Yes that’s billion with a B. South Korean K-pop performer Psy has become a global phenom in the five months since his infectious dance video was released on YouTube. Today the 34-year-old made online video history when “Gangnam Style” hit a record-breaking 1 billion views on Google’s video service. BTIG analyst Richard Greenfield predicted in a report in October that the viral video had “profound long-term implications for the traditional media ecosystem”, presenting “tremendous opportunity” for advertisers and, by extension, for content creators — on YouTube. Several assessments and projections have claimed “Gangnam Style” generated over $8.1 million in advertising deals, according to YouTube. Since late last month, the track has gotten more than 600,000 clicks on iTunes, helping make Psy the first Korean artist to rank No. 1 on the U.S. iTunes chart and No. 1 in over 30 additional countries. If you’re wondering, Justin Bieber’s “Baby” previously held the most-watched video title.

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