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Psy makes over 8 million USD from "Gangnam Style"

December 7, 2012 @ 8:50 am
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Psy has reportedly made over 8 million USD from "Gangnam Style".

His profits include income from YouTube ads, music and album sales, and TV commercials. Psy is predicted to have made 87,000 USD from YouTube ads for "Gangnam Style" alone. When he adds on the profits from the many parody videos, his profits are set to increase even more.

According to Nielsen Soundscan, "Gangnam Style" was downloaded 2.9 million times in the United States. Even after Apple takes 30% of the iTunes download revenue, Psy and YG Entertainment are left with about 2.6 million USD. He also made an extra 65 million KRW (approximately 60,000 USD) from Korean downloads and streaming as well as another 50,000 USD from the sales of his 6th album.

Psy's largest income comes from TV CFs; he featured in ads for Samsung, LG, and many other big companies, bringing in 4.6 million USD. Not only this, but his father's business also saw a 30% rise in stock with Psy's popularity.

Psy will be taking 70% of his profits, while 30% will go to YG Entertainment.

Source: Newsis via Nate

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