Real Madrid are the world's biggest earners from television revenue ahead of Barcelona as the top two in Spain dwarf the Spanish league's other clubs.
Los Galacticos came out on top in the Football Transfer Review study as they were shown to earn €136 million-per-season from their deal with Mediapro.
Barca are third, below Manchester United, with income of €116 million, while the rest of the teams in la Primera are lucky to earn under 50 per cent of that.
Manchester United are also behind Madrid in marketing; replica kits and other merchandise earn the Spanish giants €129 million each year.
Matchday income is won by the Red Devils though as the Premier League champions make €128 million compared to Madrid's €101 million.
Despite claiming that they have to keep a tight rein on their budget, Bayern Munich are Europe's fourth biggest earner raking in €295 million, with €177 million coming from marketing.