New York, NY (May 3, 2024)—A mainstay of the MI and pro-audio retail sector for 100 years, Sam Ash Music announced yesterday that it will close all its physical retail locations. The move comes on the heels of the company closing 18 Sam Ash stores in March.
On its social media channels, Sam Ash Music noted,
“It is with a heavy heart that we announce that all Sam Ash Music store locations will begin store closing sales today. This unfortunate news also presents a fantastic opportunity for great deals across our premium selection of musical instruments & pro sound equipment. We will also be offering specials on SamAsh.com during this time. Thank you for allowing us to serve musicians like you for 100 years. With much love and deep gratitude, The Ash Family.”
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Sam Ash Music was founded a century ago by Austrian immigrant Sam Ashkynase, launching his Brooklyn, NY store with $400 raised by pawning his wife Rose’ engagement ring. Surviving the Great Depression and shifting trends in music, the company hit its stride in the 1950s and 60s with the advent of rock ‘n’ roll, which led to the rollout of new locations, including in Manhattan on 48th Street’s famed Music Row, where Sam Ash bought up various small storefronts as they became available until it had seven locations on the same block. Family-owned to this day, the brand continued to grow in the intervening decades, making Sam Ash Music a coast-to-coast national chain.
The company’s move to what is widely expected to be an online-only business model is indicative of the challenges faced across the musical instrument retail industry. According to research firm IBISWorld, physical MI retailers have seen a continual revenue drop over the last 10 years, a move exacerbated by the pandemic, which it estimates caused a 15.2% fall in revenues industry-wide while online sales exploded. Ironically, the global musical instrument market is expected to only grow in the coming years, rising from an estimated $19.25 billion in 2023 to $24.53 billion by 2030, according to Fortune Business Insights.
A closing date for the retail locations has not been announced.
