IMS Business Report 2024: Majority of survey respondents confident about the coming year

This year at IMS, the very first survey was conducted among members of the Association For Electronic Music, revealing that 75% of respondents expressed confidence in the upcoming year. Indicating that while 2023 was a good year for most participants, the coming year will be even stronger.

During this year’s IMS, a survey was conducted among members of the Association For Electronic Music, revealing that 75% of respondents are confident about the year ahead as noted inthe official IMS Business Report of 2024. This suggests that although 2023 proved favorable for many, the anticipation is that the forthcoming year will surpass expectations.

In the official report, it states that most promoters faced majority of the challenges in 2023, official publishers and North Americans were categorized as having to work the hardest at success. Now for 2024, according to the recent survey “DJ’s, producers,
North Americans, and Europeans are most confident that the upcoming year will be great for all. The IMS Business Report also notes that the the industry’s primary focus lies in aspects beyond its control, particularly the broader economy and its potential impact on fans. The initial discussions surrounding AI and uncertainity appears to have diminished somewhat as individuals now balance exploration with a more cautious approach. Additionally, the prominence of artist breakthroughs and development concerns underscores the intensifying competition within the music industry.

While we have also seen a significant increase in bookings according to the official report, there will always be competition between DJ’s and of-course venues securing the top-tier talent. The survey also highlighted that participants are “positive about
the electronic music industry’s approach to supporting non-male artists and staff.” However, also take into account the many challenges women are facing and the perception gap of how this may look from the outside.

Be sure to check out the full report here.