By the end of the year there are 200 radio stations and three million radios in American homes . . . More than 100 million records are produced and Americans spend more money on recorded music than on any other mode of entertainment. Banner, Brunswick, Cameo, Paramount, and Perfect record companies are founded . . . Erskine Tate are on the road. Oriole Label commences .
Severe recession strikes the record business.
Columbia goes into receivership in October. 1924 Victor goes into a slump. Will Osborne, Art Kassel , and Red Nichols start their bands . . . There are now 694 radio stations in operation. 1925 Victor, and a revived Columbia, buy into the Western Electric system.