Taylor Swift earns more than Justin Bieber and Lady Gaga

We thought Justin Bieber was unstoppable but now it's official: Taylor Swift earns more money year-on-year.

Forbes have released their list of 'The Highest Paid Celebrities under 30' which includes Taylor Swift, Lady Gaga, Rihanna , Katy Perry and Justin Bieber in the top 5.

Taylor swift ranks 1, earning more than $57 million this past year from her platinum albums, and $1 million fee per concert. Bieber, who comes in at second earned $55 million from concerts, album sales and product endorsements. He has also begun investing in tech ventures and start-ups.

Making the transition to Hollywood, Rihanna and Justin Bieber have managed to make a big impact at the box office. However, Katy Perry's 'Part Of Me' concert film recently opened with a less than stellar performance (it won't count in these numbers). Despite this, her earnings for the past year are estimated at $45 million and put her in 5th place.

With the music industry losing CD sales every year, Taylor Swift has managed to do the impossible and with her successful concert tours, it looks like she has succeeded to outshine Lady Gaga and Bieber in earnings.

Earnings were calculated between May 2011 - May 2012