EDM, electronic dance music, is becoming a big market in the music industry.
According to Forbes article The World’s Highest-Paid DJs 2017, the top 10 DJs in the world 2017 make as much as $298 million, up from $270.0 million in 2016. The highest-paid is Calvin Harris who made $48.5 million.
The article says in the DJ industry, a lot can change in a quite short period of time. Marshmello ,who ranked 8th, is pretty new in the industry. His mega hit track Alone was released just about a year ago. I often listen to EDM songs on youtube mix, and Marshmello’s Alone always appears. I like the song but, it was too much so there was a time when I didn’t want to listen to it any more.
How do they make money? I mean, isn’t music industry is tough now because people are no longer buying CDs as they used to? This article explains where all the money they make come from.
As the article shows, there are many ways DJs can monetize from their music. It seems that one of the biggest revenue streams is touring. Tiesto might be the hardest working DJ as he played 139 gigs in Forbes scoring period.
Some even start their own record label. Mad Decent is a Los Angeles-based record label spearheaded by Diplo. He had this label release Baauer’s “Harlem Shake,” and it became viral and made a huge profit from YouTube streams.
Entertainment industry, as well as sports industry, has a potential to be a bigger market as simple jobs are being replaced with AI and it is expected that people have more time and get bored.
How about make money out of your talent?
Take it up!! 