Music Advent 2021 - Day 21 - A Christmas Carol, Side 3
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In 1924, after 5 years of nearly exponential growth, the Victor Talking Machine company nearly went bankrupt. The introduction of radio as a mass media coupled with "talking machine exhaustion" led to dwindling sales and warehouses nearly overflowing with gramophones. In 1924 and 1925 Victor had a very famous "half price sale" which saved the company from ruin. Many of the gramophones that were sold were bought as Christmas gifts, and it's estimated that a lot of them were never used and were ultimately discarded.
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