The Year’s Top-Earning Musicians

Even in today’s economy, musicians – at least top acts – are making more money than ever. According to Forbes earnings estimatesMadonna, who tops their list, has hovered between $40 million and $50 million dollars in annual earnings since 2002. In the last year, a sold-out worldwide tour, impressive international sales of her latest album, Hard Candy, and lucrative endorsement deals put her earnings at $110 million.

In the last 12 months, the top 10 musicians earned a combined $719 million, up from $500 million during the same period ending June 2008. The main reason for the industry’s lucrative adjustment: big shows at steep prices. According to concert industry analyst Pollstar, 10 single shows grossed more than $10 million in 2008 (Madonna at Madison Square Garden, Billy Joel at Shea Stadium, Celine Dion at Montreal’s Bell Centre, etc). In 2007, only four shows had reached that level.

Ticket prices climbed $5.26 dollars on average, to $67.33, the biggest single-year increase in 15 years. As a result, gross revenue for the top 100 touring acts was up 6.5% year over year, to $2.4 billion, though there were 5% fewer shows. For big-ticket acts that can fill international arenas, selling a single concert ticket now earns them $20 on average, while selling one physical album puts just $1 in their coffers. Of course, musicians also benefit from merchandise sales while on tour.

To compile the list of the year’s top-earning musicians, Forbes considered earnings from album sales, touring, publishing and endorsement deals during the period from June 2008 to June 2009. Sources include Billboard, Pollstar, and Nielsen SoundScan.
The list has a preponderance of established acts. Bruce Springsteen and AC/DC have been recording and touring for over three decades. The Eagles returned after a 20-year recording hiatus. These expansive careers produce fans of all ages that can fill thousands of seats per gig and a large catalog of hits that keep shows eventful.

Source: Forbes.com.