Records are actually a very very long-lasting information storage medium, better than magnetic tapes (even when you put redundancy checks on them). So much that sometimes when music from the 1940s to 1960s is to be restored, restauration experts use the record rather than the master tape, which is more subject to degradation.
As for degradation, in theory there is degradation every time the record gets played. In practice tests done in the 60s show that records can be played over 1000 times without significant deterioration of audio quality.
However, the record surface is very susceptible to damage. This means that, play a record over a worn stylus, or under a turntable with a too heavy tracking force or a poor quality cartridge -in short, a bad turntable-, and the record will wear down rather quickly, sound quality will be degraded quickly.
Or, as is my experience, a piece of debris is missed when putting the record away, and scratches the surface significantly when put into its (usually too-tight-fitting) sleeve and cover.
As for degradation, in theory there is degradation every time the record gets played. In practice tests done in the 60s show that records can be played over 1000 times without significant deterioration of audio quality.
However, the record surface is very susceptible to damage. This means that, play a record over a worn stylus, or under a turntable with a too heavy tracking force or a poor quality cartridge -in short, a bad turntable-, and the record will wear down rather quickly, sound quality will be degraded quickly.