Canadians Michael Bublé and Justin Bieber have earned spots on a Forbes list of the world's highest paid musicians.

The list, topped by Irish rockers U2 with an income of $195 million US, also counts Elton John, Lady Gaga and Bon Jovi among the top-earning musicians for the period of May 2010 to May 2011.

Bon Jovi, like many others on the list, earned most of its money through stadium touring — the only sure revenue generator while the profits from record sales continue to slide. The New Jersey band came in number 2 with an income of $125 million.

 Forbes top-earning musicians
 1. U2, $195M.
 2. Bon Jovi, $125M.
 3. Elton John, $100M.
 4. Lady Gaga, $90M.
 5. Michael Bublé, $70M.

Vancouver singer Bublé was number 5 on the list, coming just behind Lady Gaga. He earned $70 million from a lucrative concert tour, heavy radio play and strong album sales with Crazy Love, Forbes reported.

Bublé is splitting his time between Argentina and Canada since marrying Luisana Lopilato earlier this year.

Stratford, Ont.'s Justin Bieber, who raked in $53 million, is the youngest on the list at age 17. He placed number 10 and continues to build revenue streams with a savvy marketing team that has created a perfume line and lucrative biopic (Never Say Never) to go with his heavy schedule of public appearances.

Bieber's placement among the top-earning musicians of all ages follows news that he placed second on the Forbes list of top-earning celebrities under age 30.

On that list he follows only Lady Gaga, who Forbes says spends heavily on her elaborate touring costumes and sets, detracting from the $90 million in revenue she earned in 2010-11.

Forbes lists are compiled using Pollstar and RIAA data as well as interviews with agents, promoters and the stars themselves.