Last year retailers sold $1.9 billion of new fretted instruments (mainly guitars) and related gear, up 8.9% from 2016. Andy Mooney, CEO of Scottsdale, Arizona-based Fender, says his company has been growing faster than the industry. Last July Fender introduced Fender Play, an online subscription guitar lesson service. This March it rolled out a line of lower priced guitars aimed at beginning players, particularly young women. These look like Fender guitars, they play like an electric guitar, they’ re colorful and I think we can market them to a younger consumer that will grow up with us over time.

Source: Forbes March 28, 2018 17:17 UTC