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SWOT Analysis of EDM Industry

EDM Industry Swot Analysis

Music today is not just an art form; it is a business as well. As a matter of fact, music labels, artists and their fans together comprise of the mega music industry that exists in the world today. Given how categorized and divided music is, it would be quite erroneous for us to judge all genres together as one complete industry. Rather, we need to divide the music business into several distinct industries based on the genres or style of music. Only then, can we come up with a clear assessment and proper evaluation of the genre, its record labels its artists and the fandom that upholds it.

Each genre of music demands a different level of attention and a different method of analysis. It is a well known fact that all genres in the world are not on the same echelon. Some are higher in stature and esteem than the others. For example, it would be quite ridiculous for us to consider mainstream pop music in the same wavelength as country music. Both are popular and beloved in their own way, but mainstream pop music is clearly superior in terms of exposure and fandom. While we are on the topic of popularity, it is worth noting that the number of fans that a genre has is not an appropriate criterion of judging how good the genre is. At the end of the day, each genre is magnificent in its own way, and the industry upon which it is built, finds success in a manner of its own. Coming back to the original point of assessing and analysing a music industry, we need to bear in mind the fact that each music industry has its own limitations and strong suits. This is the reason why the SWOT Analysis or Strength Weakness Opportunities and Threats Analysis of a music industry is always conducted in a different manner than the one conducted for a different music industry.

This piece will be shed light on a thorough evaluation of the EDM (Electronic Dance Music) industry. Each genre is special in its own way, but one has to agree that the Electronic Dance Music industry is slightly more unique given the fact that it is quite relatively new. It’s roots can be traced back to no further than the 70s or late 60s at best perhaps. It is by far the number one genre in terms of fast paced development and evolution. As a matter of fact, the development of the EDM industry is quite in line with the development of sound engineering and technology. With each new invention in the field of sound technology, the Electronic Dance Music industry reach a new height in evolution and transformed itself into a form that had never been seen, or more appropriately heard of, before. Conducting a SWOT Analysis of the EDM industry becomes a steep task when considering the fact that the genre is subdivided into countless sub genres such as house, bass and drum, techno, dubstep and many more. For the casual listener, all of these sub genres may sound more or less the same, and the artists may seem homogenous in their actions. To the seasoned ears of the hardcore fan, each and every single sub genre has its distinct charm and appeal. Despite the massive diversity, there is no denying that the EDM Industry can be judged and assessed as one single entity given the fact that all the sub genres are riding along on the same course of evolution.

Strengths of the Electronic Dance Music Industry

The one thing that allows EDM to stand head and shoulders above the rest is the fact that it is clearly the sound of the future. As mentioned before, EDM has always been about development and evolution. The artists of this genre are dedicated to making use of existing technology and constantly adapting to new forms of technology. The Electronic Dance Music walks hand in hand with technology. So if one were to ask whether EDM would be relevant in 20 years’ time, then the answer would be a definitive “yes!” In addition to being in line with the changes in technology, EDM has artists who are always on the lookout for changes in the taste of the listeners. They are meticulous enough to pick up the small trends that occur in the world of music, and then tweak their styles of music in accordance to those trends. In short, sustainability and adaptability is undoubtedly an area of strength for the Electronic Dance Music industry.

Contrary to popular belief, live performances are an integral part of the EDM culture. It is as much about the wild and crazy fans as it is about the rigid and mechanic control surfaces. The only way to truly understand the impact of a live EDM performance is by attending a live show. The music played in those arenas or stadia captivate the crowd and literally put them in a trance (no pun intended). The congregation numbers can exceed well over 100,00 and that stat alone gives you a clear idea of how entertaining, energetic and exhilarating these live performances turn out to be. A lot of these performances are a part of music festivals or carnivals that are held in well known venues around the world, especially in Europe and North America. So as far as on stage performances are concerned, EDM artists can rival those of any other genre.

As mentioned before, diversity is a key component of Electronic Dance Music. There is something for everybody. The diversity is so great, that fans of one sub genre may actually have distaste for other genres. For instance, the person who likes Trance, is not very likely to be a huge fan of Big Room House. The diversity in EDM is as impressive as the diversity in Rock music. This is another reason why EDM has been able to garner so much adoration and admiration from music lovers from all across the world.

Weakness of the Electronic Dance Music Industry

The weaknesses of the EDM industry have a lot to do with how people perceive the genre to begin with. Since there is little or nothing classical about this form of music, a lot of people, especially the old school listeners of music, are reluctant to give EDM a try. The novelty factor comes into play here. EDM sounds a lot different than any other generic genre of music. It is far more dynamic and robust. One could say that Electronic Dance Music is characterized by high voltage sounds. Hence, people consider as music that is only appropriate for dance floors and nowhere else. Although this is not entirely true, one cannot deny the fact that the party going nature of EDM artists and fans does little to correct these faulty assumptions.

Another drawback of the EDM Industry is the evident lack of participation of female artists. When a young, aspiring, female musician dreams of making it to the big leagues, she seldom wishes for a career in EDM. Now there are quite a good number of female DJs that have made a big impact in this industry, but from an outsider’s perspective, it is quite clearly not enough. More female representation would do this industry a world of favours.

Some critics of Electronic Dance Music put forward the argument that the artists in this field are far less talented than the ones in other genres. Although this argument is laughable, one can’t help but feel that EDM artists require a greater amount of time to showcase their musical skills and abilities. This has a lot to do with the absence of vocals in their music. Instrumental songs can only take you so far. DJs with song writing and singing abilities would be something that everyone would love to watch and hear.

Opportunities for EDM

The industry has a greater opportunity to succeed than any other rival industry mainly because of the fact that mainstream pop music has grown an affinity for electronic music in the last few years. Elements of electronic music are being used on a more regular basis in R&B, hip hop, rock and pop music. This bond between mainstream music and electronic music is destined to grow stronger in the years to come. This also opens up a window of opportunity for EDM artists to share the main event spotlight with the biggest names in pop music.

Threats of EDM

Simplistic music will always be a threat to Electronic Dance Music Industry. One has to accept the fact that electronic music is generally complex and is dependent on complicated technology and techniques. People are drawn towards simple music, made with the help of simple instruments that can touch their hearts in a simple way. The modern day busy man has little time for complex drops, highs and lows of electronic music unless he is breaking his back in the dance floor. If you take a look at the music charts all across the world, you will find that the simplest of songs are the ones that are leading the rankings, while electronic music is lagging quite far behind. Unless EDM artists come up with simpler forms of music, they are at risk of replacement by plain, easy going and soothing music.

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