January 23, 2013 15:45

'Gangnam Style' has generated £5million in YouTube ad revenues

Psy should receive half of revenue generated

Google has revealed that Psy's 'Gangnam Style' video has generated over $8million (£5million) in ad revenues via YouTube, reports CMU.

The single by Psy – whose real name is Park Jae-Sang – went viral after being put on the site on July 15, 2012 and has broken YouTube's record for the 'most liked' video ever as well as the most-watched video. Psy is also the first Korean artist to bag a UK Number One on the Official Singles Chart.

The copyright owner of videos uploaded to YouTube gets 50 per cent of all revenue made through advertisements, which means that 'Gangnam Style' will have earned around £2.5 million, or around 20p per view.

The video gained notoriety for its distinctive dance move which mimics the movements of riding a horse and has been parodied a number of times, including by members of the British Armed Forces who created 'Afghan Style' while on tour for charity. Even US President Barack Obama has said that he is confident he can pull off the dance moves.

'Gangnam Style' recently won the Song Of The Year award at the Golden Disk Awards, the Korean equivalent of the Grammys.

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