- Steinway & Sons builds 5,442 pianos (the highest number since before the WWII, 21 pianos more than in 1966; notwithstanding the relationship problems between Steinway & Sons and CBS management).
- However, Steinway & Sons profit is 6% below the budget planned by CBS Music Division: the sales of the new Steinway & Sons pianos are slipping.
- At the same time, the used Steinway & Sons repair and sales business is booming. Even the Juilliard School offers the commercial service in repairing used Steinway & Sons pianos.
- Grotrian-Steinweg forms the Grotrian Piano Company – a subsidiary brand for selling pianos in North America.