Forbes suggests that Taylor could have landed in the top spot if more of her live dates had fallen within the 12 month period.
There’s a chance Taylor could find herself further up the rankings for 2019 too, after it was revealed this week she has signed a new global recording agreement with Universal Music Group.
She spent her career to date signed to independent label Big Machine, meaning this move is her first major label deal.
Rounding off the top five after Katy and Taylor are Beyonce ($60 million), Pink ($52 million) and Lady Gaga $50 million), with Jennifer Lopez ($47 million) just missing out in sixth place.
They’re followed by Rihanna ($37.5 million), Helene Fischer ($32 million), Celine Dion ($31 million) and Britney Spears ($30 million).
Forbes’ highest paid women in music in 2018 top 10:
1. Katy Perry ($83 million)
2. Taylor Swift ($80 million)
3. Beyoncé ($60 million)
4. Pink ($52 million)
5. Lady Gaga ($50 million)
6. Jennifer Lopez ($47 million)
7. Rihanna ($37.5 million)
8. Helene Fischer ($32 million)
9. Celine Dion ($31 million)
10. Britney Spears ($30 million)