In fact the Audio Industry is totally under capitalized as compared to almost every other luxury industry. If you look at the ability to advertise and promote the numbers are so miniscule as to be almost irrelevant. It may be the love and hobby of all on this site and all who read and watch videos however those numbers at most represent such a small portion of the population as to be statistically meaningless.for context....
autos are BIG business. i'm part of a local dealer group that advertises in my local market for Honda. it's tier 2 (Tier 1 is the manufacturer, tier 3 is the dealer). there are almost 200 said groups just for Honda in the USA for every local market. our local ad budget (based on a fee per car sold in our market) is $6m-$10m per year. that's probably similar to all of the world wide hifi ad dollars combined. and this is only tier 2 in part of one small state out of 50 for one auto manufacturer in the US. every manufacturer has a similar arraignment.
auto reviews? not relevant at all.
hifi is hardly a rounding error in comparison, and that's being kind to hifi. most hifi consumers, even those identifying as an audiophile, don't go to hifi shows. maybe the 'influencers' do mostly. the most invested 5% or 10% might. if i go to my local audio club meeting maybe 3-5% go to shows.
others are getting their info at dealers, or on line forums or reviews, or word of mouth. especially at the entry level. so each of these info streams carry considerable weight and matter as to how products get recognition.
bottom line; it takes effort and intention to get educated about hifi, the info does not get forced on you. so the degree of effort expended, and relative truth attained, is as variable as people are. with cars you are bombarded everywhere from every direction. unless you live under a rock, car info is part of your subconscious.
We once did a series of exit interviews around NYC at fine shops and restaurants to see what if any people new the names of high end audio brands and to be honest it was very funny. Virtually no one named anything that would be carried by a place like Lyric ( which is where i was and we did this exercise) . Think about this the whole world knows the names of almost every car, watch, clothing, appliance etc in the high end.
Audio basically not at all. Sad but true. Today we live in a branded world and the brands of audio have not yet ( being optimistic here) reached anywhere near these other luxury products.
What is the total circulation of all these publications worldwide?
I would guess that the gross revenue of the Honda dealers in the state of Washington would exceed the total of the entire US High End business easily.