Recently entertainment companies have spent a large amount in producing MVs for their artists. Korean media has termed it a 'Music Video Blockbuster' era! Let me just list down a few recent MVs and their production costs.
- Cho Yongpil's Hello: 100 million won (~100,000 USD), filmed in Canada.
- Secret's YooHoo: 250 million won, filmed in Saipan.
- CNBlue's I'm Sorry: 600 million won, filmed in London.
In the past, music video product costs rarely exceeded 50 million won. Now, a 100 million won MV has become common. Shooting usually takes place overseas and lasts for 24-36 hours.
There is increasing awareness that investing in a good MV might be even more important than a World Tour, with Psy's 'Gangnam Style' as the most prominent proof.
'Gangnam Style' has successfully captured global audience even without any stage overseas. Youtube has added to this success, enabling people cultures and country borders to watch and viral videos with hardly any costs across. 'Gangnam Style' currently has 1.5 billion views on Youtube since its release in July and 'Gentleman' has passed the 900 million mark.
A representative from FNC (FTIsland's and CNBlue's agency) said "Music Video contains music and video effects that overcome language barrier, and reach out to people from all over the world. The MV era will lead to globalization of Korean music," adding that "Producing a good MV is more cost effective than doing promotional activities overseas."