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Flaxwood Guitars, Perspective of a "new" player entering the market - Rick Nelson

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TonalInnovationCenter

Tonal Innovation Center (TONIC) hosted the second annual International Musical Instruments Seminar in Joensuu, Finland on 14th September- 16th September 2011.

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¡° So You Think You Can Compete In The Music Industry?¡± Breaking into the Music Business, from the perspective of a new player in the market
¡° It¡¯s gotta be a Fender, a Fender Copy, a Gibson or a Gibson Copy¡±
In spite of their looks, guitar players are very conservative 60+ yr. old designs are still the predominant choices for guitar players ¡° traditional¡± construction methods have changed, but not materials or body shapes Guitarists are slow to accept something new or different.
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Some 20th Century innovators Leo Fender Les Paul (Gibson) Paul Bigsby Ned Steinberger Grover Jackson Trevor Wilkinson Floyd Rose Bob Taylor Ken Parker
¡° You only have one chance to make a first impression¡±
The Worldwide Web: www.
¡° Online Revolution¡± 1995: 634,000 internet sites 2010: 255,000,000 internet sites 21,400,000 new internet sites in 2010 alone¡­ Much more information is available to the consumer than ever before
Factoids: 96.4% of M.I. retailers have a website 62.4% of M.I. retailers will redesign their internet sites this year 43.8% of M.I. retailers sell new products online
Internet Sales In 2010 34% of total music industry sales were made online or by catalog vs. only 9% in 1995 #1: Thomann (Germany): $752.4M / €524.8M Musician ¡¯s Friend (USA) $708M / €495M
Social Media 80.6% of M.I. Retailers now have a Facebook presence 42.6% of M.I. Retailers are on Twitter
Where purchases were made: Independent M.I. Retailers: 41.2% ¡° Chain¡± Stores: 36.9% Online Stores: 21.9%
Fretted Instrument Sales Guitars are STILL the single most popular instrument worldwide 2010: 2,377,310 units sold in the U.S.A.; $839M / €590M (up 2.2% vs. 2009) Acoustics (1,200,831 units) up 8.2% 2010 vs. 2009 Electrics (1,176,479 units) up 1.1% 2010 vs. 2009
Guitar Purchase Survey Survey of over 1,100 consumers who purchased a guitar valued at €645+ during the last 12 months 93% male; 7% female Median age: 32 years old Median Income: €43,700 Owner ship level: 2.9 instruments ea.
Guitar buyers are willing to sample a variety of retail formats: Online retail stores Chain stores Independent retail stores
Guitar buyers remain highly price driven 90.9% of online buyers said ¡°low prices¡± were extremely important to them 49% of online buyers were ¡°very satisfied¡± with their purchase
The €??$ have it¡­ ¡° We don¡¯t make a lot of money in the music business, but we sure don¡¯t make a lot of money¡±
¡° Who IS that masked man?¡±
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Flaxwood Guitars, Perspective of a "new" player entering the market - Rick Nelson

  • 1. ¡° So You Think You Can Compete In The Music Industry?¡± Breaking into the Music Business, from the perspective of a new player in the market
  • 2. ¡° It¡¯s gotta be a Fender, a Fender Copy, a Gibson or a Gibson Copy¡±
  • 3. In spite of their looks, guitar players are very conservative 60+ yr. old designs are still the predominant choices for guitar players ¡° traditional¡± construction methods have changed, but not materials or body shapes Guitarists are slow to accept something new or different.
  • 4. ?
  • 5. Some 20th Century innovators Leo Fender Les Paul (Gibson) Paul Bigsby Ned Steinberger Grover Jackson Trevor Wilkinson Floyd Rose Bob Taylor Ken Parker
  • 6. ¡° You only have one chance to make a first impression¡±
  • 8. ¡° Online Revolution¡± 1995: 634,000 internet sites 2010: 255,000,000 internet sites 21,400,000 new internet sites in 2010 alone¡­ Much more information is available to the consumer than ever before
  • 9. Factoids: 96.4% of M.I. retailers have a website 62.4% of M.I. retailers will redesign their internet sites this year 43.8% of M.I. retailers sell new products online
  • 10. Internet Sales In 2010 34% of total music industry sales were made online or by catalog vs. only 9% in 1995 #1: Thomann (Germany): $752.4M / €524.8M Musician ¡¯s Friend (USA) $708M / €495M
  • 11. Social Media 80.6% of M.I. Retailers now have a Facebook presence 42.6% of M.I. Retailers are on Twitter
  • 12. Where purchases were made: Independent M.I. Retailers: 41.2% ¡° Chain¡± Stores: 36.9% Online Stores: 21.9%
  • 13. Fretted Instrument Sales Guitars are STILL the single most popular instrument worldwide 2010: 2,377,310 units sold in the U.S.A.; $839M / €590M (up 2.2% vs. 2009) Acoustics (1,200,831 units) up 8.2% 2010 vs. 2009 Electrics (1,176,479 units) up 1.1% 2010 vs. 2009
  • 14. Guitar Purchase Survey Survey of over 1,100 consumers who purchased a guitar valued at €645+ during the last 12 months 93% male; 7% female Median age: 32 years old Median Income: €43,700 Owner ship level: 2.9 instruments ea.
  • 15. Guitar buyers are willing to sample a variety of retail formats: Online retail stores Chain stores Independent retail stores
  • 16. Guitar buyers remain highly price driven 90.9% of online buyers said ¡°low prices¡± were extremely important to them 49% of online buyers were ¡°very satisfied¡± with their purchase
  • 17. The €??$ have it¡­ ¡° We don¡¯t make a lot of money in the music business, but we sure don¡¯t make a lot of money¡±
  • 18. ¡° Who IS that masked man?¡±
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Editor's Notes

  • #13: ¡° Chain Store examples: Guitar Center, Sam Ash, Musik Produktiv, Musik Borsen etc.