Psy is back at it again, bringing the international spotlight back to the Korean music industry with the release of his latest single, "Gentleman."
As the dance-pop track climbs its way up music charts across the globe, YouTube views are skyrocketing. But, those are not the only numbers soaring.
After a multi-million dollar investment in the singer, Psy's label YG Entertainment was expected to see a very handsome profit in return. Online music sales and earnings from YouTube advertisements are already estimated to make the label a hefty sum as the "Gentleman" music video continues breaking view records. The agency reported on Tuesday that their company shares are at the highest they have been in the past six months.
Psy and his family also stand to receive a very generous amount from the new single.
While Psy may currently be at the front of the hallyu wave, he is taking with him many other popular K-Pop idols.
After gaining some time of her own in the Psy spotlight, Gain has gotten a lot of attention for her appearance in the "Gentleman" video. Her group, the Brown Eyed Girls, and their label Nega Network have had revenue boosts too, as more and more people view the 2009 "Abracadabra" video and download their songs.
Other Korean-based entertainment agencies have also seen a sizable increase in their company shares. Apparently piggybacking on Psy's good fortune, JYP Entertainment and SM Entertainment have reported their company stocks have been steadily going up since last week's release of "Gentleman," according to the Wall Street Journal.
At the end of the day on Tuesday, 2PM and Wonder Girls management, JYP Entertainment had gained 5.1% since last Thursday, while SM Entertainment, home of Girls' Generation, SHINee and Super Junior, said their market share went up by about 5% as well.
It seems that many people are banking on the hallyu wave taking hold around the world, and everyone is trying to decide which group has the potential to match Psy's success.
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