The retro physical format continues to have an impressive comeback.
Vinyl records' unprecedented resurgence is predicted to continue this year. The physical format will rake in $1 billion globally in 2017, according to consultancy Deloitte in a new Financial Times report. The figure includes sales of 40 million (!) records as well as turntables and other "related products."
Despite these impressive projections, a Deloitte exec doesn't expect the trend to continue. "In 1981, over 1bn albums were sold. In 2017 it will be around 40m. This is not the resurgence that is portrayed. It is a blip,” said Paul Lee to the Financial Times.
Regardless of what happens in the future, vinyl records are bringing in some significant revenue to the music industry. In the age of streaming music, that's a pretty impressive feat.
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