Entertainment: I am the peak

Chapter 772 Join forces
Li Qiutang and her team returned to Yanjing on the 27th after finishing their promotional tour in North America. It was already the 23rd day of the first lunar month, and the second round of promotion for "The Wandering Earth" had come to an end.

We can't run anymore, or we'll be ruined. There's no point in running anymore either. The real-time box office of "The Wandering Earth" has reached 54 billion yuan. Whether it can break the record depends on fate.

Alita: Battle Angel couldn't beat The Wandering Earth; its daily growth after its opening weekend was less than that of The Wandering Earth after 20 days of release.

While Li Qiutang was fast asleep, holding his wife's soft and sweet body, a piece of news broke in the entertainment circle.

Huayi Brothers and Huanxi Media held a press conference in Beijing to announce a strategic partnership. The two companies will jointly invest more than 100 billion yuan to produce more than 20 films in the future!
It is worth noting that the representative from Huayi at this press conference was not Ye Ning, but Wang Zhongjun himself.

In an interview following the signing ceremony, Wang Zhongjun frankly admitted that 2018 was the year Huayi suffered its biggest setback since its listing. The nature of that setback is self-evident.

"There's no need to trace the market reasons; we should focus on reflecting on ourselves." Wang Zhongjun clearly didn't want to waste any more words on this matter.

After the meeting, Wang Zhonglei made it clear that his future work focus would be on rebuilding the company's core strengths. He would participate in all of the company's film projects, from incubation and development to distribution and promotion, and comprehensively strengthen the control over the film business. At the same time, he would formally return to the film company's greenlight committee and have veto power.

Wang Zhonglei used to ignore all of this, but he was truly hurt and driven to desperation.

The reporter asked him what he thought about "The Wandering Earth" and the fact that the film was likely to break box office records.

Wang Zhonglei couldn't just close his eyes and insist that "The Wandering Earth" was bad; he only said that the movie was very good and represented the level of China's film industry.

But then he changed his tune and started promoting his own movies.

Huayi also invested in a sci-fi blockbuster, Lu Chuan's "749 Bureau".

"Filming is still underway. I believe that 'Bureau 749' will become another milestone in Chinese science fiction films."

Huayi Brothers still holds a trump card, namely "The Mermaid 2".

Wang Zhonglei had to explain once again why the film was delayed.

"Stephen Chow has extremely high standards for special effects, and the meticulous attention to detail in the effects is the main reason for the delay. I don't shy away from this; I think this is the attitude of a creator striving for excellence. We also support Stephen Chow in doing this, to present the best visual effects to the audience."

"This is a movie prepared for the Spring Festival season. If everything goes smoothly, everyone will be able to see it during the 2020 Spring Festival season."

Even a broken ship has three thousand nails; judging from this, Huayi can still continue playing on the table.

Speaking of the strategic cooperation with Huanxi Media, Wang Zhonglei described it as a powerful alliance with complementary strengths.

Huanxi Media even offered Huayi Brothers an investment in Xu Shanzheng's new film "Lost in Russia," which had just started filming last month.

As part of the strategic partnership, Wang Zhonglei promised to share Huayi Brothers' film library accumulated over the past two decades with Huanxi Premiere (the price was not disclosed), and to invest $120 million in Huanxi Media, becoming its second-largest shareholder. The two companies agreed to make Huanxi Premiere a successful streaming platform, vowing to reach 100 million paid members within three years.

Wang Zhonglei stated confidently that this cooperation would allow both companies to achieve significant growth, and Huayi would definitely regain its leading position in the industry.

Who is the current industry leader?
But that's understandable; who wouldn't want to replace autumn?

Especially Huayi, the former industry leader, how could he so easily step down?

Huanxi Media is a rising star in the film and television industry, with tremendous momentum, abundant funds, and a wealth of talent. Huayi Brothers, on the other hand, is a long-established giant, though it has declined in popularity, its influence within the industry remains. Moreover, the film and television industry is highly dependent on projects. Paramount and Warner Bros. across the ocean have experienced both boom and bust years, yet they're still thriving after decades. Who knows what they might come up with to turn things around?

Therefore, the collaboration between Huayi Brothers and Huanxi Media, along with their story of 100 billion yuan for 20 films and building a large streaming platform, has been accepted by the capital market.

Both companies saw their stock prices rise to some extent that afternoon and the following day.

This collaboration has been interpreted by industry insiders and financial media as an attempt to leverage the strengths of both sides to cope with the industry downturn.

They believe that this kind of cooperation during an industry downturn can further concentrate resources to fight key battles and overcome difficulties.

But on the other hand, does this kind of cooperation, to some extent, represent a lack of confidence in the company?
However, overall, the benefits of this collaboration outweigh the drawbacks, and the market is optimistic about the future development of both companies.

But what does this have to do with Autumn Pictures, the industry leader?
What does this have to do with Li Qiutang?
After adjusting to the time difference, Li Qiutang reacted calmly to the news, saying only, "There are countless such collaborations that can be signed in a day in the industry; the key is whether they are implemented."

Autumn Pictures has collaborated with so many companies, and every single one of them, while seemingly agreeable on the surface, has encountered numerous obstacles in actual operation.

Leaving aside distant examples, consider the recent collaboration with Berna. The two companies initially agreed to work together on a mainstream commercial film: Autumn had the budget, and Berna had an experienced team. "Operation Red Sea" made both companies a fortune, and now Berna wants to bypass Autumn and work independently.

Lin Chaoxian's new film "The Rescue" absolutely refuses to let Qiu Tian participate.

The tribute film "The Captain" only had the autumn season as a co-producer.

"Just listen to this kind of cooperation and don't take it too seriously." Zhang Zhao meant the same thing. "It's not aimed at us. We should just do what we're supposed to do and proceed according to plan."

I don't have any special plans for autumn this year. I'd like to contribute something to the celebration, but I haven't found any good material, so I can only do a joint production on "The Captain" and "My People, My Country".

Adding it to my watchlist is a way of contributing.

Three films have been confirmed to be presented as tributes this year: Huaying Film's "My People, My Country", Shanghai Film's "The Climbers", and Berna Film's "The Captain".

In summary, major companies such as Guangxian, Wanta, and Yanjing Culture did not contribute any special gifts. Like Qiutian, they all chose to do joint productions to contribute their own efforts.

Three parts are enough.

The Wandering Earth is about to break records, and it's a testament to the strength of the Chinese film industry. How can it not be considered another form of tribute?
Huaying Film Studio didn't ask Li Qiutang to direct a segment of "My People, My Country," there was no need.

Some people mistakenly believe that the profits earned from patriotic films will not be shared with the production company, which underestimates the stinginess of the relevant departments.

The state-sponsored celebratory films are primarily for propaganda purposes; as for economic gains, the government doesn't care about that small amount of money, and the distribution will proceed as before.

After all, the production company has actually spent money, provided resources, and taken on risks; it's impossible for them not to return a single penny to the company.

However, actors usually do not receive payment for appearing in patriotic films. Although it seems like they are losing out, as the actors are in the spotlight, they gain hidden benefits. It is a behavior of exchanging "film remuneration" for "political and industry resources".

For example, today, Wen Muye's assistant director came to Liu Yifei and asked if she could act in a segment of "My People, My Country".

(End of this chapter)