Taylor Swift reclaims 'top earner' crown

Taylor Swift has returned to the top of Billboard's annual list of music money makers, a title she held in 2012 only to relinquish last year to Madonna

The 24-year-old earned $39.7m (£23.8m) in 2013 from a combination of music sales, royalties and touring, according to the trade publication.

Country star Kenny Chesney rose three places to second place, while Justin Timberlake came third.

Rock acts Bon Jovi and the Rolling Stones round out this year's top five.

Swift's global Red Tour helped her top the money makers, with six months in the US bringing in an estimated $30m (£17.9m).

The tour also boasted three sponsorship deals which, along with merchandise, were not included in the tally due to a lack of data, but was estimated to be in the high seven figures according to Billboard.

Swift's album sales were eighth in the list of best-selling records in the US last year, while she had 10 million US downloads and came fifth in streaming royalties.

The study compiled data from Nielsen SoundScan, Nielsen BDS and Billboard Boxscore, using standard fees and formulas to work out royalties or management fees.

For live shows they credited each artist with 34% of their box office sales, the amount typically left after subtracting touring costs.

Country star Chesney enjoyed his seventh chart-topping album in 2013, while Timberlake received a rapturous welcome back from fans after a seven-year break from music, earning him $31.5m (£18.8m).

The 20/20 Experience was his first album since 2006, with strong digital sales. His Legends of the Summer tour with Jay Z generated $60m (£35.9m) from just 12 shows but his solo tour also generated $43m (£25.7m).

Beyonce's surprise album at the end of the year earned her sixth place in the money makers list, while her mammoth 132-date Mrs Carter Show world tour ranked eighth in Billboard's top 25 tours of 2013 - the US leg alone earning her $19.9m (£11.9m).

Adam Levine's mentor role on the US version of The Voice will not have hurt his earning potential, but it was his band Maroon 5's touring revenue that secured them seventh place, with $22.3m (£13.3m).

Their live shows contributed more than $17.6m (£10.5), while One More Night was just one of the year's top 10 singles, spending nine consecutive weeks at number one on the Hot 100 chart.

Country star Luke Bryan ($22.1m, £13.2m), Pink ($20m, £11.96m) and Fleetwood Mac ($19.1m, £11.42m) completed Billboard's top 10 money makers, ranked by their US earnings.

The rest of the top 40 featured a wide variety of acts from British folk-rockers Mumford and Sons to the reformed New Kids on the Block, rappers Kanye West, Jay-Z and Eminem, Rihanna, Justin Bieber and the Trans-Siberian Orchestra.

The study also revealed Celine Dion, in 23rd place, raked in $11.8m (£7m) performing in just one room, 60 times.

Her residency at Las Vegas hotel Caesars Palace was boosted by another million from her first English-language album in 6 years, Loved Me Back to Life, which reached umber two in the chart.