Pete Tong says the dance music market has peaked
"No one wants to say it too loudly"...
Pete Tong reckons the dance music market in the US and Europe has "peaked" but "no one wants to say it too loudly," declared the Radio 1 DJ during a recent interview with Billboard Magazine.
He doesn't reckon there will be a crash, though, but rather a slowdown that's more like a "puncture".
"I think we've been going through that for a couple of years. And now in 2017, like a housing crisis or decline, you're really feeling it more this year," said Tong.
It's not all doom and gloom though, he reckons there's still plenty of opportunities around the world, especially in Asia.
"I think there’s a perception that there's gold out there in those hills. I'm not saying there isn't, but none of us knows how much gold there is out there and how much they really want this scene."
But he does concede that China, especially, offers up the biggest opportunity in the future. "It's the last part of the world where it feels we don't really know that much about it. But the world seems to be opening up more to China, and China is opening up to the rest of the world."
