Beyoncé named the highest paid woman in the music industry with estimated earnings of $115 million, according to Forbes. In photo - Beyonce poses backstage with three of her four awards during the 2014 MTV Video Music Awards in Inglewood, California Aug. 24, 2014. Reuters/Kevork Djansezian

Beyoncé is the highest-paid woman in the music industry this year with estimated earnings of $115 million, more than double her earnings in 2013, Forbes magazine said Tuesday. Last year, the 33-year-old singer had come in at No. 4 on the list, after earning nearly $53 million.

Most of Beyoncé’s earnings came from her world tour, during which she performed in 95 shows with an average earning of $2.4 million in each city, Forbes said, citing trade publication Pollstar. Beyoncé’s self-titled album, which released on iTunes in December 2013 and became one of the best sellers of the year, also reportedly helped boost her income.

Taylor Swift came in No. 2 with estimated earnings of $64 million from her recorded music and endorsements for CoverGirl, Keds and Diet Coke. According to Nielsen SoundScan, Swift’s new album sold nearly 1.287 million copies last week.

“A platinum debut is a phenomenal achievement and even more outstanding given today’s market,” entertainment attorney Lori Landew of Fox Rothschild told Forbes about the 24-year-old’s album “1989.”

“Swift and her team have done everything right and seem to have written the playbook on how to tee up a new release,” Landew said.

Alecia Beth Moore, better known by her stage name Pink, who rose to fame with her debut solo album “Can't Take Me Home,” came in third with estimated earnings of $52 million.

Although the 35-year-old R&B artist may not be as famous as Beyoncé and Swift, she has been striking it big with frequent performances. According to Forbes, Pink played in more than 85 concerts during Forbes’ calculated period and received an average of $1 million in each city.

Rihanna came in No. 4 with estimated earnings of $48 million, while Katy Perry ranked fifth with estimated earnings of $40 million.

Forbes said that the calculations were based on earnings between June 2013 and June 2014, and data from Pollstar, the Recording Industry Association of America and Nielsen SoundScan also contributed to the annual list.