbes here.