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One year after we all learned that EDM could potentially be worth $20 billion by 2018, the Association for Electronic Music (AEFM) released a report today at the International Music summit in Ibiza, Spain stating that as of 2014, EDM is presently worth $6.2 billion. The figure is compiled from sources including festival revenue ($1.03 billion); Vegas club dates ($800 million), other global club gigs ($2.4 billion); traditional recorded music sales ($800 million) and streaming/video services ($600 million); sales of DJ software and hardware ($360 million); DJ earnings from other ventures ($60 million) and value of platforms like Soundcloud ($140 million).

Citing the massive success of "first wave" EDM artists like Avicii, Calvin Harris and David Guetta as well as "second wave" stars Hardwell, Zedd, and Nicky Romero, what is intriguing to note is though dance music sales have exploded in North America that North American names like Skrillex, Diplo, and A-Trak have yet to be mentioned in the conversation. Given that North American wealth supporting North American artists could easily spur the "third wave" of EDM success (to an untold degree), the course has absolutely been set for $20 billion in worth for the genre and culture in four years time.

Related: The Best EDM Festivals in the World