Google: 'Gangnam Style' generated over $8 million in advertising deals

Tracey Nearmy / AAP / EPA file / Today
South Korean pop artist Psy poses for photographs in Sydney, Australia in October 2012.

"I get tired or I get sick of it," Psy said of "Gangnam Style" during a news conference in Singapore in December. However the South Korean sensation feels about his infectious song and dance, there's certainly one thing that he can't complain about: Cold, hard cash.

We've previously heard third-party estimates suggesting that the "Gangnam Style" YouTube video may have generated over $8.1 million in advertising deals, but now Google itself is calling attention to this statistic.

"Outside estimates say that ... that video — which I am sure all of you have seen — of Psy, his hit song, 'Gangnam Style,' now the most watched YouTube video for all times," Google senior vice president and chief business officer Nikesh Arora explained during the company's quarterly earnings call on Tuesday. "It generated over $8 million in … all in advertising deals."

Psy, whose real name is Park Jae-Sang, has seen some significant success beyond YouTube-related profits. In late December, "Gangnam Style" became the first YouTube video to get one billion views, beating Justin Bieber's "Baby," the second most popular video on YouTube, by a wide margin. YouTube trends manager Kevin Allocca praised the video's popularity in a post on the official YouTube blog, pointing out that it has been viewed in "close to 75 countries, making it one of the most global music sensations ever." Additionally, as of late December, fan tributes to the video were being viewed 20 million times every single day.

Considering that the phrase "Gangnam Style" finished 2012 as YouTube's top rising search query, odds are that Psy's success will continue on the video sharing site for a while longer — even if he declared that 2013 will include less of that song.

Might as well learn that dance right now if you haven't already.

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