IMS was co-founded in 2007 by Pete Tong, Ben Turner, Danny Whittle, Mark Netto and Simeon Friend.

Held annually over three days, at the launch of the Ibiza season, IMS is a summit promoting the electronic music industry.

Established in 2007 by Pete Tong, Ben Turner, Danny Whittle, Mark Netto and Simeon Friend, now co-hosted by Pete Tong and Jaguar, it features speakers, seminars, technology masterclasses, performances and the presentation of the annual IMS Business Report.

[7][8] In February 2023, it was announced the US-owned online music store Beatport, a long-time partner of the summit, had acquired a majority stake in IMS.

Past keynotes have included Richie Hawtin (2009),[12] David Guetta (2010),[13] David Lynch (2011),[14] Carl Cox (2012),[15] Nile Rodgers (2012),[16] George Clinton (2014),[17] Erick Morillo (2016),[18] Pet Shop Boys (2016),[19] New Order (2017),[20] Charlotte de Witte (2019), Brian Eno (2022),[16] and Grimes (2023).

[1] In 2007, IMS was held at the Insotel Fenicia Prestige Suites & Spa and Atzaro Agraturismo Hotel, Ibiza.

[29] The IMS finale, an open air party featuring a night of DJ performances, takes place each year at the top of Dalt Vila, a UNESCO World Heritage Site in Ibiza's old town.