The Growing Power of Electronic Dance Tempts Large Investors
With David Guetta teaming up with Chris Brown, Nicki Minaj and Lil’ Wayne, the lines between hip-hop, pop, and R&B are fading by the minute. Moreover, dubstep is becoming a powerful genere that has infused itself into the culture, making electronic sound elements a sign of the times. It’s no wonder then, with dance music’s return to the scene, that promoters are offering big bills to get a taste of the strobelight. As DJs like Deadmau5 and Afrojack continue to rock crowds all over the country, electronic dance shows are increasingly growing, bringing the sector of music out from the dark warehouse parties and into large venues.
Just last month, tickets for the Electric Daisy Festival at the MetLife Stadium in New Jersey sold out in three hour, with tickets running at $100 and up. Before headliners were even announced, fans were ready to flock the colossal two-day event. As another testament to the new earning power of the growing eletronic music craze, this selling-out phenomenon has led corporate investors to scout promoters of live electronic dance music.
Live Nation, the forerunner of international live shows, is among the potential investors in small dance promoters like Insomniac, the company behind Electric Daisy. Ultra, another dance music promoter, is also be sought out, after drawing a crowd of 165,000 at their festival in Miami.
“If you’re 15 to 25 years old now, this is your rock ‘n’ roll,” Michael Rapino, chief executive of Live Nation told The New York Times.
The space left open by retro dance artists like Madonna has allowed for younger, fresh artists to be apart of the genre’s resurgence. With that, however, comes the flood of controversy surrounding the dance culture, primarily drug use. The underground aspect of the genre may also cause differences between promoters and corporate investors. Still, famed dance DJs can earn millions for performances in festivals and large nightclubs, which will likely trump any negative aspect of monetary merges.
Whether billionaire companies jump onboard or not, dance music’s transition into the mainstream is still noteworthy. Don’t be surprised when some of your favorites drop those bass-heavy, pulsating tracks. –Iyana Robertson