American musical instrument retailer
Guitar Center
is an American
musical instrument retailer
chain based in
Westlake Village, California
. It is the largest company of its kind in the United States, with 304 locations.
[1]
The company oversees subsidiaries which include Musician's Friend, AVDG,
Music & Arts
,
Woodwind & Brasswind
, and
Giardinelli
.
History
[
edit
]
The company was founded in
Hollywood
in 1959 as
The Organ Center
, a retailer of
electronic organs
for home and church use, by Wayne Mitchell. In 1964, after one of his suppliers informed him that in order to continue receiving organs he would also have to carry
Vox
guitar amplifiers
, Mitchell added the amps and changed the store's name to
The Vox Center
, capitalizing on the popularity of
the Beatles
and their association with the Vox brand. Toward the end of the 1960s, as other brands like
Marshall
rose in popularity, Mitchell changed the name again to Guitar Center.
[2]
[3]
By 1972, Guitar Center had expanded to eight locations and eventually opened stores in
San Francisco
,
San Diego
and
suburbs
of
Los Angeles
. The company was purchased from Mitchell in the late 1970s
[4]
by Ray Scherr, the General Manager of the San Francisco store.
The 1980s "guitar rock" revival, led by
Van Halen
and an influx of
Japanese
-produced instruments, brought guitar sales to unprecedented levels, and Guitar Center expanded across the United States to become the largest musical instrument retailer in the country.
[5]
Scherr sold the company in 1996. The following year, with 30 stores on the West Coast and in Michigan, Ohio, and Florida, Guitar Center made an
initial public offering
of stock and opened more new locations.
[6]
[7]
In 2000, Guitar Center acquired
mail order
and
e-commerce
retailer
Musician's Friend
[8]
for $50 million, and said the merged company was the world's largest seller of musical instruments.
[9]
Musician's Friend became a wholly owned subsidiary, with its headquarters remaining in
Medford, Oregon
.
In 2005, Guitar Center Inc. acquired Music & Arts, the largest band and orchestra dealer in the United States, and merged it with their American Music Group chain of band and orchestral stores. The company was renamed Music & Arts.
[10]
The same year, Guitar Center, Inc., started The
Fender Music Foundation
, a nonprofit organization that supported music education.
[11]
In 2006, Guitar Center acquired four stores in Texas from the South Texas and Central/South American company, Hermes.
[12]
In the same year,
Activision
partnered with Guitar Center, and all purchases made during game play of
Guitar Hero
, beginning with the second installment, were made in a virtual Guitar Center store.
In February 2007, the Musician's Friend division acquired assets of the Indiana-based company Dennis Bamber, Inc., which included band and orchestra retailer Woodwind & Brasswind, plus Music 123 and Lyons Music.
In June 2007, Guitar Center agreed to a $1.9 billion buyout from
Bain Capital
, totaling $2.1 billion including debt. The deal was led by
Goldman Sachs
and amounted to a per-share price of $63, or a 26% premium on the June 26 closing price. The deal was approved by shareholders on September 18, 2007, and closed October 9, 2007.
[13]
In mid-2009, Guitar Center opened its first rehearsal and lessons studio facility in Woodland Hills, California, consisting of eight studios with backline,
[
clarification needed
]
ranging in size from 350?550 square feet (33?51 m
2
).
In 2011, Musician's Friend's headquarters operations were moved to Guitar Center's facilities in
Westlake Village, California
.
[14]
In the same year, Guitar Center began offering equipment rentals in one of their San Diego stores. Rental departments were extended to ten other locations, with plans to offer rentals across the country.
In May 2013,
Standard & Poor's
cut its debt rating on Bain Capital-owned Guitar Center Holdings Inc. to "
junk bond
" status, citing struggles with "weak operating trends." The corporate credit rating on the company dropped from B to 'CCC+'.
[15]
In April 2014,
Ares Management
took a controlling stake in Guitar Center. Bain Capital, Guitar Center's former owner, retained partial ownership of the company, along with representation on the board. According to Mike Pratt, the retailer's previous chief executive, the deal would reduce Guitar Center's total debt and provide it with the resources to expand and invest in its business.
[16]
In August 2014, Guitar Center opened a new 28,000-square-foot flagship location in
Times Square
in
New York City
.
[17]
The opening included a concert featuring
The Roots
.
[18]
The Guitar Center Times Square location became the permanent home of
Eric Clapton
's
Blackie
Fender Stratocaster
,
[19]
which had been purchased at a
Christie's
Crossroads Centre
auction in 2004 for $959,000.
[20]
In April, 2017, Moody's Investors Service revised the outlook on Guitar Center's B2 rating to negative. In the face of flat sales in the musical instrument industry as a whole, Guitar Center became overwhelmed by its $1 billion debt.
[21]
Guitar Center filed for bankruptcy in 2020 and the Times Square location was closed. On November 13, 2020, during the
COVID-19 pandemic
, Guitar Center announced that it planned to file for
Chapter 11
bankruptcy protection after negotiating a debt-cutting deal with key investors and lenders. Guitar Center said it had received up to $165 million in new equity, and lenders agreed to reduce its debt by around $800 million.
[22]
[23]
[24]
The company emerged from Chapter 11 bankruptcy on December 23, 2020, after a reorganization deal added additional equity and debt capital.
[25]
Guitar Center Legends Collection
[
edit
]
In 2004, the Guitar Center began a "Legends Collection"
[26]
with guitars made famous by
Eric Clapton
,
Stevie Ray Vaughan
, and
U2
's
the Edge
. The Centre purchased Clapton’s “
Blackie
”
Fender Stratocaster
for $959,500, his vintage
Gibson
“
ES-335
” for $847,500, and Vaughan’s “
Lenny
” Stratocaster for $623,500, a total of over $2.4 million, in the Clapton
Crossroads Centre
charity auction at
Christie's
, New York. The Edge’s cream white
Gibson Les Paul Custom
was purchased for $240,000 at the
Music Rising
Charity Auction in 2007.
[27]
The collection has been exhibited in a tour of musical events and Guitar Center locations, such as the one held at
Madison Square Garden
as part of Clapton’s
Crossroads Guitar Festival
in April 2013.
[28]
In August 2014, Clapton’s Blackie and ES-335 were moved to a new permanent location in
Times Square
.
Clapton's cherry red Gibson 335 was used to record Cream’s versions of "Badge" and "Crossroads (from their final live performance in November 1968), and other historical performances over 40 years. Steve Ray Vaughan’s "Lenny" was used to record his classic love songs, including "Lenny" and "Riviera Paradise". The Edge's cream-colored 1975 Les Paul Custom, faded from its original white, had been used for U2's stage and studio performances. All the proceeds from the sale of these guitars went to Clapton’s Crossroads Center charity.
In 2005, the Edge, producer
Bob Ezrin
, Gibson, and the Guitar Center Music Foundation (now known as the
Fender Music Foundation
) established Music Rising, a charity to benefit musicians whose lives had been disrupted by
Hurricane Katrina
. In 2007 The Edge donated his guitar to be auctioned for the charity and It was sold for $240,000 to Guitar Center ($288,000 including Buyer's Premium).
[29]
Guitar Center's Drum-Off
[
edit
]
From 1988 through 2016, Guitar Center conducted an annual search for the next great undiscovered drummer. Developed to spotlight the drumming community, the Drum-Off was the music retailer’s longest running artist-discovery program.
[30]
The process of Guitar Center’s Drum-Off
[31]
began with three rounds of preliminary competitions at each of Guitar Center's 250+ locations nationwide, with each contestant allowed five minutes of set up time and three minutes to perform. One winner from each store final competition advanced to one of 30 quarterfinal competitions, and one winner from each quarterfinal competition advanced to one of five semifinal competitions, during which contestants were allowed five minutes to perform. The winners from each of these five semifinal competitions qualified to compete in front of a live audience and a panel of celebrity judges at Guitar Center's Drum-Off finals in Los Angeles, California.
In the finals, each contestant was required to perform on a 5-piece acoustic drum kit complete with hardware, cymbals, cowbell, throne and the option to incorporate a
Roland
SPD-30 Octapad (the SPD-30 was not included in 2016). Contestants were evaluated by a panel of independent and credible judges on the following criteria: skills & technique, groove, originality, stage presence, and overall performance.
Guitar Center discontinued their sponsorship of the annual contest in 2017.
[
citation needed
]
Hollywood's RockWalk
[
edit
]
The
Sunset Boulevard
location in Los Angeles hosts
Hollywood's RockWalk
, a hall of fame, honoring musical artists.
[32]
Founded in 1985, artists are invited to place their handprints into cement blocks that are put on display at the Guitar Center.
[33]
The inaugural inductees were music gear pioneers
Jim Marshall
,
Robert Moog
,
Les Paul
, and musicians
Eddie Van Halen
and
Stevie Wonder
. Currently, over 150 more honorees are enshrined.
[32]
Other inductees include
Elvis Presley
,
Chuck Berry
,
Bo Diddly
,
Carole King
,
Alice Cooper
,
Holland-Dozier-Holland
,
Herbie Hancock
,
the Black Crowes
,
The Ramones
,
Dick Clark
,
Willie Dixon
,
Buddy Guy
,
KISS
,
John Lee Hooker
,
Smokey Robinson
,
Solomon Burke
,
John "Jabo" Starks
,
Robert Cray
,
Etta James
,
Ike Turner
,
Kim Se-hwang
,
Muddy Waters
,
B'z
,
Eric Clapton
,
AC/DC
,
Aerosmith
,
Alanis Morissette
,
B.B. King
,
Black Sabbath
,
Carlos Santana
,
Cheap Trick
,
Def Leppard
,
Ernie Ball
,
Grandmaster Flash
,
Iron Maiden
,
James Brown
,
Jerry Lee Lewis
,
Jimi Hendrix
,
Jimmy Page
,
Joan Baez
,
Joe Satriani
,
Bonnie Raitt
,
Kenny Loggins
,
Johnny Cash
,
Layne Staley
,
Little Richard
,
Lynyrd Skynyrd
,
Melissa Etheridge
,
Nancy Wilson
,
Queen
,
Roky Erickson
,
Clyde Stubblefield
,
Slash
,
The Doobie Brothers
,
The Wrecking Crew
,
Van Halen
,
Vince Gill
,
Simon Kirke
,
Lizzo
,
Nick Cave
,
Thin Lizzy
,
Judas Priest
,
Oasis
,
Mud
,
Korn
,
In Flames
,
Jakob Dylan
,
BTS
,
Yola
, and
Chick Corea
.
[33]
[34]
Media
[
edit
]
Guitar Center Sessions
[
edit
]
Debuting in 2010, each episode of
Guitar Center Sessions
showcases exclusive live performances by noteworthy artists captured in hi-definition at Guitar Center's iconic
Hollywood
, California location. Past guests include
Linkin Park
,
Saint Motel
,
Wiz Khalifa
,
Billy Idol
,
The 1975
,
Sum 41
,
Weezer
,
Smashing Pumpkins
,
Peter Gabriel
,
Alanis Morissette
,
311
,
Megadeth
,
Snoop Dogg
,
Soundgarden
,
Seether
,
The Cult
,
Cake
,
Jakob Dylan
,
Tame Impala
,
Rodrigo y Gabriela
,
Bush
,
Ben Folds Five
,
Korn
,
Joan Jett
,
Cheap Trick
,
Skylar Grey
,
Peter Frampton
,
Frank Turner
,
J Balvin
,
Coheed and Cambria
,
Debbie Harry
,
Kraftwerk
and
Jane's Addiction
.
Guitar Center Sessions
is hosted by
Nic Harcourt
, and was created, developed and produced by Guitar Center exclusively on
DirecTV
.
[35]
Guitar Center Sessions
has won several awards, including a
Lumiere Award
from the International 3D Society for the episodes featuring
Jane's Addiction
and
Peter Gabriel
. To celebrate Guitar Center's 50th anniversary, Linkin Park performed on October 24, 2014, with the performance first airing via DirecTV on December 5, 2014.
[36]
At: Guitar Center
web series
[
edit
]
The
At: Guitar Center
web series (formerly
At: Guitar Center
podcast) features interviews and intimate performances with some of the biggest names in music. Some past guests have included
Travis Barker
,
Sevendust
,
T-Pain
,
Joe Bonamassa
,
The Crystal Method
,
Buddy Guy
,
Elmer Bernstein
,
Daughtry
,
Jimmy Cliff
,
Meiko
,
Lee Jong-suk
,
Rza
,
Steve Vai
,
Joe Satriani
,
Brandi Carlile
, and
Minus the Bear
. The podcast is hosted by
Nic Harcourt
and is available on the
iTunes
,
Zune
and
BlackBerry
networks and on the Guitar Center website.
[37]
Connections Made by Guitar Center
[
edit
]
Connections Made by Guitar Center
, a collaboration between 88.5
KCSN
Los Angeles
and Guitar Center, was a weekly one-hour radio program hosted by radio host
Nic Harcourt
featuring new music from both signed and unsigned artists from across the globe and musical spectrum.
[38]
Albums recorded at Guitar Center
[
edit
]
See also
[
edit
]
References
[
edit
]
- ^
"All Guitar Center Locations | Music Instructor & Guitar Store Finder"
.
stores.guitarcenter.com
. Retrieved
April 15,
2023
.
- ^
Nathans, Aaron (May 14, 2011),
"Delaware music stores bracing for national giant's arrival"
,
The News Journal
, retrieved
May 15,
2011
,
Guitar Center, which focuses on the rock-band end of the music business, opened its first store in Hollywood in 1964, just as guitar bands were taking off.
Alt URL
- ^
"Guitar Center 1960s History"
. Guitar Center. November 30, 2015
. Retrieved
August 31,
2016
.
- ^
"Guitar Center 1970s History"
. Guitar Center. November 30, 2015
. Retrieved
August 31,
2016
.
- ^
"Guitar Center 1980s History"
. Guitar Center. November 30, 2015
. Retrieved
August 31,
2016
.
- ^
"The big box comes to music"
.
Forbes
. March 9, 1998
. Retrieved
November 2,
2021
.
- ^
"Guitar Center 1990s History"
. Guitar Center. November 30, 2015
. Retrieved
August 31,
2016
.
- ^
"Musician's Friend"
. Archived from
the original
on September 1, 2016
. Retrieved
August 31,
2016
.
- ^
"Guitar firm, e-commerce to merge"
.
Deseret News
. May 14, 1999
. Retrieved
May 29,
2011
.
- ^
"Find Local Contractors - Home Remodeling Contractors on Ecnext"
.
goliath.ecnext.com
.
- ^
Guitar Center Music Foundation
Archived
July 20, 2006, at the
Wayback Machine
- ^
"Guitar Center Buys Hermes Trading Co. - Multichannel Merchant"
. May 23, 2006.
- ^
"Guitar Center Accepts Bain Bid"
,
The Wall Street Journal
(fragment), June 28, 2007
- ^
"Losing a Friend"
.
Mail Tribune
. April 28, 2011. Archived from
the original
on January 9, 2016
. Retrieved
October 18,
2011
.
- ^
"Bain Capital's Guitar Center hits rough patch"
,
Reuters
, June 12, 2013
- ^
"Ares Management Gains Control of Guitar Center"
,
The Wall Street Journal
, April 3, 2014
- ^
"Guitar Center plans major store expansion to fight off indies, Amazon"
.
Fortune
. August 7, 2014
. Retrieved
August 31,
2016
.
- ^
Horgan, Richard (August 1, 2014).
"Moving into the Old NYT Building: Guitar Center | FishbowlNY"
.
Mediabistro
. Retrieved
August 31,
2016
.
- ^
Leonard, Devin (August 6, 2014).
"Eric Clapton's $1 Million 'Blackie' Guitar Moves to Times Square"
.
Bloomberg BusinessWeek
. Archived from
the original
on August 6, 2014
. Retrieved
August 31,
2016
.
- ^
"Eric Clapton's 'Blackie' | 20 Iconic Guitars"
.
Rolling Stone
. May 23, 2012
. Retrieved
August 31,
2016
.
- ^
Linnane, Ciara.
"Will Guitar Center be overwhelmed by its debt?"
.
Marketwatch
.
- ^
Katherine Doherty; Niluksi Koswanage (November 14, 2020).
"Guitar Center Expects to File for Bankruptcy After Debt Plan"
. Bloomberg L.P.
- ^
Diegel, Mike.
"Guitar Center Plans to File for Chapter 11 Bankruptcy"
.
Source of the Spring
. Retrieved
November 18,
2020
.
- ^
Alexis Benveniste (November 22, 2020).
"Guitar Center is filing for bankruptcy"
. CNN
. Retrieved
November 23,
2020
.
- ^
Unglesbee, Ben (December 18, 2020).
"Guitar Center exits bankruptcy"
.
Retail Dive
. Retrieved
September 9,
2021
.
- ^
Guitar Center Legends Collection
Archived
November 22, 2008, at the
Wayback Machine
- ^
"Guitar Center Displays Its Iconic 'Legends Guitar Collection' at Northridge and San Bernardino Stores"
.
Guitar Player
. June 18, 2008
. Retrieved
August 31,
2016
.
- ^
"Eric Clapton Announces 2013 US Tour and Fourth Crossroads Guitar Festival"
.
Guitar World
. November 19, 2012
. Retrieved
August 31,
2016
.
- ^
"Guitar Center Legends - U2's the Edge's 1975 NYD Gibson Les Paul"
. Retrieved
August 31,
2016
– via Facebook.
- ^
"Guitar Center Launches Its 25th Annual Drum-Off Competition"
.
Modern Drummer
. August 1, 2013
. Retrieved
August 31,
2016
.
- ^
"Drum Off"
. Guitar Center
. Retrieved
August 31,
2016
.
- ^
a
b
"List of all the rockwalk/inductees"
. Guitar Center's Hollywood Rockwalk. Archived from
the original
on September 28, 2010
. Retrieved
July 12,
2011
.
- ^
a
b
"James Brown Inducted into Rock Walk in Hollywood"
.
Jet
: 55. June 22, 1992.
- ^
"RockWalk Honors BMI Blues Legends"
.
BMI.com
. April 7, 2005
. Retrieved
November 17,
2020
.
- ^
"Guitar Center Sessions"
. Guitar Center
. Retrieved
August 31,
2016
.
- ^
Kindred, Kathy (September 17, 2014).
"Guitar Center celebrates 50th Anniversary with Linkin Park concert premiering exclusively on DirectTV"
.
LinkedIn
.
- ^
"At: Guitar Center podcast"
. Guitar Center. Archived from
the original
on July 1, 2013
. Retrieved
August 31,
2016
.
- ^
"Connections Made by Guitar Center"
. Guitar Center. December 20, 2014. Archived from
the original
on June 4, 2012
. Retrieved
August 31,
2016
.
External links
[
edit
]