psyThe Gangnam Style fever isn’t over yet. After becoming the first ever YouTube video to hit one billion views, insanely popular South Korean artist, Psy, is earning millions of dollars, according to Google Chief Business Officer, Nikesh Arora. In a rare disclosure during Google’s fourth quarter earnings call, Arora revealed that Psy has generated a whopping $8 million revenue on YouTube alone. This goes to prove that YouTube can be a very profitable medium as well. Google’s report somewhat matches a previous analysis done by the Associated Press.

The publication previously indicated that Psy’s Gangnam Style earned an estimated amount of $7.9 million in global revenue, including iTunes downloads, streaming, and sales on services in Korea. As of this writing, Gangnam Style has over 1,233,872,169 views, and that number continues to grow. News outlet Quartz notes that the video is generating an average of 0.65 cents per view. And since YouTube video creators usually earn half of the money they get from views, the lucky and talented Psy could be earning around $4 million from YouTube alone.

Filed in Videos (web). Read more about Google and YouTube. Source: qz

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