Record industry (great depression)

Around 1929, the world had to face the crisis of The Great Depression which was a worldwide economic collaspe. It was actually centered in North America and Europe, but had devastating effects around the world, particularly in industrialized countries and producers of raw materials. So did the music business, American record companies, which had sold more than 100 million copies a year in the mid-20s, were soon selling just six million. Most of them went out of business. However, in the mid-30s, as the Great Depression stubbornly continued, jazz became America's popular music at that time. It had a new name as ‘swing’ and its impact was very strong and revolutionary. ‘Swing’ or ‘jazz’ had saved the recording industry. In 1932, just 10 million records had been sold in the United States. But by 1939, that number grew to 50 million. Swing which had grown up in the dancehalls of Harlem became the new definition of music for an entire generation of Americans.