It makes sense considering that Google’s video platform helped turn the K-pop entertainer’s dance tune into a global hit, attracting nearly 2.2B views. Psy plans to introduce his new tune, Gentleman, here on YouTube this Saturday at a live streamed concert at Seoul World Cup Stadium that will begin 5:30 AM ET/2:30 AM PT. Last year, BTIG analyst Rich Greenfield said that the success of Gangnam Style has “profound long-term implications for the traditional media ecosystem” by demonstrating YouTube’s ability to attract 12- to 17-year-olds, and males generally to age 24, which he said are among “the most challenging demos for advertisers to reach.”
Yes that’s billion with a B. South Korean K-pop performer Psy has become a global phenom in the five months since his infectious dance video was released on YouTube. Today the 34-year-old made online video history when “Gangnam Style” hit a record-breaking 1 billion views on Google’s video service. BTIG analyst Richard Greenfield predicted in a report in October that the viral video had “profound long-term implications for the traditional media ecosystem”, presenting “tremendous opportunity” for advertisers and, by extension, for content creators — on YouTube. Several assessments and projections have claimed “Gangnam Style” generated over $8.1 million in advertising deals, according to YouTube. Since late last month, the track has gotten more than 600,000 clicks on iTunes, helping make Psy the first Korean artist to rank No. 1 on the U.S. iTunes chart and No. 1 in over 30 additional countries. If you’re wondering, Justin Bieber’s “Baby” previously held the most-watched video title.
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The mesmerizing dance video from South Korean K-pop performer Psy has “profound long-term implications for the traditional media ecosystem,” BTIG analyst Richard Greenfield says this morning in the kind of provocative report that makes his work a must-read. His case begins with the video’s eye-popping numbers: “Gangnam Style” has been viewed more than 430M times since it was released in mid-July, making it YouTube’s ninth-most-watched clip. It’s sure to end up much higher; its views are growing at a rate of about 10M a day. To give that some context, Greenfield notes that each episode of CBS’ NCIS — last season’s most watched regular series — attracted an average of about 22M viewers in the seven days after it aired, while the Super Bowl attracted more than 168M. Relax, Greenfield doesn’t claim that viewers devote the same time and commitment to a YouTube video as they do to TV shows.