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:
+ Tom Morello Praises 16-Year-Old Girl as 'One of the Best Drummers I Ever Heard' Entertainment 10/25/2014
+ New York Music Festival Showcase Event Cancelled After Ebola Scare Entertainment 10/24/2014
+ Five-Year-Old Drummer Covers Pink Floyd Like a Champ Entertainment 10/23/2014
+ Wilko Johnson Says He Is Cancer Free General Music News 10/23/2014
+ Allow Us to Introduce You to an All-Bass Metal Band General Music News 10/22/2014
+ Smart People Listen to Radiohead and Led Zeppelin, Dumb People Like Lil' Wayne, Study Finds Entertainment 10/22/2014
+ view all
Comments
Your captcha is incorrect