PSY Set To Make Millions From His Youtube Video For "Gangnam Style"
Posted by Joseph Lee on 12.05.2012
But not as much from music sales in South Korea...
Yahoo reports that PSY is set to make a lot of money thanks to the popularity of the music video for "Gangnam Style". The video is getting closer to one billion views on Youtube.
PSY (real name Park Jae-sang) will earn the money from Youtube ads and Itunes downloads, as well as TV commercials. He will earn $7.9 million just from those sources. For online music sales in South Korea, he'll only earn less than $60,000.
The video has so far earned over 880 million views on Youtube after being released in July, passing up Justin Bieber's "Baby" (over 808 million views since February 2010). PSY's official Youtube channel has almost 1.3 billion views. PSY and his agent YG Entertainment have earned around $870,000 from their share of ad revenue. Youtube keeps around half. PSY also earns money from views of videos that parody his songs. Google finds videos that use copyrighted content. The artist can have the video removed or let it stay online and share ad revenue with Youtube. In September, when "Gangnam Style" had 300 million views, over 33,000 videos were using the song.
The countries with the second and third highest views are Thailand and South Korea. The United States is #1.
The song has been downloaded 2.7 million times in the US and is the #1 or #2 seller since its debut. It sells for $1.29 on Apple's iTunes Store. Apple keeps 30% of sales, which means PSY could get around $2.4 million. He'll likely get 70% of that while YG Entertainment gets 30% for US downloads.