Electronic music added £2.4 billion to UK economy in 2024, report finds

A new report from The Night Time Industries Association (NTIA) has revealed that electronic music contributed an estimated £2.4 billion to the UK economy in 2024.

While this is down from £2.5 billion the previous year, UK electronic music is valued at an estimated £88.4 million in recorded music and £45.5 million in publishing, amounting to a total of £133.9 million and a 1% increase from £132.7 million in 2023.

Read this next: Electronic music market projected to double in worth to $24.5 billion by 2032

Meanwhile, a total of 310 UK festivals featured electronic music this year, up from 294 in 2023. These festivals attracted 3 million attendees - a 14% increase - which increased festival revenues to £646.2 million. However, despite this growth, 72 independent festivals were cancelled, postponed or closed last year.

Similarly, UK ticket vendor Skiddle had record-breaking ticket sales of £163 million this year, with electronic music reportedly driving the majority.

The report showed the wide impact of the electronic genre on the music industry as a whole, with 80% of artists being "significantly influenced by electronic music", up from 73% last year. Meanwhile, the biggest proportion of artists performing at UK festivals fell into the electronic genre (29%) - with pop and rock accounting for 20% and 22% respectively.

Also highlighted was the plight of the UK's nightlife, with the number of clubs going down from 875 in 2023 to 851 in 2024, contributing £1,232 million to the economy, a decrease of 16% from £1,463 million in 2023. Overall, there were an estimated 85.5 million electronic-music based nights out across clubs, festivals and gigs in 2024, over 10 million less than 2023's figure of 97.5 million.

Read this next: NTIA warns of looming pressure on nightclubs ahead of April tax rises

Interestingly, according to NTIA, clubs have adapted to these challenges by introducing multi-use spaces, implementing earlier closing times and tapping into more diverse programming.

On top of the figures, the UK Electronic Music Industry Report, which is the third of its kind, emphasized a need for greater government recognition.

CEO of NTIA Michael Kill said: "Electronic music is one of the UK’s most significant cultural exports, contributing an estimated £2.4 billion to the economy in 2024 alone. Yet, despite its undeniable influence and growth, it remains hidden and marginalised by the Department for Culture, Media and Sport (DCMS). This report reinforces the importance of electronic music having a seat at the table - DCMS must recognise this sector as a truly valuable commodity, not an afterthought."

He added: "For too long, the electronic music industry has been overlooked when it comes to policy and support. It is time for the government to engage meaningfully, acknowledging its vast economic and cultural impact. This is not just about music - it is about jobs, communities, and the UK’s standing on the global stage."

You can read the full Electronic Music Industry report here.

Henrietta Taylor is Mixmag's Digital Intern, follow her on Twitter