Irish-British boyband One Direction is now en route to breaking a new record, heading towards a net worth of $1 billion.

According to "back of the envelope calculations" done by the Business Insider website, it is projected that the pop sensation will be the first billion dollar boyband once 2014 is on the books.

A breakdown of the billion according to Business Insider lists concert sales as accounting for over 50% of their total revenue. The band's 2013 tour has had around 120 shows, averaging around 12,500 fans per show. With ticket prices hovering around $100, the gross revenue of the tour equates to about 187,500,000.

This is without accounting for secondary sales. After this, the band will take a 7-month hiatus before they launch their 2014 tour in Santiago, Chile next May. Only 12 dates have been yet announced for this tour, but with a statement that more will follow.

"If we assume that the 2014 tour is half the size of the 2013 tour, that would be approximately 60 dates... the 2014 tour, titled "Where We Are" is a stadium tour. This means the average capacity will be around 60,000 people each show."

With the higher anticipated audience numbers in 2014, this smaller tour stands to generate around $270 million. These two tours' gross combined weighs out to a total of $457.5 million.

1D's label says that they have sold 30 million records to date, and at an average rate of roughly $9.99 per album, the gross comes out to just shy of $300 million.

On August 30th, the band will release their 3D movie "This Is Us." Projected revenue expectations for the film are based off of Justin Bieber's movie Never Say Never, which earned 125 million in combined box office and DVD sales. Business Insider tacks another 25 million onto that for 1D "because, with five member of the band, there's just more to pay for."

One Direction's DVD "Up All Night: The Live Tour" sold over 1 million copies total at an average price of roughly $15. This adds up to another 15 million in revenue.

All these numbers round out to $932.5 million, and the website figures that the remaining gap to $1 billion will be made up by the sale of 1D swag like backpacks, t-shirts, etc. This also includes a new fragrance from the boyband called "Our Moment" which is slated for a release later this month.

Individual net worths for the boys in the band vary, but they generally are around $19-$25 million apiece.

All said and done, the band can be expected to become the first-ever billion dollar boyband in history, after which they can fade into the pop culture background along with every other boyband that has ever been.