Is Gibson Going Down? What This Means for Bass Players

Gibson shook the music industry when it filed for Chapter 11 bankruptcy protection in May 2018. In the past years, Gibson acquired a number of audio equipment and consumer electronics companies with the aim of becoming a one-stop-shop for all things music. From Gibson Guitars, it’s now Gibson Brands Inc., a “music lifestyle” company.

However, things didn’t quite work out as planned – it would seem that Gibson bit off more than it could chew. The result of Gibson’s efforts toward diversification is a staggering debt of $500 million.

What’s up with Gibson now and what how will the company’s status impact musicians, particularly electric guitar and bass players who rely on Gibson instruments for their career? Let’s take a look.

A return to traditional guitars?

In June 2018, Gibson CEO Henry Juszkiewicz told reporters that the company plans to return to simply making traditional guitars. He said he was examining ways the company could expand its appeal to entice younger players as well as female players. Juszkiewicz, who led the company from the 1980s, added that Gibson would also consider manufacturing ukuleles again.

The company’s plans of going back to basics is the complete opposite of its 2015 plans, which saw the company fitting guitars with computerized tuners, something that many guitar players frowned upon. The automatic tuning and other design changes in Gibson’s guitars put many of the company’s longtime customers off. Many Gibson fans have complained of a decline in the quality of the company’s products.

Gibson is known for its high-quality yet pricey guitars, which many musicians really save up for. But now, it seems that Gibson guitars have lost their appeal, and players have started to look elsewhere. There are many great electric and bass guitars under $1000 that perform just as well as a Gibson, anyway.

In August, it was reported that Gibson was looking for a new CEO. At the end of October, the company announced it has picked out a new leadership team, with James “JC” Curleigh at the helm. Curleigh is the president of Levi’s and is slated to begin his work with Gibson in November.

A reemergence of a troubled brand

Gibson has been completely restructured, the consumer electronics business has been liquidated and the company is on track to refocusing around its core business of top-notch musical instruments.

In September, Gibson introduced a simplified electric guitar lineup for 2019. Gone are the automatic tuning pegs, so it’s clearly a return to its roots. Will the move be enough to win customers back, or have players completely lost faith in the company? We guess we’ll see how everything goes in the next few months with the sales of the new lineup.

For electric guitar and bass players, what this all means is that we could be seeing more new models designed and manufactured like the Gibsons of old. The company still has to work on making its guitars more affordable though, but then again one can say that the high-end price tag is part of what makes Gibson a Gibson.

It may be a good idea not to rush into buying a new Gibson just yet. For now, it’s best to check out old electric guitar stocks and less expensive bass guitars or wait until the company comes up with new models that are truly worthy of the Gibson name.