Records Hitting Record Sales, Vinyl Industry Expected to Hit $1 Billion in 2017

CHARLOTTE -- For the first time since the 1980s, vinyl records sales are projected to reach $1 billion in 2017.

New research completed by Deloitte finds sales of vinyl have steadily increased over the last several years.

This year, they are projecting more than 40 million albums will be sold thanks to a new generation of fans.

“You know the convenience of an MP3 can’t really be beat but i think there’s something very almost cathartic to the process of actually putting physical media, physical music on a turntable and hitting play,” said music lover Henry Pittman.

Even though records are projected to hit the $1 billion mark, this year Deloitte's research also found those numbers account for only about six percent of the total music industry revenues.