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PSY’s "Gangnam Style" Is $8M Blockbuster Hit on YouTube

Andreas Rentz/Getty Images for MTV(NEW YORK) -- PSY’s “Gangnam Style” video already holds the title as the most watched YouTube video of all time.  Now, Google’s revealing how those numbers translated into advertising revenue.

“It generated over $8 million in online advertising deals,” Nikesh Arora, the senior vice president and chief business officer at Google, said on Google’s earnings call Tuesday evening.  

The video broke a billion views late last year and as of Wednesday has 1.23 billion views.  Google said in November that “Gangnam Style” was still being watched between seven to ten million times every day.

According to Quartz, the video generates an average of 65 cents every time someone hits the play button.  The YouTube creator keeps half the money, which suggests PSY and his record company have made at least $4 million from YouTube so far.  

Of course, the South Korean rapper earned a lot more than that with revenue from downloads and other music distribution and, of course, now, his advertising deals.

Copyright 2013 ABC News Radio

ABC News Radio