Vinyl sales are at a 25 year high and according to one report they ll continue to grow this year.
Deloitte vinyl records.
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This year approximately 40 million new vinyl records will be sold generating roughly 800 million according to a forecast by deloitte global.
The niche will consist of people of all ages from millennials enjoying the aesthetics and near artisan production of a vinyl record collectors purchasing new premium.
With the addition of used vinyl discs record players and accessories global revenue from vinyl related products is expected to reach nearly 1 billion in 2017 deloitte global predicts.
Further cooling things deloitte also says that vinyl records will never be the main event.
Deloitte global predicts sales of vinyl records and accessories will reach an estimated 1 billion in 2017 making up about 6 percent of global music revenues.
Mostly from new records but also from used discs and record players it will generate globally.
Instead wax will always play second fiddle to digital which is at the start of its own mega explosion.
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Of all physical music sales 6 of all recorded music revenues deloitte predicts deloitte refers to one or more of deloitte touche tohmatsu limited a uk private company limited by guarantee dttl its network of member firms and their related.
This would be the first time they ve been that high since the turn of the century.
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Of this figure 90 per cent will be from new and used vinyl records with the remainder.
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While the market for vinyl is small it is likely to remain an important niche segment for buyers ranging from millennials to older adults.
Deloitte predicts that sales of vinyl records turntables and accessories will approach 1bn 800m globally this year.
The practice consists of professionals with extensive practical and consultative experience in the field of records management.
Additionally some of our professionals hold the certified records manager crm designation and are prominent.
According to deloitte new vinyl records and revenue will enjoy a seventh consecutive year of double digit growth in 2017.