"We [the guitar industry] don’t have a problem attracting new interest. We have a retention problem. Because the 10% who commit to the instrument have a lifetime value to the industry of about $10,000. They buy, on average, five to seven guitars, a lot of them Fenders. If we were to reduce the abandonment rate of first-time players by just 10%, we have the potential to double the size of the entire industry"
Andy Mooney, CEO, Fender Musical Instruments