Music may have got them there but it took more than that to make the Forbes’ “The World’s Highest-Paid Musicians 2013” list. Diddy ranks #12 on the list with earnings of $50 million, according to forbes.com. Sean Combs pulls in much of his money through his Ciroc vodka. Jay Z lands at #19 with earnings of $42 million and Dr. Dre earned the #21 slot with $40 million, the story says.
Madonna is the highest paid musician, earning more than $125 during the last year, Forbes says. The singer made the majority of her income came from her “MDNA Tour,” which grossed $305 million, forbes.com says.
“With touring being the biggest revenue stream, if there’s an opportunity for an artist to go out, if there’s an opportunity for a promoter to curate a festival, people are doing it,” Kevin Liles, a former Def Jam Recordings executive who now manages Big Sean, Trey Songz and others, said to forbes.com.
Forbes says it compiled its list by looking at income earned June 1, 2012 through June 1, 2013. It says it used such sources as Pollstar, the RIAA, Nielsen SoundScan and music industry insiders to compile data, while also considering concert ticket sales, music royalties, merchandise sales and endorsements, among other revenue streams.