Huayu: Starting from Fahrenheit

Chapter 445 Preparing to Enter the Video Website Industry
As night falls, the entire city lights up with dazzling neon lights.

The Wanda Hotel was bustling with people at this time.

Film and television professionals moved around the celebration banquet for "Wolf Warrior".

There were film directors looking for investment, and actors looking for projects...

In the corner, Wu Zhuo and other bigwigs who practically dominate half of the Chinese film industry were the focus of everyone's attention.

Many celebrities, seeing so many big shots here, instinctively wanted to go and say hello, but were told that the big shots were discussing business and should not be disturbed.

"You are all veterans in the film and television industry, and I believe you all know what video websites represent for film and television companies like ours."

This is a film and television channel that is completely different from offline cinemas.

Its significance to us even surpasses that of traditional theatrical distribution channels.

Wu Zhuo's gaze swept across the faces of the group of film and television company bosses, who were at least a generation older than him.

"If we can integrate such a channel, I can guarantee that the annual revenue of our companies will increase by at least one-third!"

"We all know that video websites are a great channel, and they are replacing the original piracy market and becoming the main direction of mass entertainment."

But Mr. Wu, have you ever considered that video websites are very expensive?

The government is currently cracking down on piracy. Without film and television copyrights, even with its leading technology, Baofeng Player cannot compete with companies like Tencent.

Wang Changtian raised a very important question.

For video websites, the most important thing is undoubtedly the online copyright of films and television programs, or the film library.

In previous years, things were fine when the authorities weren't cracking down on online piracy.

Back then, you could find pirated versions of those old movies on any website.

But that's not possible now.

The authorities are cracking down hard on piracy.

This has resulted in many video websites that rely on piracy for survival falling into a slow death because they lack film and television copyrights.

Wu Zhuo was certainly aware of the importance of film and television copyrights, which is why he chose to approach these individuals.

“I know, that’s why I came to you all.”

I imagine none of you have sold the online rights to your film library to other websites!

In fact, none of the owners of these film and television companies are fools.

To date, no film and television company has sold its film and television rights directly.

All of them are partnerships with a few video websites on a yearly basis.

At most, some films are signed as exclusives.

"So, you mean you've got your eye on our film library?"

Albert Yeung of Emperor Group spoke with a smile.

If they were the passive party just now, they suddenly calmed down after learning that Wu Zhuo's goal was the film and television copyrights in their hands.

The party that takes the initiative is more likely to gain benefits.

"Yes, I don't deny that I want the copyrights you all hold, but I also don't object to you investing in my Baofeng Player."

With more shareholders, we have more strength.

"As long as you're willing to invest, I'm willing to take on the project."

Wu Zhuo's main purpose today is actually copyright. He went to great lengths to invite all these bosses, so he naturally has his own agenda.

However, he doesn't object to investing.

In particular, the involvement of these film and television giants will accelerate the development of Baofeng Player.

"You mean we can use copyright as equity?"

Wang Zhongjun suddenly spoke; he had seen through Wu Zhuo's intentions.

"Yes."

Wu Zhuo nodded directly.

"The Baofeng Player that I took over will undergo a complete transformation, no longer pursuing the previous resource integration model, but instead building its own copyright library."

I even plan to invest in my own web series, which will only be broadcast online.

Previously, Baofeng Player was positioned as a resource aggregator, allowing users to directly search, download, and play movies and TV series from other platforms.

This approach was actually very advantageous in the past.

It can provide users with a better experience.

However, in the past two years, major video companies have become increasingly concerned about their copyrights.

The resource integration efforts of Baofeng gradually became ineffective.

Because other platforms, for their own benefit, no longer allow Baofeng Player to integrate and use their videos.

From the perspective of other platforms, this is aiding the enemy, Storm.

Previously, Baofeng became the number one video website in China because of its ability to capture videos from other platforms.

Copyright management was not strict at that time.

Baofeng can use its technological advantages to directly and forcibly scrape works from other platforms.

That won't work now. With improved copyright management, once something is captured, other platforms can sue Baofeng for copyright infringement.

There was no other way but to partner with other platforms, incurring huge costs and becoming an awkward website.

Why does it feel so awkward?
It's like a stripped-down version of Baidu.

I can't access the internet or other types of websites; I can only access a few other video websites.

Actually, there's nothing wrong with this way of integrating resources.

If done well, it can still survive.

Just like installment payment platforms in later generations, where you can find a large number of loan companies and collect service fees from them.

However, there is a problem here.

That means other websites don't make apps.

But how is this possible.

Almost all video websites are now focusing on the app market, expanding their reach and building a loyal user base.

And for these websites' apps, if they want to succeed, they naturally need to optimize the user experience in various ways.

Now, the user experience of platforms like iQiyi and Tencent Video is far superior to that of Baofeng Player.

It already has a large number of loyal users.

Under these circumstances, Baofeng Player, a video aggregation platform, was inevitably abandoned by everyone.

Of course, at present, Baofeng is still viewed favorably by many people.

Because apps on other platforms weren't as independent as they are in later generations.

At this point, although apps have emerged, the public still prefers to watch content on websites and integrated websites like Baofeng.

Wu Zhuo recalls that Baofeng's market value would continue to rise, reaching a peak of 300 billion.

It wasn't until other video website apps gained a foothold that Baofeng's fortunes declined rapidly, eventually reaching a valuation of less than one billion, forcing Baofeng to transform its business model.

In fact, from the perspective of later generations.

The storm is a classic example of someone who does all the work for others.

Like iQiyi, in its early days, iQiyi wasn't nearly as successful.

Its success can be attributed not only to its extensive self-promotion but also to the resource integration platform Baofeng.

Baofeng Player's user base currently ranks among the top three in the industry, second only to Sohu and Youku.

Websites like iQiyi, by piggybacking on Baofeng Player's success, have completely drained Baofeng Player's resources.

Then, the other team took off, but the storm collapsed.

Wu Zhuo certainly didn't want to do something that would benefit someone else.

After realizing that Baofeng Player's current model would ultimately only benefit others, the first thing he did after taking over Baofeng Player was to transform it.

The first thing to do is to own the copyright and then produce original dramas.

In later years, the reason why iQiyi and Tencent took off was largely due to their self-produced dramas or their investment in and exclusive online dramas.

“I am very interested in this project, Mr. Wu. Let’s talk about it privately sometime.”

As mentioned before, Huayi Brothers is the most proactive in this regard.

“I’m also somewhat interested,” Albert Yeung nodded.

"Our company can also give it a try."

A number of bigwigs have expressed interest in this project.

Wu Zhuo had anticipated this.

In the film and television industry, everyone wants to control distribution channels. But other video websites are basically dominated by established giants, leaving little room for them.

Like iQiyi, which belongs to Baidu.

Tencent goes without saying.

Then there's Youku, which has become part of Alibaba's portfolio, and the two companies have reached the point of merging.

As for Sohu, it's the leading video website.

Sohu is a large website and has no shortage of funds.

As for other things like Kuaibo, nobody considered them.

After discussing it for a while, the group stopped talking about the issue and began to disperse to enjoy the banquet.

Of course, there's also the need to deal with artists who flock to the project and directors who want to attract investment.

However, unlike when she usually attends banquets surrounded by a multitude of women, she was not like that.

Although some female celebrities approached Wu Zhuo today, there were very few, and they were all busy with important matters.

The reason is simple: Liu Shishi has been officially promoted.

With the empress here, who would dare to risk their life to come near her?

Therefore, Wu Zhuo was unusually free today. He chatted with a few directors who were trying to attract investment for a while, and then went to Wu Jing's side.

"Wolf Warrior is doing well. You can start preparing for the sequel after the new year."

Liu Shishi and Xie Nan chatted together, while Wu Zhuo talked to Wu Jing about "Wolf Warrior 2".

How much funding do you think Wolf Warrior 2 will need?

"That depends on how much you're willing to invest, Mr. Wu."

Wu Jing didn't directly ask how much money he wanted, but instead turned the question back to Wu Zhuo.

With a smile, Wu Zhuo said, "I can give you a budget of 1.5 million first."

However, I hope you can achieve a result that satisfies me.

The market has changed very rapidly in the past two years.

While low-budget films may have a chance of success, big-budget productions are undoubtedly more likely to succeed.

Especially for a film like Wolf Warrior, which was the first to achieve success.

More resources could be allocated to the second part.

"I dare not say that I will definitely succeed, but I will do my best."

When Wu Jing heard Wu Zhuo give him a budget of 1.5 million yuan right away, he was initially delighted, but then his expression became serious.

He was aware of the pressure.

1.5 million, that's already considered a big production.

Although he has already achieved success with "Wolf Warrior," Wu Jing himself cannot guarantee that the second film will be successful as well.

However, the success of the first film had already allowed him to seize market opportunities.

He has already made a preliminary discovery about what aspects of Wolf Warrior appeal to the audience.

patriotic!

He plans to create works in this direction.

"No rush, take your time. Slow and steady wins the race. I don't want you to make a bad movie."

Seeing Wu Jing's pressure, Wu Zhuo spoke up to ease his burden.

He also didn't want to put too much pressure on the film and turn Wolf Warrior 2 into a terrible movie.

"You enjoy your time as the main character, I'm going over there to chat with Dante Lam."

Wu Zhuo glanced at the crowd and saw Dante Lam, Eddie Peng, and Nick Cheung walking towards him.

So he took the initiative to say goodbye to Wu Jing and walked towards the others.

"Boss Wu!"

"Mr. Wu!"

"Zhaozi!"

The three addressed each other differently, with Nick Cheung clearly showing more affection for Cheung.

This guy is different from Wu Jing; he doesn't care too much about Wu Zhuo becoming a big boss and doesn't distance himself from him.

"Brother Jia Hui, it's been a long time."

Wu Zhuo smiled and clinked glasses with Zhang Jiahui.

Then he looked at Dante Lam and Eddie Peng.

"Director Lin, Brother Yan!"

Wu Zhuo remained humble.

He did not change how he addressed others just because he was now a big boss.

"How's the filming of 'Unbeatable' going? Let me know if you need anything."

Guild Wars is one of Legends' major projects for next year.

Wu Zhuo himself takes it quite seriously.

And to be fair, Eddie Peng's movies are actually all pretty good.

Wu Zhuo planned to give him a boost.

"Mr. Wu, I was just about to tell you that filming for 'Unbeatable' has been completed, and post-production won't be long."

I'd like to ask when the company plans to release the film?

Dante Lam glanced at Wu Jing, who was being fawned over by everyone on the other side, and a hint of envy flashed in his eyes.

He also wanted to be the center of attention.

And "Unbeatable" is his bargaining chip.

He believes the film is excellent and has the potential to achieve very good box office results.

However, this requires Wu Zhuo's support.

Whether a film can achieve good box office results depends on its quality, but its marketing and distribution are equally important.

Just like "Wolf Warrior," if Legendary hadn't invested 50 million yuan in marketing and promotion, plus the promotional strategy of partnering with Maoyan, it wouldn't have been possible.

This movie will never have achieved such high box office numbers.

Dante Lam is envious of Wu Jing's current popularity and the attention he receives, and naturally envies the company's strong support for him.

"Are you planning to release it during the Lunar New Year holiday season?"

Wu Zhuo saw through his thoughts and shook his head, "I'm afraid the Lunar New Year release won't work. The company's main Lunar New Year release is 'Journey to the West: Conquering the Demons'."

As he spoke, Wu Zhuo smiled and said, "If you think 'Unbeatable' can compete with this film, I can have the company make arrangements."

"No, no, no, I'm not that reckless. I would surely die if I ran into Stephen Chow and Mr. Wu, your partners."

I was wondering if the company could schedule it for next summer's movie season.

Dante Lam quickly shook his head.

He's not stupid, how could he dare to crash "Journey to the West: Conquering the Demons"?

Let's not even talk about him; other companies are still having headaches about this year's Lunar New Year film season!

The collaboration between Wu Zhuo and Stephen Chow, along with a host of well-known artists including Huang Bo, Show Lo, and Liu Shishi, is a powerful partnership.

This film is a major release during this year's Lunar New Year season.

If Guild Wars hits the same box office, it will definitely break even, but a massive hit is unlikely.

Therefore, he set his sights on next summer's movie season.

"I'm afraid the summer movie season next year won't work either, so I'll arrange for it to be released during the May Day holiday! As compensation, I'll have the company increase its efforts in promotion and distribution."

Wu Zhuo shook his head; even the summer season wouldn't work.

Because there are already films scheduled for next summer's release.

It was in "John Wick" that he starred in.

"Unbeatable" might still survive if it clashes with "Journey to the West: Conquering the Demons".

After all, one is a sports genre, and the other is a comedy and fantasy.

However, if it were to run into an action movie like "John Wick," the similar genre would likely result in it being torn to shreds.

Therefore, placing "Unbeatable" in the May Day holiday period is undoubtedly the most suitable.

Of course, there are definitely differences between the May Day holiday film season and the summer holiday film season.

In return, Wu Zhuo is willing to allocate more publicity and promotional resources.

(End of this chapter)