Sales of Vinyl records hit $177 million last year, their highest level since 1997, according to the IFPI’s latest report.

Physical music sales declined by almost 5% to $9.4 billion. About 833 million CDs were sold last year, down on 910 million in 2011 and 2.4 billion sold in 2000.

Cassette tapes took the biggest knock, with two million sold last year - down from five million in 2011.

Streaming services now account for 20% of global digital music revenues with their ...