The top-earning musicians

By contrast, younger bands, even those that have enjoyed massive buzz or considerable commercial success, can't come close to commanding such prices. During the first half of this year, Arcade Fire charged an average of $30.74 per concert ticket, while the average ticket to a Snow Patrol show cost $31.27, according to Pollstar.

Be big in Japan and ...
Cracking the U.S. music market is the dream of every would-be pop star, American or otherwise. But there's no accounting for popular taste in any one country. What's hot one minute is stone cold over the next. Even platinum-selling recording artists can experience being "in" and "out" and then back "in." Just ask veteran acts like Mariah Carey or Aerosmith.

Many of top earning musicians maximize their earning potential by going out of their way to cultivate a fan base outside the U.S. as well, particularly in Europe and Asia. Madonna, Bon Jovi and Celine Dion aren't just popular musicians. They're worldwide pop stars.

"That's not something that happens by accident, that's not something that happens overnight,'' observes Los Angeles entertainment attorney Chris Castle. "That's something they work at. And they work at it because they want a career."

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Because developing an overseas fan base takes time and effort, foreign markets tend to have the most commercial significance for older, established pop stars. Being able to count on the support of their fans in, say, Japan, Germany or Brazil opens a myriad of additional touring and retail opportunities for older artists.

"Outside of the United States, fans tend to stay loyal much longer,'' Castle says. "They aren't as influenced by the youth culture as we are here."

Develop Multiple Income Streams
Diversify. It's a fundamental tenet of investing. And it's also  a  key to commercial success in the music industry as well.

Most top earning musicians don't just rely on album sales, song downloads and touring to generate income. They also exploit the power of their brand name to push other products. That can be as simple as selling ringtones and fan merchandise or locking up lucrative sponsorship deals.

"When you're a big star, there are all sorts of little pieces like that," Castle observes. "Fifty grand here, 20 grand there and before you know it, you're talking real money."

But other, more enterprising stars also delve into completely different lines of business for added income. And it's here that younger stars can rise to the level of older top earners.

The textbook example is Jay-Z. After establishing his props as one of the most respected figures in hip-hop, the Brooklyn, N.Y., rapper used his fame and business smarts to start his Rocawear apparel line in 1999. In March, he sold the company for a cool $204 million. Forbes estimates that he pocketed about a quarter of that himself.

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