[Chapter 418: Film Rights and Celebration Party]
On the morning of August 16th, at Universal Studios, Linton arrived at Lou Wasserman's office as scheduled to discuss the distribution of four major blockbusters -- Independence Day, The Man from Nowhere, The Rock, and Speed -- for screening in China.
After finishing the coffee brought by the busty secretary, Lou Wasserman initiated the conversation, "Linton, I heard you recently traveled to China. How was the trip? Did you have a good time?"
"Not bad. The scenery was beautiful, and I really enjoyed myself. Plus, I gained some unexpected advantages."
"Oh? What kind of advantages?"
"Starting this year, they plan to import 10 Hollywood blockbusters annually. Did you know about that?"
"I did. The MPAA had a tough negotiation with their government not long ago. They secured only a 13% share of the production profits. That's a pretty low cut, and considering their smaller market and the fact that only ten films can enter per year, there's fierce competition. Honestly, it feels almost pointless -- better than nothing, I'd say."
"I see it differently."
"Really? Do tell."
"The market may seem minor now, but we have to look ahead. The population there is enormous, and their economy is growing rapidly. It's bound to become a crucial overseas box office."
"I don't disagree; that's a consensus even within the MPAA. Otherwise, we wouldn't have invested so much effort in developing that market. But that's all future talk -- it doesn't do much for our immediate profits."
"I actually believe this period is perfect for cultivating the market and expanding our influence. If we wait until their market matures, entering it won't be this easy. Plus, Hollywood has seven major studios battling for space."
"You mean we should take the initiative now and engage with China actively."
"Yes. I already made contact during my trip."
"And? Any progress?"
"I've secured agreements for four films: Independence Day, The Man from Nowhere, The Rock, and Speed. These will take up four of the ten annual slots."
"Really? Any extra conditions?"
"Yes. The additional condition is granting them TV broadcast rights in China for Independence Day, The Man from Nowhere, and Speed for 10 years."
"That's pretty harsh. Ten-year TV rights? Even if they don't pay for TV rights now, what about in a few years?" Lou frowned. From a business perspective, this was a valid concern.
"Don't worry about that. I want you to assess the value of those TV rights for those three films in China and give me a number. I'll pay for it myself and gift it to them. Also, please evaluate the full 10-year rights for Step Up in that market and provide a price."
"You're planning to give all these away for free?"
"Yes."
"Why? What's in it for you?"
"I'm investing in the future market there. It's still untapped and ripe for development.
During my trip, I didn't have to hide in public because almost no one recognized me. I'm confident this applies to other Hollywood stars too. All four films star me, and I want to leverage them to build a massive fanbase there, becoming a superstar in the eyes of that audience. It's strategic groundwork for future box office success."
"Alright, I'll arrange for the evaluation -- should take no more than three days. Don't blame me; business is business. I can't just hand over these rights for free, but since you secured four films in their market, you'll definitely get the best discount."
"Sounds good. I'll wait for your update."
"By the way, Linton, congratulations. After the success of Independence Day, your movie Final Destination is also doing great." Lou then mentioned the current film in theaters.
"Thanks. Didn't I entrust the overseas distribution of Final Destination to you?"
"Yes. Actually, its promotional plan has been brilliant. A genius idea to create media buzz around bizarre accidental deaths, tying it back to Final Destination. We launched the overseas campaign two weeks ago and expect solid results there. So far, how's the box office in North America?"
"$36.41 million in the opening weekend, $7.53 million on Monday -- $43.94 million total."
"Looks like breaking $100 million in North America is a no-brainer. You're impressive. The budget was only $20 million, right? Another low-budget, high-profit miracle."
"That's about right. Let's all get rich together. Here's hoping the overseas numbers blow up like Independence Day's." Actually, the budget was closer to $15 million, but no need to tell Lou -- better not to make him jealous.
"Ha! Talking about Independence Day, as of yesterday, it's grossed $355.32 million in North America, and before this weekend, it's likely to break the North American box office record. I'm organizing a celebration party this Saturday night. You're a key figure -- be sure to attend."
Linton paused, thinking: Independence Day was produced by his own company, and the North American release was handled by two studios. If there were a celebration, shouldn't his company lead it?
At yesterday's meeting, Robert suggested a North American box office record party. Linton considered it but rejected the idea -- his company was flying high lately but wasn't public yet; all film investments were self-funded with no external financing.
More importantly, the film was about to leave theaters, so such a party wouldn't boost box office numbers. A celebration could inspire the team internally but would probably just provoke jealousy among competitors. So he had put the plan aside.
Unexpectedly, Universal proposed throwing the party. This was ridiculous -- it wasn't even their film!
Seeing Linton's puzzled look, the sly Lou laughed awkwardly and explained, "Linton, I know it'd make more sense for your company to host and gain image benefits, but I really don't have any other options.
Our recent film Waterworld bombed big, losing tons of money, killing morale across the company. Our usual financiers are losing faith, and management is under scrutiny. Panasonic, our major Japanese partner, has been very unhappy too.
This celebration is to boost internal morale and promote Universal externally. It's also a way to show Panasonic we're still solid.
Think of it as supporting your friend, okay?"
Linton was taken aback. So that was the true motive. Waterworld lost so much, yet Panasonic hadn't unleashed rage or held anyone accountable -- it was almost too forgiving.
Or maybe because Independence Day's huge success made Universal's management redeem themselves in Panasonic's eyes. If so, maybe he should ask for some perks.
"But my company was already planning a celebration," Linton said with calculated hesitation, playing his hand to apply pressure.
"Alright, how about Universal heads the party but co-brands it with your company's name? Also, to thank you for your support, I guarantee a 50% discount on the copyrights you asked about, based on their appraised value."
"Deal. After all, we are good friends."
*****
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