How can you become a star without money?

Chapter 229 Eating and Taking?

Wang Yao was somewhat surprised when he received Song Qian's call. Yesterday, he had instructed Zheng Xiuyan to set a trap for T-ara, but he didn't expect them to take the bait so quickly. However, it was quite strange that the news came from Song Qian's side.

Wang Yao sent Song Qian his location, asking her to bring the T-ara members for a meeting. At the time, he was investigating the cinema market in Korea.

Korea's cinema industry is quite developed. Although it has only one-thirtieth of China's population, it has more than 2000 movie screens, which is close to one-third of China's, demonstrating the development of its entertainment industry.

不过院线基本上都被两大头部垄断的CJ旗下CGV占据市场50%份额，乐天旗下LC占据25%份额，剩下25%由Megabox（12%）和Cinus（12%）。

Cinus is a cinema chain under the Korean newspaper, which mainly focuses on the lower-tier market. Acquiring it would be difficult and its value would be average.

Megabox focuses on the high-end market, covering Seoul's core business districts with IMAX, 4DX, and 3D technology theaters.

Wang Yao had his eye on Megabox, which was priced at $1 million. Based on a 12% market share, the annual revenue would be around $1.5 million. Following the model of Kanpianer.com, the net profit could reach about $3000 million. Given the development of the global entertainment industry, it was estimated that it would start to make a profit in two or three years.

If we can secure the Goryeo cinema chain, then we can guarantee a screen share of around 10% for future Sino-Korean co-production films, which is just right—it won't attract the attention of local capital, and we can gradually penetrate the market.

After much discussion with Megabox's CEO, Wang Yao reached a temporary agreement: Skyfire Entertainment would acquire the company for 5% of its shares plus $7000 million in cash.

Skyfire Entertainment is now a company with a solid market value of $5 million, which allows them to directly absorb Megabox's middle and senior management into the Skyfire system, ensuring that the operation of the cinema chain in Korea will not be affected.

Megabox is a high-end integrated cinema with two floors, B1 and B2. B1 is a high-end private cinema with sofas and beds for 2-4 people, and also provides services such as wine and snacks. B2 has a coffee lounge and restaurant. The surrounding sales area is directly connected to the subway, forming a comprehensive entertainment space that integrates movie watching, leisure and transportation.

There is a lot of usable space after the acquisition of this cinema. It can even be used to hold offline meet-and-greets for its artists, or even set aside one of the screening rooms as a small theater.

The cinema's high-end private screening room features a 3-meter-wide and 2-meter-long double bed. There are 20 beds in the room, with just the right spacing. You can even draw the side curtains to ensure some privacy. For a movie-watching experience in 2010, it was quite avant-garde.

After Song Qian brought T-ara in, she noticed that Wang Yao was there to greet them in the theater, and the atmosphere felt strange.

"Hello, Chairman Wang, we are T-ara~" However, Park So-yeon still stepped forward respectfully, bowed, and introduced themselves one by one.

"Sit wherever you like, don't be shy," Wang Yao said kindly.

The women glanced at the large bed, their expressions subtle.

Where should we sit?
Sitting on the bed?
Isn't that a bit too suggestive?

"How am I supposed to sit here?" Song Qian asked, both amused and exasperated.

"You've never been on a kang (heated brick bed) before?" Wang Yao asked with a smile.

"How can these be the same? This is too ambiguous. But the mattress is quite comfortable." Song Qian touched the mattress.

Originally, she just wanted to be a nice guy and bring the person over so she could leave first, but now that things are like this, she doesn't dare to leave. If something happens, it's hard to say what might happen.

Although she felt that Wang Yao shouldn't be so heartless, seeing how sweet and delicious Park Hyomin and Park Jiyeon looked, even she couldn't resist touching them, let alone Wang Yao, a young and strong man.

"I've come to check out the venue. This is the only empty hall, and it's cheap enough to book the whole place. You guys can make do with it." Wang Yao said dismissively, and sat back down on the bed.

The T-ara members stood in front of the bed, looking at each other, and finally cast a pleading look at Song Qian.

Sister, help! How am I supposed to sit here?!

Song Qian scratched her head, then took off her shoes and sat down, jokingly saying, "You guys can do whatever you want, standing or squatting is fine, let's get to the point first."

The women breathed a sigh of relief upon hearing this. They decided to stay standing. Park So-yeon began to explain the company's arrangements and conflicts, and hinted at her desire to switch jobs.

“Your development momentum is indeed good and you are very valuable, but if you want to terminate the contract, the cost will probably be at least $100 million per person. Based on your current revenue of $500 million per year, a 10% return would be about $50 in profit. You would have to sign a contract with me for at least ten years for me to break even. But you can maintain your current revenue, otherwise we may face losses.” Wang Yao said frankly after hearing this.

Tara's current popularity places them among the top-tier girl groups. Based on the Korean and TVXQ breach of contract fees, this breach of contract fee is reasonable. If CCM were more difficult to deal with, the cost might increase further.

In fact, given their current size, the second half of the year is expected to be a breakout period, and they should be able to generate more than 1000 million US dollars in revenue this year. However, Wang Yao is definitely using last year's calculation method.

Moreover, the T-ara members had already accepted Wang Yao's algorithm, because they were also unaware that the second half of the year would see explosive growth.

Last year, their average monthly salary was less than $3, and this year it is estimated to be around $10 to $15 at most. But Wang Yao asked them if they could guarantee that they would be popular for ten years.

Hearing about the million-dollar penalty for breach of contract made him feel hopeless and his future seemed bleak.

It really made them feel inferior. Looking at the global entertainment industry, how many people can stay popular for more than ten years? Moreover, the idol industry itself is extremely fast-paced. Being able to stay at the top for more than four years is considered a legendary girl group.

"That's how the entertainment industry works. Only value will attract capital. Don't just look at Han Geng and TVXQ's contract terminations; it's because they possessed more value in themselves."
Although you are considered top-tier in the idol industry, this industry has its limits, and you are Korean, unlike Han Geng who returned to China, where a market a hundred times larger than Korea's awaits him.
"The three members of TVXQ and JYJ have a solid fan base. They can act as actors and singers, and they also have the support of the Japanese market. They can quickly help the company make money to make up for losses. You guys have only been in the industry for less than a year, and your current popularity is all superficial. So you can explain what other value you have." Wang Yao's voice was gentle and soft, but it still felt like knives stabbing into the hearts of the six girls.

I was full of confidence before I arrived, but in less than three minutes it all turned into a complete mess. I wished I could disappear into a crack in the ground.

"Mr. Wang means that you can develop on multiple fronts." Song Qian subtly nudged Wang Yao with her knee, gently easing the awkward atmosphere for T-ara.

“President Wang, we certainly won’t let you bear the cost of breach of contract unilaterally. Moreover, we will be involved in multiple areas of development in the future, and I know you are in the e-commerce industry.” Park So-yeon had come prepared after all.

She explained to Wang Yao that she thought they could combine the T-ara brand with the e-commerce industry and develop a co-branded coffee shop project. She believed that as long as they remained active on stage, these side businesses would definitely bring additional revenue and value.

Just like senior Kang Ho-dong.

“A side hustle is indeed a direction, but it’s not as easy as you think.” Wang Yao shook his head with a smile: “Let’s not even talk about Girls’ Generation, even Super Junior didn’t do this kind of chain business. What’s the reason?”

Park So-yeon was taken aback.

"Caffé Bene, the most popular coffee chain in Korea, was established in 08 and now has 200 branches nationwide. You are indeed very popular, but are you confident in seizing the market given your established business model?"

A business isn't like an album where you can survive just because of fans. A coffee shop caters to the mainstream public. To put it bluntly, out of 50 million people in Korea, you might have a million fans at most, so the remaining nine-tenths are your main source of income from side businesses.

A decent flagship chain coffee shop needs at least three locations in prime commercial areas, with an average investment of $150 million per location, totaling nearly $500 million.
Moreover, the biggest problem with co-branded coffee shops is that the industry is tied to you. To put it bluntly, if one of you falls in love or your business breaks down, the entire brand will be ruined.

"The fan economy is a double-edged sword. Have you considered this risk?" Wang Yao carefully pointed out.

But the more Park Hyo-min and others listened, the more they wanted to cry.

That's such a nasty thing to say, boohoo.

It feels like the coffee shop has suddenly become a dead end.

“However,” Wang Yao suddenly changed the subject, “if any of your company’s senior executives are involved in scandals, the cost of breach of contract might be significantly reduced.”

The women were taken aback upon hearing this.

"What kind of scandal is it?" Ham Eun-jung's eyes lit up.

"Unspoken rules, violence, abuse, power-for-sex deals, infidelity, and the like are all acceptable," Wang Yao said with a smile.

"I've never heard of that," Jeon Boram chuckled awkwardly. Even if they did, it would be difficult for someone of their level to participate. "Are the new members getting into the group because of their connections?" Ham Eunjung whispered.

"This is not easy to hype up, because basically every group has some connections, and you've offended too many people," Wang Yao shook his head.

The women fell silent.

"Mr. Wang, do you think we have any other value?" Li Juli, who hadn't spoken until now, suddenly asked.

She figured they couldn't possibly outwit Wang Yao, so she simply threw the question at him directly, hoping that this would be the only way to break the ice in the deal.

Upon hearing this, Wang Yao glanced at her, then turned his gaze to Park Hyo-min and Park Ji-yeon, one for his personal aesthetic value and the other for his business value.

Park Ji-yeon has decent looks and acting skills; given a little opportunity, she could be promoted to a first or second-tier actress.

Although the lights in the theater were dim, Wang Yao's bright, captivating eyes were so striking that it was hard for anyone not to notice them.

Naturally, he also took in Wang Yao's 'greedy' gaze.

Park Hyomin pursed her lips and lowered her head, her face flushed. Park Jiyeon, on the other hand, widened her eyes and quietly hid behind Ham Eunjung. Despite her young age, she knew more than her older sisters.

Although the women felt somewhat offended, they were also secretly pleased, since Wang Yao must still have some ulterior motives.

"What value could you possibly have that would allow you to earn a million dollars in such a short time? That's a good question." Wang Yao's gaze finally fell back on Li Juli, and he chuckled softly.

“I’ve heard that excellent businessmen can maximize the value of their products. I believe T-ara is a brand with great potential, but CCM is currently unable to tap into our potential. However, I think Chairman Wang has the ability to do so,” Park So-yeon said.

"Are you willing to objectify yourself as a commodity?" Wang Yao raised an eyebrow slightly.

“It’s not about objectifying myself, but about objectifying Park Soyeon of T-ara,” Park Soyeon said in a deep voice.

“If they have that awareness, I’d be somewhat interested,” Wang Yao said, stroking his chin.

"Mr. Wang, your movements and expression really resemble a villain," Song Qian couldn't help but tease.

“That’s how businessmen are, you’ll get used to it.” Wang Yao smiled. “If they all agree with your idea, then I can sign a loan agreement with you.”

"A loan?" the women exclaimed in unison.

"I'll try to help you terminate the contract and pay the penalty, but you'll have to sign a million-dollar loan agreement for 10 years. The T-ara brand will belong to me until the debt is paid off. If you do anything to damage the brand during this period, you'll face even higher and harsher consequences, potentially tens of millions in debt."

"Of course, if you work hard enough and have a bit of luck, you might be able to pay off your debts in two or three years, because I'll arrange some well-paying jobs for you," Wang Yao said with a smile.

"What is this? A student loan?" Song Qian was stunned for a moment, then chuckled.

The T-ara members all looked terrified. The more they looked at Wang Yao, the more he resembled a villain in a movie who forces women into prostitution.
“Chairman Wang, we are legitimate entertainers and we would never sell our bodies for money,” Park So-yeon said in a deep voice.

"Aren't you all just selling your bodies by overworking yourselves with rehearsals, stage performances, and appearances every day?" Wang Yao asked doubtfully.

"Oh dear, not this body, I mean..." Park So-yeon blushed deeply.

"If President Wang really asks you to do that kind of thing, it would actually be a good thing," Song Qian said with a smile.

Everyone was taken aback and looked at Song Qian with a puzzled expression.

“President Wang is one of the investors in ‘Playthings.’ If he were to pull off this kind of scheme, all you need to do is gather evidence, which should be enough to bankrupt him,” Song Qian said with a smile.

The women immediately realized what was going on.

I almost forgot, Wang Yao also has a huge reputation to uphold!
"Making money isn't that easy. You need to be prepared to endure hardship." Wang Yao smiled dismissively.

"We're not afraid of hard work, as long as we can do what we like and are good at. However, we also have requirements: you can't interfere with our group without reason like CCM does. At least personnel changes need our consent," Park So-yeon said seriously.

"Until you pay off your debts, you should try to do things that make money. There's no such thing as everything going perfectly," Wang Yao said with a light laugh, shaking his head.

The two sides have reached a temporary agreement on cooperation, but whether it's terminating the contract or taking out a loan, it's not a small matter, and Park So-yeon and the others still need to go back and discuss it properly.

"I didn't expect it to go so smoothly," Jeon Boram suddenly exclaimed on the way back.

"Smoothly? A debt of 600 million US dollars, sister." Ham Eun-jung sighed.

“But actually, judging from Chairman Wang’s tone, he seems to have a lot of confidence in us. Maybe we can pay off our debts in a few years and then we’ll really be free,” Li Juli said with a smile.

Although I felt it wasn't good to be measured by money, the thought of being worth millions of dollars made me feel a little proud.

"Actually, I think there's another good way to pay off the debt. I saw Chairman Wang sneaking glances at Hyomin unnie's chest several times just now. If Chairman Wang became my brother-in-law, maybe this debt would be forgiven," Park Jiyeon said with a smile.

"Are you looking for death?" Park Hyomin's face turned red, and after pinching Park Jiyeon for a while, she sighed.

"But if I could really date him, I'd be happy to have all my debts forgiven!"

"How come you're eating and taking things?" Park So-yeon, who had been on edge the whole way, rolled her eyes at his words.

Since T-ara is considering switching agencies, Wang Yao will not refuse the cash cow that is offered to them. T-ara is just starting out and is expected to generate over 100 million RMB in revenue this year. If there is no troll incident next year, they may really grow into a legendary girl group that rivals Girls' Generation.

They can generate at least hundreds of millions in profit every year, and even if they go solo after five years, their popularity will still be valuable. More importantly, Park So-yeon has a good sense of awareness and business acumen. If they, as idols, venture into the e-commerce field, it will definitely help promote the market of Mulan Street Goryeo.

As for the idea of ​​a coffee shop, Wang Yao didn't think there was any problem. He planned to have each member of T-ara subscribe to a flagship coffee shop as the legal representative, with Michelle and KT investing in and operating 'KT Coffee'. Once the investment was successful and the business was running smoothly, the money would be loaned out. This way, they could be motivated to make money and their funds could be quickly recovered.

KT Entertainment later invested in the hugely popular drama "Secret Garden," which directly featured KT coffee. Back then, the Korean coffee chain Caffé Bene relied on this drama to directly defeat Starbucks, dominate the entire Korean market, and even expand overseas, reaching a peak market value of nearly 2 million US dollars.

Wang Yao could use KT as a front for Mixue, leveraging the entire "Three Purifications" plan to rapidly expand into the Southeast Asian and Japanese markets. Once the time is right, Mixue could directly land next to KT, creating a strategic pattern where "where there is K, there is Mixue," thus eroding the global tea and coffee industry.

Moreover, the cost of poaching talent at this time is not high. CCM is only a medium-to-large company with no large capital interference behind it, so it is advisable to strike first.

However, Wang Yao is not planning to acquire this company because the acquisition cost of CCM may be as high as 2000 million US dollars or more, which is similar to the valuation of JYP. However, the company has many problems with its management and internal affairs. In addition, the president, Kim Kwang-joo, lacks vision and has squandered his best assets, so there is no potential for development.

The only group with potential value is T-ara, but the methods used need to be more subtle, since T-ara's main market is still in Korea. They need a legitimate reason to help them extricate themselves from this situation.

After thinking it over, Wang Yao finally found a good entry point, but he needed a heavyweight to get involved. He called his cousin Zhou Cong and said that he had arranged a fan meeting for him under the guise of inviting T-ara to be their spokesperson.

Upon hearing this, Zhou Cong was so excited that he booked a ticket overnight and arrived in Korea that very night.

I'm getting ready to meet Liu Huaying's fans tomorrow.

(End of this chapter)