Taylor Swift tops Highest-Paid Women in Music list with incredible annual earnings

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Taylor Swift has smashed her competition to be named the richest female musician, according to Forbes' Highest-Paid Women in Music list for 2016.

The 26-year-old US pop star has amassed earnings of 170 million US dollars (£137.8 million) over the past year, meaning she has earned more than double her nearest competitor Adele.

The British singer took home 80.5 million US dollars (£65.2 million) to come second on the list.

Taylor Swift
Taylor Swift (Michael Probst/AP/PA Images)

Taylor's takings are mainly due to her 1989 World Tour raking in a quarter of a billion dollars, 200 million US dollars (£162.5 million) of which was made in the US alone.

She also has lucrative endorsement deals with brands such as Diet Coke, Apple and Keds.

Forbes' media and entertainment editor Zack O'Malley Greenburg said: "Taylor has completely overtaken everyone on our list due to the phenomenal success of her 1989 World Tour.

Adele
Adele (Dominic Lipinski/PA Wire/PA Images)

"She played nearly twice as many dates as competitors like Adele and Rihanna during our scoring period, and managed to fill stadiums - the largest type of building one can play - throughout lucrative North American markets and beyond."

He explained: "Touring is where music's top moneymakers generally score the bulk of their bucks, and Taylor is the prime example."

Adele's silver-prize earnings are not to be scoffed at, though, as she is one of the few musicians whose earnings largely come from album sales.

Madonna, Rihanna and Beyonce
L-R: Madonna, Rihanna and Beyonce (Charles Sykes/Chris Pizzello/Daniela Vesco/AP/PA Images)

The 28-year-old Grammy and Oscar winner's latest album 25 has been a huge global success, and her current world tour has only added to her overall takings.

Madonna comes in third place with 76.5 million US dollars (£62 million) earned over the past year, and Rihanna follows closely behind with 75 million US dollars (£60.8 million).

Last year's number one Katy Perry lands in sixth place for the year after her Prismatic World Tour came to an end in October last year.

Katy Perry
Katy Perry (Matt Rourke/AP/PA Images)

Katy's earnings for 2015 were 135 million US dollars (£109.4 million) but for the 2016 period, she slipped down to 41 million US dollars (£33.2 million).

The top 10 list is completed by solo music artists Beyonce, Jennifer Lopez, Britney Spears, Shania Twain and Celine Dion.

Forbes estimated the pre-tax income of personalities from June 1 2015 through to June 1 2016 from a variety of sources, including data from Pollstar, Nielsen and the Recording Industry Association of America, as well as interviews with managers, lawyers and some of the stars themselves.

:: The full list of top-earning female musicians for 2016.

1. Taylor Swift - 170 million US dollars (£137.8 million)
2. Adele - 80.5 million US dollars (£65.2 million)
3. Madonna - 76.5 million US dollars (£62 million)
4. Rihanna - 75 million US dollars (£60.8 million)
5. Beyonce - 54 million US dollars (£43.8 million)
6. Katy Perry - 41 million US dollars (£33.2 million)
7. Jennifer Lopez - 39.5 million US dollars (£32 million)
8. Britney Spears - 30.5 million US dollars (£24.7 million)
9. Shania Twain - 27.5 million US dollars (£22.3 million)
10. Celine Dion - 27 million US dollars (£21.9 million)