Average music spending '£21,000'

The figures include music magazines as well as CDs

The average person spends around £21,000 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 in a lifetime, according to insurer Prudential.

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

Nightclubs popular

The average person owns £891-worth of equipment to play music on and spends around £425 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 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."