Trending News|December 12, 2013 06:47 EST By Silvia Hrabkovska

Madonna named by Forbes 'most paid musician'

Madonna tops Forbes' list of the world's highest paid musicians in 2013 with earnings of $125 million.

Madonna had a great year with her MDNA tour which earned $305 million. In addition to a successful tour, Madonna's earnings grew through merchandise sales at concerts, clothing line named Material Girl, and daring fragrance Truth or Dare.

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During her MDNA tour, Madonna performed material from her latest studio album 'MDNA,' which released in 2013. During the tour, Madonna toured USA, visited Europe as well as the Middle East. During the tour Madonna performed 88-sold out shows.

WATCH The MDNA Tour - Official EPIX Trailer

Material Girl collection was created in collaboration with Madonna and her daughter Lola. The line was created for a spontaneous girl who loves to shop and mixes her fashion taste with designer pieces. The line is currently being sold in Macys.

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Fragrance called Truth or Dare by Madonna was inspired by darkness and light and represents dual forces coexisting together in human nature.

Right behind pop singer Madonna is another pop lady, Lady Gaga with her $80 million. According to Forbes, Gaga's tour brought in $160 million even though the tour was shortened because of Gag's hip injury. If Gaga would be able to finish the tour, Forbes says that she would earn $200 million.

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Although earnings from Gaga's new album release titled 'ARTPOP' wasn't included for this year, it should give her a boost on Frobers list next year round.

According to the list, it's clear that live performances are one of the most important things for revenue in today's music scene.

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Kevin Liles, founder of KWL Enterprises and artist manager told Forbes that touring is the biggest revenue stream.

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Rockers Bon Jovi earned $79 million and landed on the third rank of the list. Most of Bon Jovi's earnings also came from their successful tour titled Because We Can.

WATCH Bon Jovi - Because We Can (The Beginning: Epilogue)

Country singer and songwriter Toby Keith, was fourth with his $65 million. What certainly helped Keith to reach fourth rank this year was his own record label, restaurant chain.

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Coldplay came fifth with their $64 million. Coldplay's soundtrack for the movie Hunger Games: Catching Fire titled "Atlas," was nominated for 2014 Golden Globes Best Original Song-Motion Picture.

READ DETAILS:Golden Globes nominees for Best Original Song: Swift, U2, Coldplay, Menzel, Timberlake

Country star Taylor Swift was 8^th with $55 million. Swift will celebrate her 24-th birthday tomorrow, December 13.

Swift was also nominated for 2014 Golden Globe Awards with the song "Sweeter than Fiction" from the movie One Chance.

READ DETAILS:Taylor Swift gets Golden Globes nomination for "Sweeter than Fiction," from 'One Chance'

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