Geoff Edgers wrote about the economics of the guitar market:

• In the past decade sales of electric guitars have fallen 33% from 1.5 million to 1 million a year.
• During their golden age “guitar heroes” like Chuck Berry, Pete Townshend, and Eddie Van Halen inspired American youth to pick up electronic guitars.
• Now that generation is retiring and downsizing its collection. Newer generations are more interested in electronic music.
• The industry has tried to innovate: millions were spent developing a self-tuning robotic guitar. They were widely derided.
• It is also experimenting with monthly subscription models so parents don’t have to worry about investing in a guitar that their children may lose interest in.
• One unexpected bright spot in the broader market for guitars: Taylor Swift has inspired a generation of girls to try their hand at the guitar.
• Swift’s origins as a country musician helps explain why acoustic guitars have done better than electronic ones in recent years.

Read more on The Washington Post.

Via: Marginal Revolution