Who doesn’t want to make money after being reborn?

Chapter 387: One step into the pit, it seems like I can never climb out again

hiss!
After reading the four agreements signed by ByteDance Group, YG Entertainment and SM Entertainment in succession, Park Zhengrong was so frightened that he gasped.

Really desperate for money.

No wonder you agreed so readily to my request for cooperation. Your relationship is all about making money?

"It's unfair, President Park!"

Just when Park Zhengrong took a breath, Luo Hui complained with aggrieved face: "The main reason why the compensation is so high is that YG Entertainment and SM Entertainment have gone too far."

"After the artists under their two companies enter the YouTube and Facebook platforms, they pay the traffic fee immediately, ensuring both quality and quantity."

"However."

"These two bastards actually bullied me for being young and ignorant. When their artists joined our TT platform and WeChat platform, they didn't pay the traffic fee."

"If I hadn't reminded them, they would have continued to owe money."

The TT platform is famous for music and folk music. It is far more suitable for the accounts of artists such as boy groups and girl groups to attract money than long-form video Internet platforms such as YouTube.

Without him.

However, Park Zhengrong could not refuse the other party's request for protection money.

"They only get anxious after the account is banned."

Listening to Luo Hui's complaints, Pu Zhengrong understood: the so-called back-payment of traffic fees is actually the protection fee for reaching a cooperation agreement.

It is simply a paradise for entertainment stars.

Compared with image and text platforms such as Facebook and Twitter, this short video platform can be called a dimensionality reduction attack.

"So, it seems that so much money is actually the back-payment of traffic fees, not that I am greedy for so much."

"This is already a reasonable price."

Traffic charges are not calculated this way.

Basically, they are looking forward to having influential celebrities and big names move in. How could they charge traffic fees right from the start?

"President Park isn't going to default on the debt, is he?"

Especially in the initial stage of the platform.

"To be honest, our TT platform is actually more suitable for entertainment artists to settle and develop, and traffic is more valuable."

"And my fees are not high."

Luo Hui was right.

It's just a way of injecting funds into the leather company owned by ByteDance.

Ashley!
I almost believed you!

"..."

“It’s just on par with YouTube and Facebook.”

When Nanbang artists join international Internet platforms such as YouTube, Facebook, and Twitter, they do not pay traffic fees from the beginning.

It is also a treasure trove for entertainment companies.

Rejection cannot be denied.

If LYP Entertainment dares to refuse to pay the protection fee extorted by the other party, its artist accounts will definitely be banned.

There are lessons learned from this incident.

Whether they are artists under SM Entertainment or YG Entertainment, they all had the experience of being banned before the two major companies reached a strategic cooperation agreement with ByteDance.

LYP Entertainment has not experienced this yet.

He doesn't want this to happen.

Fortunately, Park Zhengrong thought openly: Anyway, I am not the first person to pay protection fees to Byte Music.

He figured it out and didn't worry too much. He gritted his teeth and nodded: "What Chairman Luo said makes sense. Since our artist accounts under LYP Entertainment use the traffic of your platform, they should pay the traffic fee."

"President Park is a happy person!"

Luo Hui looked at the grumpy guy in front of him with a bit of joy: I didn't even try hard, but you surrendered first.

I was ready to talk a lot, but it was all a waste.

Yeah.

Save me trouble and time.

"But, Chairman Luo, we at LYP Entertainment cannot afford that much money at once. Can we discuss payment in installments?"

Park Zhengrong looked embarrassed and made a difficult request for installment payment. Too bad.

The back-paid traffic fee actually amounted to more than 6 billion US dollars, and a security deposit of 1 billion US dollars was added.

A one-time expenditure of US$7 billion. Although LYP Entertainment can make up this figure through hard work, it will drain the cash flow.

When running a business, cash flow is the most important thing.

When a company's cash flow is drained, many things have no way to move forward, and they can only watch helplessly as the opportunity to make money slips away from their fingers.

Wait to die!
Waiting for death with huge fixed assets and brand assets is the most painful thing for any boss.

"No problem, no problem. I still need President Park's help. It's easy to talk about installment payment and so on."

Luo Hui is also very generous.

As long as the deposit of one billion U.S. dollars and the traffic fee of the domestic version of TT are stuck, it will be fine.

He would be satisfied as long as Bangzi's girl group didn't take over domestic entertainment.

As for how these guys harmed Waiguo Keren, he had no control over it.

Just make money!
"Since Chairman Luo is so interested, he must have prepared a blank agreement, right?"

"President Park is so straightforward. I actually prepared an agreement. We only need to discuss the payment method to sign a strategic cooperation agreement."

"A down payment of one billion dollars?"

"President Park, one billion US dollars is the deposit. Do you plan to not pay me a penny of the down payment?"

"Chairman Luo, please be merciful. We at LYP Entertainment are currently promoting several potential girl groups, which is very expensive."

"Since President Park is in such difficulty, let's make a down payment for the arrears on the overseas platform of TT. Our domestic version of TT will be owed for the time being."

"Really?"

"Of course it's true, we are brothers."

"..."

Brothers, let’s settle the score!
You owe me no less of the traffic fee!

At Luo Hui's insistence, Park Zhengrong provided a total of US$6 billion in financing to the leather bag company under Bytedance Group on behalf of LYP Group.

installment.

Make a down payment of US$500 million, and then pay US$100 million on time every month, for a total of sixty-five months to pay off the debt.

The extra billion dollars is interest.

joke.

How can installment payment be without interest?
In addition, artist accounts under LYP Entertainment must pay monthly traffic fees to ByteDance Group.

In specific cases, payment is based on actual traffic, and the charging standards are in line with YouTube, Facebook, and Twitter.

Deduct it from the security deposit first.

No matter how much traffic fee is deducted every month, LYP Entertainment will have to pay less than the deposit.

Negotiate, sign agreements, take photos.

It was close to noon when a set of procedures was completed, and Luo Hui enthusiastically asked Park Zhengrong to stay for lunch.

How dare Park Zhengrong stay long?
I just found an excuse to get away.

He was a little scared.

If I run slower, maybe the entire LYP Entertainment Company will become a wage earner for ByteDance.

Don't stay here for long.

This person should not be around for long.

Pu Zhengrong ran to the door of the hotel as if he was running away, and Pu Zhengrong suddenly came back to his senses: "Asi, am I here to give you money?"

"For the next sixty-five months, nearly six years, my LYP Entertainment will have to work for ByteDance?"

"What a bastard!"

However, the trouble is not over yet.

According to the verbal agreement just reached, he had to use his personal connections to help Luo Hui convince Wen Zaihu to meet.

This matter... is more troublesome.

What would the four major chaebols think if the news that he had casual contact with a sensitive person like Wen Zaihu was known?
Ugh!
Once you step into a pit, it seems you can never climb out.

(End of this chapter)