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Psy’s Gangnam Style generates £5 million in YouTube advertising revenue

Viral video clip, Gangnam Style has made over £5 million ($8 million) in YouTube advertising revenue since its release in July 2012.

The figures from Google show that the video has been viewed 1.23 billion times since its upload, earning it $6.50 per 1,000 streams.

Additionally, the promotional space around the clip rose in value as it gained popularity.

Psy, star of the video, will take home around half of this revenue.