PSY's 'Gangnam Style' Has Already Earned the Singer $8.1 Million and Counting
YouTube clicks, downloads and brand endorsements: It all adds up for the South Korean one-hit (so far!) wonder.
South Korean pop sensation PSY -- born Park Jae-sang -- has shattered YouTube records with his earworm hit "Gangnam Style," a song that managed to eclipse even Carly Rae-Jepsen's "Call Me Maybe" to become the definitive, Internet-launched smash single of 2012.
But what is that kind of runaway success worth, in dollars?
According to the Associated Press, the amount is $8.1 million in 2012 alone -- not too shabby for a virtual unknown whose personal mantra for success is "dress classy and dance cheesy."
The YouTube views -- now hovering at 880 million, 70 million more than second-place Justin Bieber's "Baby" -- account for $870,000 in ad-supported revenue for the singer.
Then there are downloads and CD sales: The single has been downloaded 2.9 million times in the U.S., according to Nielsen SoundScan, at a price of $1.29 per iTunes download. Apple keeps 30 percent of that. Total take for PSY: $2.6 million.
Finally, there are the endorsements and ad campaigns. In his home country, PSY's song has been popping up in commercials for Samsung and LG, while PSY himself has been hired to pitch a Samsung refrigerator and a leading noodle company.
The AP quotes an analyst who estimates the value of these various deals to be worth about $4.6 million.
What do you think? Is "Gangnam Style" worth $8.1 million?
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