BLACKPINK member Jenny generated the most media value among the attendees of the recent Cannes International Film Festival. “This year’s Cannes Film Festival generated a total of $1.3 billion in MIV,” said WWD, a U.S. fashion media outlet, on March 31 (local time)스포츠토토. “Among the attendees, Jenny came out on top, generating $1.9 million (about 2.5 billion won) in value.” That’s billions of dollars in economic impact just from attending the festival.
Media Impacted Value (MIV) is a trending metric in the fashion industry. Developed by US marketing platform Launchmetrics, it calculates the monetary value of an influencer’s media appearances, including social media, and how much of an audience they reach. Jenny, who is set to make her acting debut in the US HBO drama “The Idol,” was invited to the festival’s non-competitive section. She walked the red carpet wearing Chanel. She posted the photo on her Instagram, where it received over 7 million likes. Jenny has 79.42 million followers on Instagram.
Nicknamed the “Human Chanel,” Jenny has been a Chanel ambassador since 2018. With the rise in popularity of K-pop, international luxury brands are actively using K-pop stars in their marketing. There are now dozens of Korean ambassadors for luxury brands. BLACKPINK has all four members as ambassadors. Jisoo is an ambassador for Dior-Cartier, Rose for Saint Laurent-Tiffany & Co, and Lisa for Celine-Bulgari. The ambassadors promote the brands through activities such as advertising campaigns, fashion shows, and photo shoots, as well as through social media, including Instagram.
This is the first time in the world that all members of BLACKPINK have been selected as luxury brand ambassadors. According to the 2022 Earned Media Value (EMV) ranking of global influencers released by French marketing platform Lefty, the group was ranked first with an index of $198 million. EMV is calculated similarly to MIV to arrive at a monetised value. Rose was second ($188 million), followed by Jenny in third ($148 million) and Lisa in fourth ($136 million). The members of BLACKPINK swept the “top four. In total, they earned $670 million (approximately KRW 880 billion). That’s nearly $900 billion in value for a year of travelling the world. In fifth place is American Kim Kardashian ($132 million), a “global celebrity” with more than 300 million Instagram followers.
Dior Ambassador BlackPink Index (Photo: courtesy of Dior)
Global icons and envied by many, Blackpink are a sell-out. Each member has over 70 million Instagram followers. A single post has a huge impact on the 2030 generation. They even influence the popularity of luxury brands. The industry attributes Dior’s rise to the level of “Erusha” (Hermès, Louis Vuitton, Chanel) to the “index effect”. Jisoo has been a Dior ambassador since 2021. In 2020, Dior’s sales in Korea were 328.5 billion won. It ranked fourth among luxury brands after Louis Vuitton, Chanel, and Hermès. In 2021, the brand signed Jisoo as an ambassador and generated sales of 613.9 billion won that year, surpassing Hermès to move up to third place. Last year’s sales were 930.5 billion won. Sales have nearly tripled in two years. Dior chairman Pietro Beccari even expressed his affection for Jisoo, saying, “If YG (her agency) fires her, I will take her.”