On May 31, U.S fashion media outlet WWD (Women’s Wear Daily) reported that this year’s Cannes Film Festival generated a total of 1.3 billion dollars in MIV. Citing a data analysis by Launchmetrics, the media said:
“With the global popularity of K-pop group BLACKPINK, it is not surprising that Jennie claimed the No.1 spot in MIV with a record of 1.9 million dollars (about 2.5 billion won).”
MIV calculates the monetary value that stars and influencers gain through their appearances in various media, including SNS. It takes into account factors such as media influence, content quality, and virality.
The Cannes Film Festival generated $1.3 billion in total media impact value [MIV], with Blackpink’s Jennie coming in as the top placement for MIV, generating $1.9 million, according to Launchmetrics.https://t.co/7gPUHfCDZB
— WWD (@wwd) June 1, 2023
230601 WWD | #Jennie Generates $1.9 Million in Media Impact Value at Cannes Film Festival 2023, came in as the top placement for MIV.
— DC 제니 갤러리 (@JennieDCGallery) June 1, 2023
🔗https://t.co/gPYnQVaNXL
JENNIE CANNES FESTIVAL#JENNIEatCANNES #TheIdol #Cannes2023 pic.twitter.com/FlwUYXJdkb
📝 230601 This year, the Cannes Film Festival generated $1.3 billion in total media impact value. Jennie came in as the top placement for MIV, generating $1.9 million, according to Launchmetrics. She was a great aid in Chanel’s overall MIV at the Cannes Film Festival this year.… pic.twitter.com/pr4J8aoxwK
— 𝙅𝙀𝙉𝙉𝙄𝙀 𝙉𝙀𝙒𝙎 (@NEWSJENNlE) June 1, 2023
WWD also emphasized that Jennie has been Chanel’s ambassador since 2017, stating:
“Jennie contributed significantly to Chanel’s overall MIV at this year’s Cannes Film Festival. Chanel earned 26.2 million dollars and secured 4th place among luxury brands. Chopard claimed the top spot, followed by Dior in 2nd place and L’Oréal in 3rd place.”
"As the influence of K-pop grows, Korea is seen as a great opportunity for luxury brands and much of this credit goes to BLACKPINK, who pioneered the field by successfully mastering it and thus paving the way for future stars. in the country. Now in addition to Chanel, Prada, Gucci, Saint Laurent and Celine have selected new K-pop stars as ambassadors."
Congratulations BLACKPINK's JENNIE!
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Wow that's a pretty sizable chunk for MIV. To those who aren't sure what MIV is: Media Impact Value is an estimated value of all posts, interactions, or articles across all traditional and digital media, including celebrities, influencers, and partners. Basically It's the total estimated $$$ amount the media made from Jennie just by showing up at Cannes and the media writing and publishing it. It's mostly ad revenue for their companies. Like Jennie or YG didn't make money from it but the media covering her did.