Fender guitar sales grow sharply in pandemic

Fender is expecting a record year this year as guitar sales have grown 17% during the pandemic and are expected to rise to $700 million, from $600 million last year, CNBC reports. Fender's CEO Andy Mooney attributes the rise in sales to housebound consumers looking for new hobbies. The company also offered Fender Play, the online video platform for learning guitar, bass and ukulele. Introduced in July 2017, it was free for 90 days to the first 100,000 subscribers. Fender hit that mark the very first day, reached a half million sign-ups the first week and settled at about 930,000 subscribers by June. In similar, yet less positive news, Guitar Center, the largest American retailer of musical instruments, has filed for bankruptcy, CNN reports.