First day receipts of TAYLOR SWIFT's new album RED suggest the country singer is on course to debut at number one in the with sales of over one million.

Billboard.com insiders claim the Love Story singer sold in excess of 500,000 copies of her new release on Monday (22Oct12), while industry experts predict she'll smash Mumford & Sons' first-week sales record at the iTunes Music Store.

The British folk act scored the feat just three weeks ago when their new album Babel opened with 390,000 download sales.

Swift's last album Speak Now debuted on the Billboard 200 chart almost two years ago (Nov10) with just over a million first-week sales, and only one other artist has managed to top those sales - Lady Gaga entered the countdown at number one with 1.1 million sales of Born This Way last year (11).

Only 17 albums have opened with sales of one million or more in the modern era of the charts.