17 December 2017
With about 60% of global millennial population and growth economies, Asia becomes the emerging market for the Electronic Dance Music – EDM.
Many major Asian cities boast EDM festivals, despite the unique challenges posed by countries with reams of rules controlling nightlife and law enforcement.
This phenomenon has also well and truly hit Myanmar.
The massive growth in social media has also a driving force to the latest music and fashion trends.
General admission to a festival that would cost over 100 dollars in the West is less than 20 dollars in Yangon. It helps the EDM fans to enjoy the festival with enough cash to burn.
EDM fan, Wai Yan Moe said “I just came here to have fun. This is the first time I've been to something like this!”
Inspired by their high profile guests, home-grown talent is also booming. Superstar DJs charge jaw-dropping rates for the emerging markets.
M-invaders , DJ Lu Lu said “You’re playing on the same stage as the international DJs -- both local and international DJs at the same festivals. But you all wear the same badges and bracelets saying ‘Artist’. It’s just really exciting.”
But this emerging market is not without its challenges.
With the cost of the talent outweighing ticket sales, there are questions over the sustainability of hosting festivals in the country.
H-Life promoters, 808 Festival Yangon, Kaung Sett said “"The market is growing, yes, but the demand is not as big and as fast as we want to be. The locals are adapting very fast but the spending power is a very big challenge."”
Each year EDM nets around 7.4 billion dollars globally, according to the IMS Business Report 2017, whose research estimates around 1 billion dollars pours in from the Asia-Pacific.