Psy's 'Gangnam Style' music video has become the first clip in YouTube's history to reach one billion views.
The South Korean rapper first premiered the video online and the
horse-like dance craze has taken the world by storm, reportedly
receiving between seven and 10 million views per day, and surpassing
Justin Bieber's Baby which has received 813 million plays.
According to various music industry insiders, 'Gangnam Style' has
already reached one billion views, making it the first video to do so.
Chris Cooke, business
editor of the CMU music news site, says the video has earned an
estimated £5 million from advertising alone.
"I've seen a statistic which reckons the one song will have generated
something like $8m [£5m] by the end of the year from money that comes
directly from YouTube through advertising plus download sales, its uses
in adverts and TV programmes," Cooke told the BBC."It shows that YouTube - which is a free-to-use as a promotional platform for the music labels - can lead to substantial income."
Cooke also sends out a warning to others who may try to mimic 'Gangnam Style's' success, saying it may not work for everyone.
"Should every artist be trying to think of a funny video that will go viral and be mimicked? I don't know whether it's a template that can be copied, but it certainly shows how quickly an eye-catching clip can spread thanks to social networks and YouTube," Cooke continued.
Psy has enjoyed huge success as a performer off the back of Gangnam Style, performing with the likes of Madonna and MC Hammer, meeting various celebrities including Kanye West and appearing at several award shows.
WATCH GANGNAM STYLE BELOW
