March 06, 2010

In music, success can be measured by many yardsticks: Billboard No. 1s, Grammy Awards, AA medallions. But as acts from Barrett Strong to Pink Floyd to Sean "Diddy" Combs have testified in song, when you come right down to it, it's all about the benjamins. The fourth edition of our annual countdown of music's highest earners finds wide-eyed youngsters—Kings of Leon, Taylor Swift—rubbing elbows with their well-heeled elders—Bruce Springsteen, Fleetwood Mac.

As the music industry grows ever more complicated, so does our top-secret* Money Makers formula—comprising, among other variables, monies earned from CD and digital sales, publishing royalties and all forms of streaming. But one thing remains constant: Touring is the prime fattener of bank accounts, as evidenced most dramatically in the eye-popping, chart-topping tally of high-end road hog U2. *OK, not really top-secret. See inset on page 20 for a quick tutorial.



U2 $108,601,283

Midway through what is destined to be the highest-grossing tour in history and still a top album seller on a global basis, U2 remains the biggest band in the world. Its 360° tour is the group's first under a 12-year multirights deal with Live Nation that includes worldwide touring, merchandising and the band's lucrative U2.com Web site, a digital distribution gold mine for all things U2. The act's current global stadium tour is the most expensive ever mounted—the daily nut is said to be $750,000—but those costs are well offset by the highest capacities ever from the band's 360-degree configuration. Revenue from the Live Nation deal is performance-based and thus hard to pin down, but by even the most conservative estimates U2 was far and away the top revenue generator in music last year. Songwriting credits are presented in different ways, often shared between the band and its producers, but all songs are created "in-house" and the bulk of publishing revenue stays within the U2 fold. This is a fully realized music-business machine, tapping into all of our indicating sources. —Ray Waddell

2. Bruce Springsteen $57,619,037

With a new studio album, a Walmart-exclusive hits compilation and a relentless touring schedule, Bruce Springsteen was at the top of his revenue-generating game in 2009. Springsteen's profile has never been higher, with added-value exposure from the Super Bowl halftime show, Kennedy Center Honors and even a run-in with Ticketmaster all keeping the Boss in the public eye. Full-album shows at the tail end of the tour provided box-office muscle, and all the event-specific T-shirts from those shows surely boosted his merch per cap at concerts. Springsteen was also a force at retail and on the digital sales front, with more than 2 million tracks downloaded. And since he writes all his own songs, publishing revenue stays at Camp Bruce. Remarkably, Springsteen Inc. is peaking more than 35 years after his debut album. —RW

3. Madonna $47,237,774

Like U2, Madonna toured for the first time under a long-term multirights Live Nation deal (hers valued at $120 million), and also like U2 it's a performance-based pact. Madonna delivered: Her Sticky & Sweet tour tacked on a "victory lap" run of international stadium dates that solidified the trek as the highest-grossing tour ever by a solo artist. Obviously, Madonna tours aren't cheap, but with ramp-up costs absorbed in 2008, the coda to Sticky & Sweet was pure gravy. Madonna's CD sales were well off the pace of her peak hitmaking years, but still more than respectable at physical and digital. Because her songs come from a wide range of writers, the publishing pie is pretty well-sliced. But her branding, licensing and merch efforts are among the most diversified and lucrative in the music business. —RW

4. AC/DC $43,650,466

Although the overwhelming majority of AC/DC's 2009 earnings came from touring international arenas and stadiums (it pulled in $41.4 million from concerts and ranked No. 4 on Billboard's 2009 tally of the top 25 highest-grossing tours), the Australian rockers also experienced consistent album sales from their catalog. Indeed, the group's highest-selling album was its 2008 Walmart exclusive, "Black Ice," which shifted 227,000 copies. But coming in at a close second was the classic "Back in Black," with 215,000 copies. AC/DC is one of the few consistently strong-selling catalog acts, and six other past releases sold 60,000 apiece. In total, the group sold 1.1 million albums in 2009. —Mitchell Peters

5. Britney Spears $38,885,267

It seemed unlikely that Britney Spears could ever recover professionally from a series of bizarre events that led up to her 2008 "Circus" CD. But the album bowed atop the Billboard 200 in December of that year, and the pop star's success continued into 2009 with an arena tour that earned her $36.4 million and album sales that totaled 763,000 copies. "Circus" represented the largest chunk of those sales, with 535,000 units. But her "Singles Collection," released last November on Jive, shifted 107,000 copies. Digitally, Spears sold 7.5 million downloads; the largest seller was the racy Max Martin-produced single, "3," which moved 1.6 million downloads. —MP

6. Pink $36,347,658

Even before she lofted herself onto a trapeze at the MTV Video Music Awards, Pink was already having the best year of her career. She officially shook her underdog status in 2008 with the release of "Funhouse," but 2009 vaulted her to new heights thanks in part to an international arena tour, which netted her $35 million. While Pink's album royalties are still eclipsed by her peers in the top 10, she tallied $535,000 in digital track royalties. Moreover, Pink's show-stopping 2010 Grammy Awards performance of "Glitter in the Air"—and the track's subsequent 1,143% digital sales increase—means that her funhouse is still open for business. —Monica Herrera

7. Jonas Brothers $33,596,576

The Jonas Brothers released their fourth studio album, "Lines, Vines and Trying Times" (Hollywood) June 15, debuting at No. 1 on the Billboard 200 and setting up the boy band for another fruitful year of album sales and touring. The act racked up almost $1.3 million in CD royalties; the group's writer's share of mechanical royalties came to $405,000. The band's world tour netted them $31.4 million and won the group the Eventful Fans' Choice Award at the 2009 Billboard Touring Awards. —Ann Donahue

8. Coldplay $27,326,562

Coldplay didn't let a copyright infringement lawsuit filed by guitarist Joe Satriani dampen its spirits last year. Despite the legal turmoil (the two parties settled in September and the allegations were dismissed), the band earned $24.7 million touring behind its 2008 album, "Viva La Vida or Death and All His Friends," which sold 495,000 copies in 2009. Overall, the group sold 852,000 albums in 2009, bringing in $1 million in revenue. Coldplay's biggest-selling digital track was "Viva La Vida," which accounted for 1.2 million of its 3.8 million overall song downloads. —MP

9. Kenny Chesney $26,581,141

As one of the elite touring artists in the world, Kenny Chesney has sold more than 1 million tickets for seven consecutive years, bringing his country party to North American arenas, amphitheaters and stadiums. In country music, the big ticket sellers also sit atop radio and retail charts, and Chesney is no exception, with physical album sales in the United States running roughly the same as tickets sold. Chesney is a U.S. phenomenon and has yet to translate to international audiences. His digital album sales are solid, with digital track numbers among the highest on this list, and the country star rang up more than half a million ringtones in 2009. Chesney will take the year off from touring for the first time in a decade, but his remarkable run should afford him a nice vacation. —RW

10. Metallica $25,564,234

Metallica had at least two things to celebrate in 2009: its induction into the Rock and Roll Hall of Fame and the release of "Guitar Hero: Metallica." Along with touring revenue—the band pulled in $22.8 million from 55 arena shows reported to Boxscore that drew more than 968,000 fans—Metallica sold 694,000 albums in 2009. The majority of those sales came from its Rick Rubin-produced 2008 release, "Death Magnetic" (297,000), and the remainder came from the prior albums "Metallica" (181,000), "Master of Puppets" (110,000) and ". . . And Justice for All" (106,000). Album sales revenue totaled $1.6 million. And most of Metallica's track download earnings came from its 1991 hit "Enter Sandman," which sold 450,000. —MP

11. Fleetwood MAC $24,751,540

The baby boomer idols land on the list for the first time thanks to the group's $24 million take from its Unleashed tour, its first in five years. The trek grossed $71.2 million from 65 shows reported to Boxscore and landed at No. 14 on Billboard's top tours list last year. Fleetwood Mac earned less than $700,000 in the United States from its album sales, track sales and writer's share on mechanical sales last year, with its 1988 "Greatest Hits" moving 135,000 copies—about half its U.S. album total for the period. The band earned roughly the same amount from digital track sales ($71,100) as it did from digital album sales ($70,200). —Ayala Ben-Yehuda

12. Nickelback $23,674,124

Nonstop touring and continued radio play that spurred album sales were two of the main factors that contributed to Nickelback's success in 2009. The band sold 1.9 million albums, the majority of which came from its most recent release, 2008's "Dark Horse." That set sold 1.4 million copies; its second-biggest seller was 2005's "All the Right Reasons," which sold 252,000. The resulting revenue from CD sales was $2.9 million. And fans didn't stop seeing Nickelback in concert, either. During the year, the group played 73 amphitheater and arena shows (produced by Live Nation) reported to Boxscore that earned it $18.3 million and drew more than 1 million people. —MP

13. Beyoncé $23,658,131

The millions of YouTube views for the "Single Ladies (Put a Ring on It)" video could mean only one thing: Beyoncé continued to reap rewards for her triple-threat artistry in 2009. The singer earned $2.3 million in CD royalties for her latest album, "I Am . . . Sasha Fierce," a total rivaled only by Nickelback in the top 15 of the Money Makers list. The set was just as well-received from a critical perspective—it won six 2010 Grammy Awards, the most ever for a female artist. Beyoncé also netted $952,000 in digital track royalties and $9,000 in on-demand stream royalties, with the latter total topping everyone but Michael Jackson on the list. —MH

14. Elton John $22,141,315

As half of the most successful co-headlining tour in history with Billy Joel, as well as being very active on his own, Elton John again struck box-office gold in 2009. Even without an album of new material, John still moved a quarter of a million physical units in the United States. On much of his catalog, John splits publishing revenue with longtime collaborator Bernie Taupin, and it remains one of the most beloved portfolio of songs in music history. —RW

15. Miley Cyrus $21,285,996

Miley Cyrus is No. 4 on the 2010 Money Makers list in terms of CD royalties with more than $4.3 million; her one new release during the year was the Walmart-exclusive EP "The Time of Our Lives." Her $840,000 in digital track royalties—including the Hot Digital Songs No. 1 "Party in the U.S.A."—places her at No. 5 in that category. Cyrus' Wonder World tour earned her slightly more than $15 million, according to Boxscore. Not included in this tally, but still of note: Her feature-film debut, "Hannah Montana: The Movie," grossed $79.5 million at the box office, according to BoxOfficeMojo.com. —AD

16. Il Divo $20,909,735

The Armani-clad popera quartet lands at No. 16 this year thanks to a global tour promoted by Live Nation. Il Divo's 118 dates in 2009 put $20 million in their suit pockets, with an estimated value of nearly $21 million for the band. That comprises nearly all of Il Divo's take; the act's next-largest source of revenue ($809,300) was physical sales of its albums, nearly half of which came from its late-2008 release "The Promise." Live Nation's deal also covered merchandise, which isn't included in the Boxscore tally. —ABY

17. Dave Matthews Band $20,046,148

No act has sold more tickets in this millennium than Dave Matthews Band, and in 2009 the group also received some serious juice from one of its best-selling albums, "Big Whiskey & the GrooGrux King." The strength of the record's performance boosted DMB back into the company of elite earners. The band's 800,000 Nielsen SoundScan units dwarf the band's 14,788 digital album sales, but it did enjoy more than 2 million track downloads. The impact of a new studio album—DMB's first since 2005—is welcome, but the band's business is still very much driven by touring. The act sits in a coveted sweet spot where box-office success isn't dependent on radio and retail, but can still benefit from both. —RW

18. Andre Rieu $19,468,768

The Dutch violinist and PBS pledge-drive mainstay sold only 59,000 albums but was No. 6 on Billboard's list of top tours last year; his 30th-anniversary trek earned him more than $19 million and brought in nearly 500,000 people to 94 shows in Europe, Japan, North America, Australia and New Zealand in 2009. Rieu has logged 22 releases on Billboard's Top Traditional Classical Albums chart, with three of them in the top 10 last year. Rieu was No. 4 on Billboard's Top Traditional Classical Artists chart for 2009. —ABY

19. Rascal Flatts $17,996,964

It's a safe bet that exposure through sponsorships from Hershey's and JCPenney helped Rascal Flatts sell tickets to its 2009 summer amphitheater tour. Overall, the trio pulled in $14.3 million from 55 concerts that were reported to Boxscore. Indeed, the total gross was enough to land Rascal Flatts at No. 22 on Billboard's 2009 tally of the top 25 highest-grossing tours. The band's 2009 album, "Unstoppable," was also a contributing factor to its success, with 1.1 million copies sold. Digitally, the group sold 4.1 million tracks, earning more than $406,000; its biggest seller was "Here Comes Goodbye" (624,000), which went to No. 1 on the Hot Country Songs chart last April. —MP

20. Michael Jackson $17,301,639

Michael Jackson was the No. 1 earner in CD royalties and ringtone royalties in the 2010 Money Makers tally, with physical album sales pulling in $13.2 million and ringtones totaling $255,000. Jackson's writer's share of mechanical royalties totaled $1.2 million for the year, third to Bob Dylan and Taylor Swift, and his digital track royalties totaled just north of that, placing him right behind the Black Eyed Peas. In addition, "This Is It" became the top-grossing concert film of all time, earning $72 million at the box office, according to BoxOfficeMojo.com. —AD

21. Taylor Swift $17,204,646

At an age when many of her peers are working for minimum wage, Taylor Swift is in the big leagues of earners. Her financial package is well-rounded, and she's one of the few on this list whose income wasn't driven mostly by touring. Swift's debut headlining tour in 2009 was an unqualified success, but touring revenue accounted for less than half of her Money Makers total, and her CD royalties were topped only by Michael Jackson. —RW

22. Depeche Mode $16,035,102

While Depeche Mode's Tour of the Universe trek was briefly put on hold when frontman Dave Gahan fell ill, the group still took in $15.4 million for the world tour, according to Boxscore. The band's album "Sounds of the Universe" earned $300,000 in CD royalties. —MH

23. Billy Joel $15,721,607

Though he hasn't released an album of new material since "River of Dreams" in 1993, Billy Joel's catalog performed well on all fronts. But on the Joel spreadsheet, that's a drop in the bucket; the resonance of his songs, consistent road work and reputation as a top-shelf live performer during the past four decades continue to serve him best. —RW

24. Trans-Siberian Orchestra $14,606,313

Steady sales of its holiday-themed albums during Christmastime aren't the only thing Trans-Siberian Orchestra relies on each year: The band consistently sells out arenas during the nine-week winter season with its over-the-top laser- and light-filled concerts. Last year, the Paul O'Neill-led group sold 815,000 albums and earned nearly $13 million in touring revenue. —MP

25. Kings of Leon $14,421,763

In 2009, Kings of Leon finally broke through in America, selling more than 1.2 million units. KOL also taps into a digital-friendly audience, racking up more than 500,000 album sales and more than 5 million tracks in the format. And it's all about the upside with this band, as it continues to grow as a headliner, netting $9.9 million from touring. —RW

26. Celine Dion $14,326,129

Last year, Celine Dion's take came almost entirely from 23 North America dates on her Taking Chances tour. This is her third year in a row on the Money Makers list; she came in at No. 5 last time, thanks to her residency at Caesars Palace's Colosseum in Las Vegas and her worldwide touring. —ABY

27. Brad Paisley $14,299,322

Established as a hitmaker and an album seller, Brad Paisley has consistently been improving his clout at the box office in the past several years. He's now an arena-level headliner, but Paisley's popularity is due to his songs. Country music isn't especially known for its strength at digital, but Paisley enjoyed close to 3 million track downloads. —RW

28. Keith Urban $14,075,581

Keith Urban scored his first No. 1 on the Billboard 200 last April with his 2009 album, "Defying Gravity." The set sold 723,000 copies and helped him earn $1.4 million in CD sales. The artist's Escape Together world tour, which visited arenas in the United States, earned nearly $12 million. —MP

29. Tina Turner $13,169,806

The 71-year-old artist is still going strong, as evidenced by her Farewell European tour, which earned her $13 million. Turner also scored $116,700 in CD sales. —Mariel Concepcion

30. Lil Wayne $12,866,174

The soon-to-be-incarcerated rap star will be missed by fans and promoters. In 2009 he had the highest-grossing hip-hop tour of the year—and the most lucrative rap trek that Billboard has ever tracked, raking in $10.4 million. —MC

31. Paul McCartney $12,203,170

Although his Beatles take isn't factored into his Money Makers earnings, Paul McCartney did just fine on his own last year, making most of his money ($11.4 million) from playing arenas, stadiums and a headlining slot at Coachella. His latest release, "Good Evening New York City," sold 234,000 copies, contributing to the $609,000 he earned from album sales. —MP

32. Green Day $12,152,004

Green Day had two major highlights in 2009: the release of its second No. 1 album, "21st Century Breakdown," and a sellout run in Berkeley, Calif., of the musical stage show adaptation of 2004 set "American Idiot." All of the buzz helped the band earn nearly $1.9 million in album sales and pull in $8.8 million from touring arenas. —MP

33. Toby Keith $11,941,345

Stateside fans weren't the only ones treated to Toby Keith's Ford-sponsored tour in 2009—the artist also played his first European trek in support of his latest album, "American Ride," which sold 295,000 copies and debuted at No. 1 on the Top Country Albums chart. Touring revenue totaled slightly more than $10 million. —MP

34. Kiss $11,833,930

Kiss spent 2009 on the road promoting its highest-charting album, the Walmart exclusive "Sonic Boom," which debuted at No. 2 on the Billboard 200 and sold 238,000 copies. The new set helped Kiss earn $10.6 million in touring revenue and $879,000 in album sales. —MP

35. Cher $11,421,553

Cher hasn't released a studio album since 2002's "Living Proof," but she's been a live blockbuster ever since. The singer took Celine Dion's place at Caesars Palace in 2008, and her successful Cher at the Colosseum residency earned her $11.2 million. —Evie Nagy

36. Andrea Bocelli $10,711,746

A touring favorite who earned $6.1 million on the road last year, classical crossover star Andrea Bocelli also banked $4.4 million in CD royalties and $121,100 in digital album royalties. —EN

37. Phish $9,998,242

The jam band reunited in 2009, and while new album "Joy" didn't exactly fly off the shelves, it did provide new material to play on a sold-out tour that included a high-grossing two-night stand at Bonnaroo and the band's own Halloween Phish-fest in Indio, Calif. —RW

38. Bob Dylan $9,610,011

He may be one of America's most prolific songwriters and recording artists, but Bob Dylan is raking it in these days with his 20-plus-year Never Ending Tour. His box-office share in 2009 was $7.4 million, compared with $1.5 million in CD royalties, $154,592 in digital album royalties, $121,955 in digital track royalties and $350,514 in songwriter mechanical royalties. —EN

39. Leonard Cohen $9,511,958

Leonard Cohen played his first U.S. concert in 15 years in February 2009. The show kicked off a successful year on the road that earned him $9.2 million in box-office share, dwarfing his $236,200 in CD royalties and $34,748 in digital album royalties. —EN

40. Bette Midler $9,421,947

Bette Midler has long been a successful touring artist, but her 90-date sitdown at Las Vegas' Colosseum at Caesars Palace accounted for all her box-office revenue in 2009, as well as the overwhelming bulk of her income for the year. Even so, she did better than many artists with her digital tracks, presumably with lots of "Wind Beneath My Wings" downloads. —RW

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