Boy band One Direction are set to double their net worth to £64m over the next 12 months, according to industry experts.

The five-piece – who were formed during The X Factor 2010 – finished third in the final but have become the most successful act to emerge from that series, with their estimated earnings already topping £32m after topping the charts both in the UK and abroad.

However Nick Gatfield of Sony Music UK – who distributes the band’s material via Syco Records in the UK and Columbia in the US – told the Mirror, “We fully expect to double that figure next year.

“The team around them including musicians, stylists, producers, tour managers and so on, is 90-strong. That’s 90 jobs created by these five boys.”

The lads – Liam Payne, Louis Tomlinson, Niall Horan, Harry Styles and Zayn Malik – have already been investing their money, reportedly splashing out on new properties.

Zayn – who is currently dating Perrie Edwards from the show’s 2011 champions Little Mix – has bought a new house believed to be worth £2.2m, while both Louis and Harry have now bought homes in London.

The band are currently on a world tour, which finishes in July, and will hit the road again early next year with plans to play dates at London’s O2 Arena in February.