The 2024 IMS Ibiza conference began today on the event’s namesake island electronic music mecca. The conference’s program includes three days of talks on multiple facets of the electronic music business, including streaming, labels, AI, wellness, the island clubbing economy and much more.
The report finds that Spotify remained the largest DSP, increasing its global share to 32% in the third quarter of 2023. Tencent Music Entertainment remained the third largest, overtaking Amazon Music in the third quarter of 2022. Meanwhile, Chinese platform NetEase Cloud Music also had strong growth and helped contribute to significant growth for the whole of the Chinese streaming market.
South Africa is also a standout, with nearly twice as many electronic listeners as people. The country’s strong listening figures, the report says, “reflect the degree to which South Africa has built its own electronic scenes and culture.”The genre gained significant followers across Facebook, YouTube, TikTok, Instagram and Spotify, and saw vastly more follower growth than rock, hip hop and Latin.