Andy Mooney , CEO of Fender , revealed some interesting data about the musical instrument market.
Contrary to what many believe, the problem faced by manufacturers is not a lack of interest from young people in the instrument. Rather, it's the number of people who give up playing it.
According to him, 90% of people who buy a guitar to learn to play give up within the first 12 months of practice.
“As an industry, we don’t have a problem attracting new players. We have a problem retaining members,” said the businessman, referring to Fender Play and Fender Songs , online lesson services.
He also presented data showing that the 10% who remain loyal to the instrument buy approximately "five to seven guitars and several amplifiers".