The average guitarist will spend $10,000 on gear over their lifetime
Fender’s research into the guitar market has delved into who is buying new guitars, and also, as touched on by CEO Andy Mooney in our recent interview with him, how much guitarists are spending on gear over their lifetime.
Mooney brought up the survey in reference to the different educational tools Fender offers. Fender Play, he says, was designed to get beginners hooked on playing the guitar – while Fender Songs is more oriented at people who can already play, and make it easier for them to learn new songs and engage with their instrument in different ways. The goal, in either case, is to grow the number of lifetime players – and in turn, the guitar industry: “Someone who commits to the instrument for life has a lifetime value of $10,000. They buy five to seven guitars over their lifetime, multiple amps, multiple accessories. They drive the hardware side of the business.”
While Gibson’s filing for bankruptcy last year sparked a few doom-and-gloom headlines pondering the death of the six-string, a study by IBISWorld indicated continual growth of the industry between 2013 and 2018, and also projected that this momentum will be maintained until at least 2022.
Looking at the cycle of new releases, it’s no surprise that there is scope for growth. Brands like Fender, Gibson and PRS continue to roll out more and more models – not to mention the many smaller, niche builders such as Sacha Dunable or Florian Bouyou thriving off the appetite for axes. With the current number of exciting new amps, guitars and pedals being built by industry giants and independent builders alike, and a wave of innovative guitar-driven music in full-swing, it’s no wonder guitarists are reportedly shelling out so much on their gear.
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