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The Biggest Money Makers in Music

Any way you look at it, music is big business. It’s also a very diverse industry, ranging from live performances, digital downloads and album sales to merchandising and licensing. The money can be huge, and for artists who are responsible for the industry’s core product—the music itself—a good year can mean huge profits.

Billboard has compiled a list of 2008’s highest earning musicians, ranking them by how much income they’ve taken home from touring, album sales, digital tracks and ring tones. Merchandise, licensing and other revenues are not included in the final numbers, so these numbers stick strictly to the music. Billboard found that concert tours generated the most revenue for artists as recorded music sales continued to decline.

So, who are the biggest money makers in music? Click ahead to find out!

By Paul Toscano
Posted 17 Feb 2009