Psy's Profit from 'Gangnam Style' Estimated to be $10 Million USD!
By Staff Writer | August 26, 2012 10:32 AM EDT
In the midst of the worldwide movement of "Gangnam Style", it has been predicted that Psy could earn a profit of over $10 million USD with just one song at this rate.
Based on the data provided by the Gaon Charts, Psy has raked in profits of $360,000 USD just from music downloads and $350,000 USD from albums sales and $42,000 USD from streaming. Of course these numbers are only increasing as time goes by and Psy becomes more and more famous. In total, he has earned about $76,000 USD just from one song.
Psy's "Gangnam Style" is still maintaining its spot in the number 1 spot in various music charts. Seeing the growing popularity of "Gangnam Style" around the globe, it is possible that Psy will earn about $1.5 to $2 million USD.
Also, approximately 30,000 people attended Psy's concert "The Wetter Show" on the 11th at the Seoul Olympic Stadium. From the single concert, Psy's profit has been estimated to be around $3 million USD.
Psy's endorsement deals cannot be taken out of the picture when it comes to estimating his profits. Psy receives around $400,000 to $500,000 USD per advertisement. According to a representative from the advertisement industry, Psy has signed about 10 endorsement deals just after "Gangnam Style." Psy will probably earn a profit of about $5 million USD just from his endorsement deals.
In addition, when Psy's promotion activities and appearances are taken into consideration, he probably already earned somewhere around $10 million USD just for his song "Gangnam Style."
Meanwhile, Psy has met with the representatives of international pop star Justin Bieber and seems to have made plans of creating a collaboration project together. Sources revealed that Scooter Brown, Justin Bieber's manager, suggested making a re-make version of the song "Gangnam Style" in an international version.
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