“Gangnam Style” Artist PSY Virtual Millionaire As YouTube Video Approaches 1 Billion Views

“Gangnam Style” Artist PSY Virtual Millionaire As YouTube Video Approaches 1 Billion Views

It's not every day a music artist hits 1 billion views on YouTube. Asian pop artist Park Jae-sang, who is also known as PSY, is getting ready to do just that, however. PSY's hit "Gangnam Style" has been viewed nearly 900K times on YouTube since it was released in July.

As you might expect, PSY is making lots of money from this hot song. However, most of the profits aren't coming from music sales in the rapper's homeland of South Korea. Instead, the majority of the money being made from the song is coming from YouTube ads, iTunes downloads, and from TV commercials. It's estimated PSY and his camp will make at least $8.1 million this year. Less than $60,000 of that will come from online music sales in South Korea.

As the first Asian pop artist to capture a massive global audience, PSY's success shows a shift in how money is being made in the music business.  TubeMogul estimates PSY and his agent YG Entertainment have made about $870,000 from ad revenue on YouTube videos. PSY and YG Entertainment also make money on videos that parody his songs.

In addition to YouTube ad sales, Gangnam Style has been downloaded 2.9 million times in the U.S. which has generated about $2.6 million for the PSY camp. The story isn't the same in South Korea, where people pay less than $10 each month for a music subscription service that lets them download and stream songs. As a result, PSY and his camp will likely make only about $61,000 even though Gangnam Style has already been downloaded more than 3.6 million times and streamed around 40 million times in South Korea.

Gangnam Style has become the most-watched video on YouTube ever, beating out Justin Bieber's "Baby" video which has more than 808 million views. The United States has the most views of Gangnam Style, followed by Thailand and South Korea.

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This is one of the few pop-culture explosions that I was on-board for. Like when "Call me Maybe" or that Gotye song got really popular, I didn't get it, but Gangnam style is so damn catchy. All the more power to him. It's nice to see so many people enjoying international music even if they don't understand the lyrics. Music is a universal language indeed.

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I really didn't understand this from the start, and figured it'd just pass. I thought the same thing about Lady Gaga's first single. I've learned to stop underestimating the mainstream audience.

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I personally don't see the hype in this.  Sure I watched the video a few times, never all the way through, but it just didn't catch my attention.  However, it is catchy, and it's humorous to see people dancing behind news anchors along to this song.

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I never really understood Gangnam style. When my friend first showed it to me I was kind of disturbed xD

Some Korean guy singing a weird song in random places with people doing creepy things really didn't catch on to me, and now that I listen to it, the beat is catchy, but the actual music video I really don't like.

The song is okay, but it's not something that I would download off iTunes or anything and listen to.

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The Witch Craft of K-Pop finally cot on in the U.S. ... it's music really is so DAMN catchy

Seriously, it even managed to penetrate our military environment and service academies.

Here's a link comparing the videos from West Point, Navy and my very own USAFA that some friends of mine made parody music videos too (I've also seen a ton of videos from numerous Air Force Bases too)

http://www.speedofcreativity.org/2012/11/08/gangnam-style-videos-usna-vs-usafa-vs-westpoint/

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It's definitely a catchy song and fun to dance to, but the video just baffles me, all I can think is WTF?!! LOL but maybe that's why it's so popular.

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Anyone see the anti-American video he did called Dear America?  It's been all over the news recently.  Sounds like this dude really hated America back in 2004.

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