BLACKPINK’s JENNIE Generates $1.9 Million in Media Impact Value at Cannes Film Festival 2023
The K-pop star was the top MIV placement at this year’s festival.
The Cannes Film Festival concluded its latest edition on Saturday. Now brands are reflecting on the impact the event had on their media impact value.
This year, the Cannes Film Festival generated $1.3 billion in total media impact value. With the global phenomenon of K-pop and the immense popularity of K-pop group Blackpink, it was no surprise that Blackpink’s Jennie came in as the top placement for MIV, generating $1.9 million, according to Launchmetrics.
MIV is a proprietary metric that assigns a true monetary value to marketing strategies across print, online and social media in order to calculate ROI.
Jennie’s appearances at Cannes included the premiere of “The Idol,” where she is set to make her acting debut. For that event, she wore a white lace Chanel bridal dress with black tulle detail at the arms. Jennie has been an ambassador for Chanel since 2017.
Jennie wore the brand to the after party for “The Idol,” where she posed on the red carpet alongside her film’s costar Troye Sivan. For the film’s photo call, she wore an Audrey Hepburn-inspired black Chanel dress with white trim and bows. The singer shared a photo of the look on her Instagram on May 25, gathering more than 5.7 million likes.
With the rising influence of K-pop, South Korea is seen as a big opportunity for luxury brands. In addition to Chanel, Prada, Gucci, Saint Laurent, Tiffany & Co. and Celine have all brought on K-pop stars as brand ambassadors.
Jennie was a great aid in Chanel’s overall MIV at the Cannes Film Festival this year. Chanel came in fourth place in brands with the highest MIV, generating $26.2 million. Chopard came in first place generating $37.3 million, Dior came in second place generating $34.8 million and L’Oréal came in third place generating $31.5 million.
Jennie boasts 79 million followers on Instagram and Blackpink has 43.9 million followers on TikTok.