Report Shows Average Person Spends £21K, $37K, On Music

(CelebrityAccess MediaWire) — A British report released this week shows that the average person spends around £21,000, or approximately $37,000, on recorded music, live concerts and music equipment during their lives.

Music enthusiasts are likely to spend more than double that, parting with over £44,000, or close to $78,000, in their lifetime, according to the survey taken by Prudential Insurance.

The average person owns £891, or $1,577, worth of equipment to play music on, and spends an average of £425, or $750, per year on CDs, concerts and magazines.

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

Almost 50% of those questioned in the survey claimed they did not spend money on music, yet still managed to shell out £250, or $440, per year.

Prudential’s director of marketing Roger Ramsden said in a statement: “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.” –by CelebrityAccess Staff Writers