IMS Business Report 2022: DJ Software & Hardware value up 14%
The IMS Business Report 2022 is finally out and has provided the hard numbers and fact-based statements on trends within the electronic community. While there are a plethora of keynotes from the report, an interesting trend is seeing how DJ software & hardware have a year-over-year increase of 14% leading with a valuation of $1.2bn.
It is speculated that the monstrous uptick in valuation is associated with at-home purchases during most of the COVID-19 shutdowns which consequently led to an even bigger uptick in purchases for both software and hardware with a looming reopening of venues. In previous years, the valuation of products sold always trended slightly upward. For example, in 2019, the valuation sat right around $900 million, and then in 2020, the valuation saw a $133 million addition (or a 12% increase in valuation), thus leading to 2021’s numbers of $1.2bn and a 14% increase.
According to the business report, a company has stated, “2021 would have been even stronger if it weren’t for the chip shortage and the global shipping challenges…”, which is also another strong instance to be considered.
While this news is certainly positive for some of our favorite DJ products and software companies, and also may potentially hint at more of an interest in music production on a wider-scale level, there were some less-than-positive factoids that were touched upon within the report, such as only having less than 2,000 electronic musicians making at least $65k per year. Additionally, much of this number is split among collaborators, writers, etc.
You can find the full IMS Business Report here.
Image credit: Olly Curtis/Future Music Magazine