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One other factor that seems to be ignored here: Set replacement.
Before 1965, when an existing TV set was deemed "spent" (i.e., not worth repairing in the eyes of its owner), the typical owner would note that color sets were far more expensive, needed more repairs, that most programs were black-and-white, and a new black-and-white set would still be as useful as it had been forever (they will still work in 2016, provided a converter box, with the added benefits of remote control and all-channel tuning).
Thus, all but the wealthiest viewers, and real TV fans, would replace their 1951 Muntz with a 1964 Zenith B&W.
Just a few years later, the number of people who bought their sets in the mid fifties went from a trickle to a flood, right around the same time that the big three networks went to full-color schedules. Household income was also higher as prices were reasonable (the percentage of households with discretionary income had reached an all-time high and after a few years started falling ever since).
The "chicken-and-egg" paradox had been broken.
Last edited by Robert Grant; 07-16-2016 at 01:00 PM.
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