If you're into the scene, you don't need me to tell you how huge things are. But because most electronic music isn't the kind of stuff that gets played on the radio or the video channels, people on the outside have no clue as to what's going on.
But they're slowly catching on. And investors, tipped off about the big money involved, are taking notice. From the New York Times:
“If you’re 15 to 25 years old now, this is your rock ‘n’ roll,” said Michael Rapino, the chief executive of Live Nation Entertainment, the world’s largest concert promoter.
Two weeks ago, 165,000 fans went to the Ultra Music Festival in Miami to revel in the pulsating bass and wave glow sticks in the dark. Similar numbers have turned out for events in Los Angeles, Las Vegas and Dallas. With the boom, artist fees have exploded. Top D.J.’s like Deadmau5, Tiësto and Afrojack can earn well over $1 million for a festival appearance and $10 million for a Las Vegas nightclub residency, talent agents say.