Beyonce named as highest earning woman in music

Beyonce has been crowned as the highest earning woman in music this year by Forbes magazine.

The 33-year-old singer, who surprised the world by secretly releasing a new album on iTunes at the end of 2013, and earned an estimated $115 million (£71.8m) from her record sales and world tour and On The Run tour with husband Jay Z.

In second place is Taylor Swift, who earned an estimated $64 million (£40m) and has just released the fastest selling album of the last 12 years with 1989, which many have heralded as the best pop record of the year.

Pink came in third with $52 million (£32.7m) after playing an 85 concert tour, in which she reportedly raked in $1 million per city.

Rounding out the top five are Rihanna, who earned an estimated $48 million (£30m) and Katy Perry, who earned $40 million (£30m).

The list was compiled by estimating pre-tax income for the 12 months to June 2014 based on record sales, concert tickets, touring information, merchandise sales, and interviews with managers, lawyers, and promoters.