Australia-shy Madonna tops world earnings

Madonna has been named the biggest earner in music thanks to a world tour that netted almost $US34.6 million ($A33.8 million) in 2012.

Billboard Magazine's list of the top money makers has the 54-year-old Material Girl top for the second time in five years.

Despite snubbing Australian fans on her 88-date MDNA tour, Madonna earned an estimated $US32m from live shows, which accounted for more than 90 per cent of her total revenue.

She was the only woman in the top ten as Taylor Swift, who took out the top spot last year, fell to 15th due to a relatively quiet year on the touring side. She instead opted for one-off performances at the ARIA Awards and the Brits.

In second place in the music publication's list was Australia-bound Bruce Springsteen, whose $US33.4m was also mainly driven by extensive touring.

Springsteen's shows accounted for 92 per cent of earnings, with the rest coming from merchandise sales and his No.1 album Wrecking Ball.

Pink Floyd's Roger Waters, who toured Australia last summer, came third with total earnings of $US21m made mainly from his The Wall Live shows.

Van Halen, who are set to headline the inaugural Stone Festival in April, were fourth with $US20m after touring in support of their album A Different Kind Of Truth.

Kenny Chesney, the Dave Matthews Band, Tim McGraw, Jason Aldean and Coldplay made up the rest of the list, with Justin Bieber completing the top 10 with earnings of $US16m, around $US10m coming from his Believe world tour.

"The entire Top 10 averaged 84.2 per cent of their income from concerts," a statement from Billboard said.