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Reported on September 15, 2023, by the American marketing platform Launch Metric, Calvin Klein earned a whopping $68 million (approximately 90 billion KRW) from a single post by BLACKPINK's Jennie. The American marketing platform tracks the Media Impact Value (MIV) and converts a celebrity or an influencer’s social media influence into monetary value.
According to the Korea Trade-Investment Promotion Agency (KOTRA), South Korea's social media users account for 46 million till 2022. The same number of people are also exposed to social media marketing and advertising business, directly reflected by an influencer's or a celebrity's influence and social media presence globally.
Recently, it has been observed that a brand's revenue generation peaks whenever a public figure endorses it on social media. This has resulted in big brands such as Louis Vuitton, Prada, Balmain, and more now tying up with influencers. And this is not limited to just celebrities with a proper strategy. Even ordinary people have become big influencers of today on apps like Instagram, TikTok, YouTube, etc.
Fans are astounded by BLACKPINK' Jennie's global influence and say "her impact on fashion industry is insane" on X
On September 15, 2023, the American marketing platform Launch Metric reported Calvin Klein's generated profit from BLACKPINK Jennie's one ad campaign on Instagram to be $68 million. The global music star is a brand ambassador for massive luxury brands such as Chanel, Calvin Klein, Jacquemus, Hera, and Adidas.
Fans express their astonishment on social media regarding BLACKPINK's Jennie, who is now seen as a global influencer.
The amount spent globally on influencer marketing has increased 12.4% in the last seven years. It skyrocketed from $1.7 billion in 2016 to $21.1 billion in 2023, according to the report by the market research company Statista.
Similarly, as per the survey by the international consulting company McKinsey, the size of the U.S. social commerce market (the purchase of goods through social networking sites) is anticipated to nearly double from $45.7 billion (KRW 60.5 trillion) in 2022 to $79.6 billion (KRW 105.4 trillion) in 2025.
Further, BLACKPINK won their first MTV Video Music Awards 2023 for the Group of the Year and became the first girl band to win the award in VMAs' history in the last 24 years. A category that was previously won by TLC, the R&B trio, in 1995 and 1999.
Meanwhile, the BLACKPINK rapper will perform on the last two shows of the group's BORN PINK TOUR 2023, scheduled to be held from September 16, 2023, to September 17, 2023, at the Gocheok Sky Dome in Seoul, South Korea. This will be the last of their world tour's 66 shows, which began last year on October 15, 2022.
