As the International Music Summit Ibiza's Business Report for 2016 has been released to the public, the report reveals that the global electronic music industry is now worth a whopping $7.1 billion which is 60% more than three years ago.
Related: Music Discussion by Genres
In addition to these numbers, techno has overtaken tech house as the most popular genre on Beatport. Techno which ranked #3 in most popular genres in 2014 has surpassed both deep house and tech house to be at the #1 spot.
In addition to techno being the best selling genre, the report also states that EDM has become the 5th most popular streaming genre in the US behind that of hip-hop, rock, pop and latin music.
Grab the full report here.