I was just thinking about taking the arts exam and you said I've been playing supporting roles

Chapter 454 The Difference Between Chen Jin and Other Celebrities!

UTA stands for United Elite Brokers.

This is a publicly traded talent agency founded in 1991 in Beverly Hills, Los Angeles, whose main business covers film, music, publishing and video games and related fields.

The company was formed by the merger of Bauer Benedict and a leading artist agency, initially focusing on film and television business.

He was able to rank among the world's top four agents mainly because of one star.

Michael Jackson!
The King of Pop.

In 95, Jackson abandoned CAA and joined UTA, which became a clear signal in Hollywood and made UTA famous overnight.

From a mid-sized company, it jumped directly to the top.

After more than 10 years of development, UTA has become the third largest brokerage firm in the United States, second only to CAA and William.

Most importantly, this company offers the lowest commission rates among several brokerage firms in the United States.

Moreover, the artists they collaborate with are quite high-profile, such as Johnny Depp, the captain of Pirates of the Caribbean, Jennifer Lopez, the world-renowned rock diva, and the famous Coen brothers, among others.

In the field of film, UTA is also quite advanced.

It is the world's first talent agency to establish an independent film division, helping independent filmmakers raise funds for their films and providing financing services.

It was established in 96, when the global film market was not as booming as it is now.

Several CAA firms followed suit, which led Nolan to switch from UTA to CAA, a move hailed as one of the biggest mistakes in UTA's history.

At the time, Nolan was unknown, while UTA's business was booming, showing a strong potential to dominate the brokerage industry.

So they didn't pay much attention to it, which led to their old rival poaching their talent. Nolan then rose to fame with the Batman series, leaving the founders of UTA with lifelong regret.

Therefore, in the past two years, UTA has focused its efforts on managing the work of its artists, while other businesses have begun to shrink.

Inviting Chen Jin was also proposed by the founder, Benedict, at a company meeting.

The North American market is basically divided up by the major agencies and is nearing saturation; now Asia is the next emerging market, and launching a globally renowned Asian superstar is the next development path that many agencies are optimistic about.

Asia's economy remains quite strong.

It's all about money.

Therefore, Chen Jin's strategic value is also very important.

……

"Haha, Chan, I'm so glad to finally meet you!"

Benedict, the president of UTA, who has a great sense of art, warmly embraced Chen Jin at the office door.

This guy was in his fifties, sporting a sexy beard and a full head of long silver hair. If you didn't know him, you'd think he was a rock-and-roll Western old man.

He does have a touch of mature, handsome charm.

This is the ultimate goal for many middle-aged and elderly white people in North America, and Benedict has taken good care of his appearance.

Chen Jin remained wary of him, unsure of his sexual orientation.

The two hugged briefly before letting go of each other.

"I already know about what happened at CAA!"

Benedict invited Chen Jin to his office and even pulled out a chair for him.

His politeness isn't his true nature, but rather a common tactic of capitalists; they become exceptionally arrogant when you're worthless, but they won't care about saving face if you're profitable.

Americans are just that pragmatic.

"Our commission rates at UTA are definitely the lowest, and the Asian market is UTA's next area of ​​expansion!"

After Benedict sat down, he smiled slightly at Chen Jin.

"If that weren't the case, you wouldn't be able to see me!"

Chen Jin made a lame joke at the right moment, and Benny Dyke was stunned for a moment before bursting into laughter.

"Haha, Chan, you're an interesting person!"

"It seems I still know too little about you. I always thought you Chinese people were very reserved. You know, there are many Chinese people in North America, and that's the impression I got from them!"

Benedict was gesturing, and Chen Jin smiled slightly: "I understand!"

"Now, let's talk about commissions, and what kind of assistance your company can provide if I set up a brokerage team..."

"What did you say to that bastard Richard?"

Benedict is quite curious about CAA, the current world's largest brokerage firm, mainly because the two companies are constantly fighting behind the scenes.

Since Nolan was poached, it's fair to say that UTA has harbored deep hatred for this old rival!
Everyone in the US knows how CAA made its fortune: it poached people and stole William's internal information, turning it into its own resources and then expanding into a large industry.

"I heard you really angered that old man?"

Benedict looked delighted. Chen Jin shrugged: "Actually, no, that rumor is ridiculous. I just wanted to lower the commission to 5%, but Richard didn't agree. But we didn't have a falling out!"

He told me to go back and think about it!

Chen Jin explained the general truth of the matter, and Benny Dyke nodded in agreement: "I see!"

"5%... Richard probably won't agree to that commission!"

"It won't pass the board's approval!"

Tom Cruise only gets this much commission from CAA, so why should Chen Jin enjoy the same rights as him?

They also have to consider the opinions of other well-known artists the company collaborates with.

Once Chen Jin's 5% commission is negotiated and other Hollywood stars find out, they will all have their own ideas and may even demand that their commissions be lower than Chen Jin's.

There are no secrets that stay hidden forever, no matter how confidential a contract may be.

CAA wouldn't make exceptions for Chen Jin alone, so Chen Jin has no choice but to compromise on this matter.

However, Chen Jin didn't need CAA's fancy endorsements; he wasn't short of money. This led to the two sides failing to reach an agreement, which also gave other agencies an opportunity.

"What about you?"

Chen Jin smiled; he could tell that the old man, Benny Dyke, was very confident.

"Haha, we're actually under a lot of pressure too!"

"However, I have a way to convince the board!"

Benedict gave Chen Jin a mysterious smile: "We can discuss the commission at 5%, but UTA has the right to terminate the contract at any time. As long as you agree, the contract can be signed immediately!"

"Moreover, we can help you assemble a qualified management team within 24 hours, and finalize all endorsement and audition projects within a week!"

Seeing Chen Jin deep in thought, Benedict said, "We don't actually earn much from a 5% commission..."

This old guy is just afraid of losing money.

Chen Jin understood what he meant.

The so-called "termination at any time" means that if Chen Jin has no value anymore, they can simply throw him away like trash.

In other agencies, there is obviously no such contractual obligation. Even if you are not famous, as long as you still pay the agency team's salary, they are obligated to help you find resources and audition opportunities.

Chen Jin clearly doesn't have one right now.

To put it bluntly, Benedict doesn't have a very positive outlook on Chen Jin's future.

He probably only felt that Chen Jin was a flash in the pan. She would only be popular for 1-2 years, so signing her to UTA for 2 years would definitely be worthwhile, but after that, Chen Jin would suddenly become worthless in Hollywood, and they would no longer have an obligation to continue serving her.

In this respect, Benedict should actually take Jackie Chan and Jet Li as examples.

These two were arguably the most famous Asian stars in Hollywood from the new millennium until 2008; however, with the failure of several films and their shift of focus to mainland China, Jackie Chan and Jet Li's value worldwide has greatly diminished.

Chinese actors have a source of income that North American agencies cannot obtain.

That is the China market.

Of all the places in the world, only the Chinese market is independent, and contractual constraints do not apply to them. Therefore, Chinese actors generally have two agencies.

Domestic and international.

If Chen Jin can't make it in North America, she can always go back to the mainland; but those from UTA, they can't very well go back with Chen Jin, can they?
Therefore, this agreement was indeed made to mitigate risks.

Chen Jin has been very popular in North America, which is certainly a good thing. It means that even with a 5% commission, UTA can still make a profit by selling in large quantities. However, if her popularity declines significantly, then the establishment of a management team and other such measures will be a loss for UTA.

Every brokerage team is a valuable asset to UTA.

They could have a great career by helping other North American artists; it's definitely not possible to rely on just one person.

Moreover, this tree was clearly becoming increasingly unusable.

For example, Jackie Chan and Jet Li.

It's important to know that when UTA was first established, U only had 26 brokers, and each broker represented a brokerage team.

Clients are limited to movie stars, directors, and television industry elites.

Eighteen years later, not only has the total number of agents swelled to about 100, but the business has also expanded to all areas of the entertainment industry, including professional sports, music, and video games.

Therefore, agents at UTA are also considered key talents and mainstays at brokerages such as CAA and William Hill.

That's their essence, not their status as so-called artists.

There are celebrities every year, but experienced management teams are rare.

"how?"

"If you agree, we can sign the contract immediately!"

"We can even promise that at least three global luxury brand endorsements can be secured immediately, including watches, ready-to-wear, and fashion!"

To others, this could be seen as blatant temptation.

Few artists can resist the allure of their management companies.

Because initially, signing these contracts truly meant instant wealth; for example, if Chen Jin signed one now, she could immediately acquire three brands, even if it was only 800 million a year, that would still be 2400 million US dollars.

Excluding commissions, the endorsement income is 2280 million.

However, taxes in North America are very high, so by the time Chen Jin got his hands on it, it would only be around 1000 million!

More than 1000 million is actually an astronomical sum for many celebrities.

If you can sign a contract and get this much money within a week, very few celebrities would hesitate.

“It’s really strong!”

"But I'm not short of money..."

Chen Jin remained calm throughout. Suddenly, she sat up straight and said to Benny Dyke, "Mr. Bauer, you should have investigated me and know that I own a company!"

"A film and television investment company!"

As Chen Jin spoke, he saw a look of surprise on Benny Dyke's face, followed by a moment of sudden realization.

Chen Jin guessed correctly.

Although the old man had investigated him, his rhetoric just now was probably too polished, or perhaps he used the same line when negotiating with artists, so he blurted it out without considering Chen Jin's own worth.

"Film Science!"

Benedict gave a wry smile and said, "Sorry, I really forgot!"

He sat in his office, genuinely treating Chen Jin as an artist, an artist that UTA was eager to sign.

A representative of Asia, a Venice Film Festival Best Actor... UTA will be the future face of Asia.

But his most important identity is one that many people overlook.

One of the most promising film and television companies in China, and currently the highest-valued film and television company in the Chinese entertainment industry. Benedict has also seen its valuation, which is nearly 50 billion US dollars, and that is only temporary.

Moreover, Chen Jin personally owns 95% of the shares!

In other words, his net worth is at least 40 billion US dollars.

In North America, this might not even rank in the top 100; but if you factor in age, even in North America, he would probably be among the top ten of the Forbes list of billionaires under 30.

Such a talented individual is also a superstar renowned throughout China; the combined value of the two is immeasurable.

"fine!"

"So endorsing these things isn't what I value!"

"The reason I asked for a 5% commission is not so that I can get a bigger share of future film and endorsement fees!"

"I just think our net worth will increase infinitely in the future, so..."

Chen Jin leaned forward slightly, looking at Benedict: "Please find me a very professional management team, that's what I need most right now!"

"OK!"

Benedict took a deep breath, and the confidence he had just displayed vanished from his face.

To be honest, UTA Brokerage is probably valued at around $50 billion, and he is just one of the founders, holding a 13% stake.

Compared to Chen Jin in front of him, he was definitely not as wealthy.

Therefore, the aura of authority he had just exuded vanished without a trace, replaced by a look of considerable admiration.

If you are not as strong as others, you can only restrain yourself a little.

That's exactly what Benedict is like right now.

"If it were the founder of Film Science, I believe many brands would be even more interested!"

Benedict suddenly smiled at Chen Jin.

Chen Jin shrugged: "In that case, wouldn't it be easier to negotiate the commission with the board of directors?"

Before releasing him, Benedict might need to come up with some rhetoric.

Now, it's completely unnecessary.

Perhaps one day in the future, when UTA enters China, Chen Jin may need to help make connections. If he were just an ordinary artist, he might not be able to do this, but as a well-known film entrepreneur in China, Benny Dyke has faith in his abilities.

This kind of collaboration is a powerful alliance, rather than a partnership between a management company and an artist.

Chen Jin is fundamentally different from the artists previously signed by UTA, even Hollywood stars.

This is also why Chen Jin can be so confident.

In the film industry, thanks to Universal's move, Film Science has gained some international recognition; given time, it will become a globally renowned film company, even if it doesn't reach the level of the Big Six, it will at least be known within the industry!

(End of this chapter)