Introduction to EDM Festival
Electronic Dance Music Festival
Electronic Dance music Festivals have provided manifold incentives for investors and stakeholders. Festivals provide fun, energy, enthusiasm, and mental relief to many. People have been flocking to EDM festivals in millions around the world. It is a memorable and enjoyable experience for people of every age group. It is a healthy, selective, inclusive, and nimble way of fun and entertainment. It is, on the other hand, a booming business as well. It is a $4billion market around the world. Companies are investing in EDM festivals because hefty profits are earned from these festivals. It is a costly affair and can be highly profitable as well. EDM has moved from Western countries to the East. In China, the growth of EDM is persistent and prevalent. Unfortunately, the COVID-19 hit and grounded the possibility of EDM festivals in 2020. Once the pandemic is controlled, these functions would again in a routine with more zeal and zest. The EDM functions are realizing experience for the Chinese population which then holds an opportunity for investors. The investment in this sector would yield massive dividends in both long and short term.
Attending EDM is not only fun but also a hefty business activity. Musical performance by EDM DJs with the use of electronic gadgets which is a potential source of market for local manufacturers, distributors and wholesale. This presents itself as a lucrative opportunity which helps the local market as well.
EDM dispenses socialization opportunities. People dance with their partners in such festivals. While many attend the festival with their groups of friends, they will occasionally be able to find and mix around with new friends. People with similar viewpoints regarding life easily converge on such social gatherings. Similarly, EDM festivals are an amazing opportunity to click and share enthralling pictures. People share their live experiences of the shows with acme interest on their social media platforms. This leads to an unending cycle of people attending ready to attend the festivals due to the spread of awareness and engagement online. In a nutshell, it supports and increases the chances of more tickets being sold and more people becoming part of the festivals.
EDM dispenses socialization opportunities. People dance with their partners in such festivals. While many attend the festival with their groups of friends, they will occasionally be able to find and mix around with new friends.
People with similar viewpoints regarding life easily converge on such social gatherings. Similarly, EDM festivals are an amazing opportunity to click and share enthralling pictures. People share their live experiences of the shows with acme interest on their social media platforms. This leads to an unending cycle of people attending ready to attend the festivals due to the spread of awareness and engagement online. In a nutshell, it supports and increases the chances of more tickets being sold and more people becoming part of the festivals.
EDM is a revered source of self-therapy. People do not shy and hesitate to restrict themselves. From past festivals, it can be seen that festival go-ers arrive at festival fully decked out in their full glitter and glam and festivity wear.
Despite all that was said, EDM is still an emerging business. In the US alone, it has a $2billion market and another $2billion in Europe. On the global level, renowned companies are expanding their footprints in the EDM festivals through partnerships and acquiring businesses. The growth potential is northward and incessant for every range of investors and companies. The synchronization of EDM with the local market forces has increased its viability. According to Lucky Zangh, cooperation among local night clubs, radios, TV channels, and distribution networks has facilitated international big names to earn the profit. It has wide opened the margin of growth for local and international investors.
EDM festival markets are everlasting and growing. The potential of markets is expanding from the US to China. China is one of the most lucrative and preferred markets for the growth of EDM festivals for several key reasons. China has a young population of around 600 million from a total of 1.3 billion, which is double the total population of the US. Such a large population revers music and enthusiastic for fun. China has more than 13 cities with a population of more than 10 million. Whereas, 80 cities have a population exceeding 1 million. The size of the market is colossal and the potential of growth is unprecedented. China, as of now, is an unpolished gem waiting to shine as the market surges with more festivals to be held after the pandemic.
DM festivals have huge potential to engross huge sums from music lovers and festivals seekers in China. Investors around the world are vivid in their stance to promote it and gain huge financial dividends. Popular DJ’s are being paid in millions by Chinese organizers. Local distributors and promoters can earn hundreds of millions of dollars from such booming performances of the mega-bands. Hence it can be seen that EDM is not an outcast music genre in the seemingly traditional Chinese culture. It is not limited to a special class of people. It has mammoth financial potential and most it has already been actualized in the larger Chinese metropolitans.
China is not a silent spectator of EDM. In the year 2018, 16 EDM festivals were held in various Chinese cities and in 2019, the number of EDM festivals held increase to 28. Although the COVID-19 has ransacked the positive trajectory. But the future is bright for such shows. Budweiser Storm, LIC, UMF EDC, Electric Zoo, and Tomorrowland are interested to tap into the Chinese market. These companies have already done successful shows in Shanghai, Shenzhen, and other major cities. The average ticketing price is around $100. Whereas, Summer Sonic and Myth Festival have also landed in China in recent years. Organizers and promoters are rampaging into the Chinese EDM arena.
Overall, the Chinese EDM industry is still in nascent and naïve mode. It has the capacity and capability to outsize those in Western countries. Investors should get this opportunity to become part of this profit-making enterprise. Distributors and investors should realize the value of the opportunity. In a nutshell, the end of the pandemic would open massive barrage for the EDM festivals among enthusiastic Chinese.
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