The Market for Musical Gear Is Amping Up Like Never Before
Bloomberg 4 days ago Jonathan Roeder
(Bloomberg Businessweek) The numbers are in, and the pandemic has officially turbocharged the market for musical equipment: Online retailer Sweetwater reported record growth last year, surpassing $1 billion in sales; Fender Musical Instruments signed up 900,000 users for its Play lessons app.
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The action has been especially pronounced in the secondhand market. David Mandelbrot, chief executive officer of online marketplace Reverb.com LLC, says there’s been a boom for anything that can be used comfortably in the living room whether guitars, ukuleles, keyboards, or drum machines.