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Average music spending 21,000 pounds

The average person spends around 21,000 pounds on music during their lives, research has suggested. The figure includes the amount spent on equipment and concert-going as well as music on CDs and records.

Music enthusiasts are likely to spend more than double that, parting with just over 44,000 pounds in a lifetime, according to insurer Prudential.

The survey, carried out for the company by TNS, involved 1,188 people quizzed during September.

The average person owns 891-pounds-worth of equipment to play music on and spends around 425 pounds each year on CDs, gigs and magazines.

Seven out of 10 people go to a musical event every year, with nightclubs most popular among the under-34s, while people aged over 55 prefer concerts and musicals.

Some 50% of those questioned, claimed they did not spend money on music, yet still managed to splash out 250 pounds a year.

Prudential director of marketing Roger Ramsden said: "Most people would describe themselves as a music fan of some sort or another, but what is really amazing is just how much money people find themselves spending on it."