Majors Invest In Asia To Find Next 'Gangnam Style' Hit

artist: misc date: 11/14/2012 category: industry news
I like this
864
voted: 72
Majors Invest In Asia To Find Next 'Gangnam Style' Hit
Korean rapper Psy is predicted to inspire a wave of hits from Asia and South America, after his viral hit "Gangnam Style" has reached over 700 million views on YouTube, not including the thousands of remixes and parodies of his video. Labels and producers are now expected to invest in a wave of alternative pop, according to a report by music industry body IFPI. The report says that record labels will increase investment in pop acts from places like Japan, China, Korea and South America in a bid to find the next Psy, Rihanna or Lady Gaga. "I don't think Psy will be a one-off. The production values and the creativity coming out of Korea are remarkable," said Max Hole from Universal (via NME). "The focus of the recorded music industry for the last 40 years has been on the ten main music markets US, the UK, Germany, France etc. The next 30 years the focus is going to move to the emerging markets [like Asia and South America], and that's very exciting for us." It it a savvy business move from the Western labels, or will they find it hard to emulate Psy's success? Let us know what you think in the comments.
More misc news:
+ Today in Killer Young Bands: Crobot Streaming New Single 'Full Moon Howl' Upcoming Releases 04/20/2015
+ Is the Drum Sound in Player's Hands? Yes It Is, Here's Video Proof Entertainment 04/20/2015
+ US Preacher Says Children Who Listen to Metal Should Be 'Smacked Around' WTF? 04/18/2015
+ Astronaut Chris Hadfield to Release Album He Recorded In Space General Music News 04/17/2015
+ Weiland/Bumblefoot/Disturbed Supergroup Art of Anarchy Presents Debut Video ''Til the Dust Is Gone' Upcoming Releases 04/16/2015
+ Exclusive: Legendary Engineer Dave Jerden Shares Amazing Stories About Working With the Stones, AiC, RHCP, Jane's Addiction, Offspring and More General Music News 04/16/2015
+ view all
Comments
Your captcha is incorrect