Vast majority of new players quit but the remaining 10% buy a bunch of gear

“Going back to the research, 45 per cent of the guitars that we sold every year went to new players; 90 per cent abandoned the instrument in the first year, so, as an industry, we don’t have a problem attracting new entrants, we have a member retention issue.

"So we did the math. The 10 per cent of the salmon that make it through the dam have a lifetime value of $10,000 [each]. They buy five to seven guitars, they buy multiple amps, they drive the hardware side of the business.

“We felt if we could reduce the abandonment rate by just 10 per cent we could double the size of the industry.

https://www.musicradar.com/news/weve-been-making-guitars-for-70-years-i-expect-us-to-be-teaching-people-how-to-play-guitars-for-the-next-70-years-fender-ceo-andy-mooney-on-the-companys-mission