The K-pop star Psy’s very viral “Gangnam Style” video has dethroned Justin Bieber’s “Baby” as the most-viewed YouTube clip ever. (It may reach a billion views by year’s end.) How much is such a modern cultural achievement worth? Neither the singer’s reps nor the site would reveal terms, but using industry standards, it’s possible to calculate a conservative estimate. And as the figures below show, they’re not the only parties reaping a windfall.
Number of YouTube views of the “Gangnam Style” video (as of 1 p.m., November 30): 853,942,076
Standard rate YouTube pays to video owners forevery 1,000 views: $2
Estimated total YouTube revenue received by Team Psy: $1,707,884.15
YouTube’s estimated cut: $1,366,307.32
(Based on rates provided by Jason Calacanis, CEO of Mahalo, a top YouTube partner.)
Psy’s estimated revenues from U.S. digital music sales of “Gangnam Style”: $243,720
(Per a calculation by entertainment lawyer Steve Gordon, applying standard American royalties to the 2.7 million copies the song has sold.)
Share Price Increases of …
YG Entertainment, a South Korean company that manages Psy, since the video’s YouTube release: 26%
Hite Jinro, a Korean distiller, since Psy drank a bottle of its sojuat a concert on October 4: 20.5%
DI, a South Korean semiconductor manufacturer for which Psy’s dad is chairman and his uncle is vice-chairman of the board, but that has no relation to Psy’s music: 154%
Year-over-year increase in U.S. tourists to South Korea in October: 6,055
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