Jennie Attended Recent Cannes Film Festival
Instagram Posts and Others Worth 2.5 Billion KRW
Last Year, Blackpink Members' Total Reached 880 Billion KRW
BLACKPINK member Jennie was found to have generated the highest media value among attendees at the recent Cannes International Film Festival. The American fashion media WWD reported on the 31st of last month (local time) that "this year's Cannes Film Festival generated a total of $1.3 billion in MIV," and "Jennie ranked first among attendees by creating a value of $1.9 million (about 2.5 billion KRW)." This means she created an economic effect worth tens of billions of won from just one festival attendance.
MIV (Media Impacted Value) is a metric trending recently in the fashion industry. Developed by the American marketing platform Launchmetrics, it calculates the monetary value of how much an influencer has reached a certain audience through media appearances, including social media. Jennie, who is about to debut as an actress with the American HBO drama ‘The Idol,’ was invited to the non-competitive section of this film festival. She walked the red carpet wearing Chanel clothes. She posted this photo on her Instagram and received over 7 million likes. Jennie’s Instagram followers number 79.42 million.
Nicknamed the ‘Human Chanel,’ Jennie has been an ambassador for Chanel since 2018. As K-pop’s popularity rises, overseas luxury brands are actively using K-pop stars in their marketing. Currently, dozens of Korean ambassadors represent luxury brands. All four BLACKPINK members serve as ambassadors. Jisoo is an ambassador for Dior and Cartier, Ros? for Saint Laurent and Tiffany & Co., and Lisa for Celine and Bulgari. Ambassadors promote brands through activities such as advertising campaigns, fashion shows, photo shoots, and social media like Instagram.
BLACKPINK was the first in the world to have all group members selected as luxury brand ambassadors. According to the 2022 global influencer ‘EMV (Earned Media Value)’ rankings released by the French marketing platform Lefty, Jisoo ranked first with $198 million. EMV calculates monetary value similarly to MIV. Ros? was second ($188 million), Jennie third ($148 million), and Lisa fourth ($136 million). BLACKPINK members swept the ‘Top 4’ spots, totaling $670 million (about 880 billion KRW). They created nearly 900 billion KRW in value worldwide over the course of a year. Fifth place was American global celebrity Kim Kardashian, with over 300 million Instagram followers, at $132 million.
BLACKPINK, a global icon and object of admiration, causes items they wear to sell out completely. Each member has over 70 million Instagram followers. Even a single post has tremendous influence on the 20s and 30s demographic. They even affect luxury brand popularity rankings. The industry credits the ‘Jisoo effect’ as the reason Dior rose to the level of ‘Erusha’ (Herm?s, Louis Vuitton, Chanel). Jisoo has been a Dior ambassador since 2021. Dior’s sales in Korea were 328.5 billion KRW in 2020, ranking fourth among luxury brands after Louis Vuitton, Chanel, and Herm?s. After recruiting Jisoo as an ambassador in 2021, sales reached 613.9 billion KRW that year, surpassing Herm?s to rank third. Last year’s sales were 930.5 billion KRW. Sales nearly tripled in two years. Pietro Beccari, Dior’s chairman, expressed his affection for Jisoo by saying, “If YG (her agency) fires Jisoo, I will take her.”
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