Taylor Swift has been named as the highest-earning musician of 2014.
The pop singer has topped Billboard‘s annual list of music money makers, taking back a title she held in 2012 but relinquished to Madonna in 2013.
The singer earned $39.7m (£23.8m) in 2013 from music sales, royalties and touring, the publication says. In second place was country singer Kenny Chesney, who earned $32.9m (£19.8 million) and Justin Timberlake with $31.5 million (£18.9 million). Bon Jovi and The Rolling Stones also made the top five.
Swift’s Red world tour was worth an estimated $30m (£17.9m) alone. Her album sales were eighth in the list of best-selling albums in the US last year, while she had 10 million US downloads and came fifth in streaming royalties.
The study was compiled data from Nielsen SoundScan, Nielsen BDS and Billboard Boxscore, using standard fees and formulas to work out royalties or management fees.
The rest of the top 40 featured acts including Mumford & Sons, Kanye West, Jay Z, Eminem, Rihanna and Justin Bieber.
Billboard’s top 10 music money makers of 2013
1. Taylor Swift – $39.7m (£23.8m)
2. Kenny Chesney – $32.9m (£19.8m)
3. Justin Timberlake – $31.5m (£18.9m)
4. Bon Jovi – $29.4m (£17.7m)
5. Rolling Stones – $26.2m (£15.8m)
6. Beyoncé – $24.4m (£14.7m)
7. Maroon 5 – $22.3m (£13.4m)
8. Luke Bryan- $22.1m (£13.3m)
9. Pink – $20m (£12m)
10. Fleetwood Mac – $19m (£11.4m)