Report: Psy will make millions this year, but not from YouTube
“Gangnam Style†is now the most viewed video on YouTube ever, with more than 880 million views. But has viral YouTube success translated into big bucks for Park Jae-sung, the Korean pop star better known as Psy?
The answer is yes, although perhaps not as much as you think.
According to recent estimates, Psy has made between $870,000 (according to the Associated Press’ analysis) and $1.7 million (New York magazine’s analysis) in revenue from ads placed on the video.
A YouTube spokeswoman said the company does not comment on partners’ earnings.
That’s a wide spread, and a lot of money either way. But we thought that with the video becoming a worldwide phenomenon, closing in on 1 billion views and being even more popular than longtime No. 1 spot holder Justin Bieber’s “Baby,†Psy might have made ... more.
And remember, he probably has to share the money that he does make through YouTube with his agency, YG Entertainment, which put the video up on its channel.
The good news for Psy is that his unprecedented viral success on YouTube has led to other revenue streams.
The AP estimates that Psy and his associates will rake in more than an estimated $8.1 million thanks to advertising deals with companies like Samsung and LG Uplus, as well as more than 2.9 million “Gangnam Style†song downloads.
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