The report is written by David Boyle, the director of Audience Strategies, with the number being based on 2022 figures. The full worth of the UK’s electronic music industry is estimated to be around £2.63 billion.
Mike Grieve, chairman of NTIA Scotland and the director of Glasgow’s Sub Club, commented on on the importance of the country’s electronic music scene, both economically and culturally.
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He said: “Electronic music has been an important contributor to the social and economic wellbeing of the Scottish economy for decades, with established entities in our towns and cities producing significant artists and music output from the Highlands and Islands to the Borders and all points in between.
“Without the clubs, venues, promoters artists, labels and studios across the nation, the vibrancy of Scotland’s music scene would be very much diminished,” he continued.
“We can point to the biggest selling electronic music artist in the world, Calvin Harris, coming from [within] the Scottish Borders, cutting his teeth producing music at home in Dumfries in the early noughties before playing out to Scottish club audiences and ultimately selling out stadiums worldwide as one of the UK’s biggest ever musical exports.
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“This report makes clear how vital it is that this cornerstone of Scotland’s modern musical heritage is respected and protected and that the true value of electronic music to our communities and economy is appreciated and nurtured.”
The report also found that the UK is the second largest exporter of music in the world, behind the USA, with 10% of all music streams attributed to British musicians.
Its data also found that electronic music is the most popular genre of music at festivals, with 29% of artists performing at UK festivals being electronic music artists.
Lindsay McIntyre, the director of KSG Acoustics said: “This crucial report shines a spotlight on our culturally vital electronic music scene and the value it has to Scotland’s economy.
“As a provider of technical services to the music industry in Scotland, we have watched it grow and flourish and the artists, venues and events we support underline the creativity and social cohesion unique to this part of the live events sector.”
The report comes as the UK's nightlife industry comes increasingly under threat, as pressure from the cost of living crisis are leading to venues shutting their doors. Read Mixmag's report on how it is affecting clubs here.
Isaac Muk is Mixmag's Digital Intern, follow him on Twitter