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Psy Set to Make Fortune With ‘Gangnam Style’

Posted: Dec 06, 2012

 K-pop superstar Psy is expected to rake in about $8.1 million this year thanks to his viral hit song “Gangnam Style,” according to the Associated Press.

The analysis says that main sources of income for “Gangnam Style” are YouTube, music sales and television commercials. Most of Psy’s income comes from the United States, not South Korea or other Asian markets. “Gangnam Style” recently surpassed Justin Bieber’s “Baby” to become the most-watched video on YouTube with 880 million views. It’s estimated that Psy’s camp will collect about $870,000 from ads that appear with the video.

The song was downloaded 2.9 million times in the U.S. since it’s debut, according to Nielsen SoundScan. With Apple’s iTunes Store selling each song for $1.29, Psy and his agency could be due over $2.6 million after Apple’s cut.

Psy also appeared in numerous television commercials in South Korea, including top brands such as Samsung Electronics and mobile carrier LG Uplus. Revenue from his commercial deals could be worth up to $4.6 million.

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