AceShowbiz -

Beyonce Knowles is the highest-paid woman in the music industry in 2014, Forbes says. On a list published by the magazine on Tuesday, November 4, the singer comes at the top slot with estimated earnings of $115 million. That's more than double her earnings last year.

"Beyonce played 95 shows during our scoring period, bringing in an average $2.4 million per city," Forbes reports. "She added endorsement deals from the likes of H&M and Pepsi - plus her self-titled surprise album, which hit iTunes in December 2013 and quickly became one of the year's top sellers - to send her income into nine-figure territory."

Taylor Swift claims the second place on the list with around $64 million in earnings. The money came from her music as well as her endorsements for CoverGirl, Keds and Diet Coke. The sales of her new album "1989", which has just topped Billboard 200 with 1.287 million copies, aren't included.

Pink is another female musician who has secured a spot on the list. She's at No. 3 with estimated earnings of $52 million which mostly came from her tour. Rihanna takes the fourth place with estimated earnings of $48 million, while Katy Perry is ranked fifth with estimated earnings of $40 million.

The list is based on the artists' income from June 2013 through June 2014 according to data from Pollstar, the RIAA and Nielsen SoundScan, as well as interviews with managers, lawyers and executives.