For all you aspiring musicians out there..read below to see how the top ten earners in the world of music are making their fortune…
The results are in for the world’s top earning musicians and according to Forbes.com, U2 sit right at the very top for the past financial year (July 2009-June 2010). The US finance website compiled its list based on net income from ticket sales, merchandising, record sales and endorsement deals.
U2 earned US$130 million (AU$148.1 million), making the most of their money from their 360° tour, despite the fact it costs US$750,000 (AU$854,500) per show to produce.
AC/DC came in second with US$114 million (AU$129.8 million) mostly from their world tour, as well as sales from back catalogue and the Iron Man 2 soundtrack.
Beyonce Knowles came in third with US$87 million (AU$99.1 million), beating her husband Jay Z with US$63 million (AU$71.7 million) who came in at #6. More than half of Beyonce’s earnings came from endorsements with companies like Nintendo and L’Oreal and from her growing Doreon fashion line. Jay-Z’s investments include the 40/40 nightclub chain, the Broadway show Fela! and the New Jersey Nets basketball team.
Bruce Springsteen and the E Street Band (US$70 million / AU$79.7 million) and Britney Spears (US$64 million / $72.9 million) rounded out the top five. For Spears it marks the end of an era where she suffered a public meltdown and returned to the charts with her sixth album Circus which sold 3.5m worldwide, and a successful world tour. On July 1, her new ‘edgy yet girly’ fashion line for Candies hit the shops in America.
Lady Gaga, at #7 with US$62 million (AU$70.6 million), is the first from the YouTube generation. She made her money from a 106-date tour, record sales and marketing deals with Polaroid, Virgin Mobile, Monster Cable and Viva Glam. Gaga’s found success by sounding like early Madonna, but she rubbed it in by overtaking the Material Girl on the list, at #8 with US$58 million (AU$66 million).
The list rounds off with country superstar Kenny Chesney at US$50 million (AU$56.9 million), and Black Eyed Peas and Coldplay tying at #10 with US$48 million (AU$54.6 million).
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