Peninsula: I'm the Top Streamer

Chapter 690 Contract Renewal! An Exorbitant Signing Fee!

The frenzy surrounding Kwon Seon-hyuk's new film "20th Century Girl" on Netflix worldwide has swept across the globe like a strong east wind, completely dispelling the last vestiges of gloom at the negotiating table.

His contract with BH has also been officially signed.

The explosive growth in data, reputation, and commercial value made Sun Xiyu realize more clearly than anyone else that retaining Quan Xuanhe was not a choice, but a matter of survival.

Although entertainment agencies dominate the Korean entertainment industry, it's quite different for actors.

Because the Korean entertainment industry is a bit special.

The circle is only so big. If you spend a lot of time in it, you'll naturally get to know famous editors and directors or have connections with them. Chungmuro ​​is only so big, so it's a natural thing.

Entertainment agencies can't completely lock down artists, unless it's K-pop.

Even SM Entertainment did not completely blacklist TVXQ.

Although JYJ was unilaterally banned by SM Entertainment and prohibited from appearing on the three major TV stations, all three members are doing quite well.

He was the number one newcomer in Chungmuro, a singing king, and a top performer on the Japanese tour. The so-called ban only seemed scary to those who didn't know the situation.

Actors who rose through the ranks have ironically taken the lead.

On either side of the large desk sat Sun Xiyu, with a serious expression; the representative of the legal department; the head of the brokerage department; as well as Kwon Xuanhe and Park Jung-jung.

What's spread out on the table is the new contract text, finalized after many rounds of negotiations.

"Xuanhe."

Sun Xiyu spoke first, his smile warm and friendly.

"After this period of in-depth communication and mutual understanding, the company has shown its utmost sincerity and hopes to work hand in hand with you to create the next three glorious years."

He pushed the contract in front of Quan Xuanhe.

The contents of the contract had already been discussed and negotiated back and forth by lawyers and finalized, and Quan Xuanhe was fully aware of it.

I am quite satisfied with some of the core renewal terms.

The contract was renewed for three years.

Three years is the established practice in the industry; renewals are typically for three years. It's the unspoken rule. If it's too short, the contract might expire before you even get to watch another drama, which would be a complete loss.

Xuanhe holds 70% of the revenue sharing rights, while BH Entertainment holds 30%.

This is basically the standard for top actors in the industry, and it's also higher than the initial 50/50 ratio when they were first signed.

It covers all revenue from performing arts activities, advertising endorsements, copyrights, merchandise, etc.

The portion related to his personal attributes, such as peripheral copyrights, is 80/20, not a complete 70/30 cutoff. In specific aspects, BH still made concessions.

Of course, there's also the most important part.

BH Entertainment will pay a signing fee of 5 billion Korean won in a lump sum.

That translates to over 20 million RMB.

This is an astronomical figure. For example, Kim Seon-ho's signing fee when he renewed his contract with Fantagio was 2 billion Korean won.

Kwon Hyun-hyuk is superior to Kim Seon-ho in every aspect, so his signing fee should naturally be higher, and it must be much higher.

There are also rumors that Culture Depot offered Jun Ji-hyun a signing bonus of 10 billion won to keep her.

Kwon Heon-hyuk is still not as experienced as Jun Ji-hyun, after all, Jun Ji-hyun has been consistently popular for more than ten years.

However, with his exorbitant signing fee, BH was able to return a significant portion of the money it had earned from him, amounting to a substantial rebate.

Moreover, this number is absolutely undisputed to be among the top of the new generation, ranking among the top of all artists.

It also includes a commitment to core resources.

During the contract period, BH Entertainment will utilize all its resources and network to secure and guarantee Kwon Heon-hyuk a leading role in a top-tier big-budget film.

The production needs to be directed by a top-tier director, have a top-tier production budget, have the potential to win major film festival awards, and have global distribution capabilities.

They also promised to provide a top-tier TV series resource.

The project requires top-tier screenwriters, a top-tier production team, simultaneous broadcast on a top-tier platform, and a large production budget. The characters must be profound and groundbreaking to ensure the project's consolidation and enhancement of its position in the television drama field.

This requirement regarding resources is actually the last resort.

With Kwon Hyun-hyuk's current influence, he can easily get scripts just by beckoning. He might need the company's help with big-budget movies, but he's already undoubtedly at the top in television dramas.

At the same time, his autonomy has been enhanced, and Quan Xuanhe has been given greater say and veto power in areas such as script selection, project evaluation, personal image management, and business cooperation.

BH's role will be more reflected in the execution and service aspects.

The company will provide Quan Xuanhe with a dedicated, top-tier team of agents, publicists, legal counsel, and assistants, and guarantee a sufficient and prioritized event budget. The public relations team must possess international-level capabilities in handling public opinion and shaping public image.

And most importantly, support in winning prizes.

You know what, BH's public relations skills when it comes to winning awards are truly top-notch, and they've achieved quite a few successes in this area.

She has helped many of the company's actresses win the Best Actress award or Best Actress award, so she has definitely contributed to the company.

Therefore, this is actually a key consideration for Kwon Heonhyuk when he chose to renew his contract.

When it comes to public relations for award campaigns, it really depends on connections and networks. If you're not good at it, you're not good at it, and spending money won't help.

Other benefits include, but are not limited to, the highest standard of insurance coverage, vehicle allocation, and other small details.

Park Jung-jung, as Kwon Hyun-hyuk's manager and uncle, participated in the entire process of reviewing and negotiating the terms and conditions.

He nodded almost imperceptibly at Quan Xuanhe, his eyes conveying confirmation.

This is the limit that BH can offer, and it basically meets their core demands.

"Brother, sign it."

Seeing this, Quan Xuanhe didn't say any unnecessary pleasantries and directly stated his attitude.

Sun Xiyu's smile instantly became genuine and relaxed.

“Great, Xuanhe, this is definitely a win-win situation.”

He immediately gestured to the legal representative, "Then let's sign the formal contract."

Kwon Hyun-hyuk picked up the pen and smoothly signed his name in the designated place on the contract.

The sound of the pen nib gliding across the paper was exceptionally clear at that moment.

"It's a pleasure working with you, Xuanhe."

Sun Xiyu stood up, walked around the table, and opened his arms. This hug was much more genuine than the last one.

"It's a pleasure working with you, President."

The contract renewal was announced by BH through the media just a few days later.

The news quickly topped the trending searches on Korean websites, as it was common knowledge that Kwon Heonhyuk's three-year contract was expiring, and many potential suitors had offered him deals.

#Kwon Heonhyuk renews contract#.

Mainstream media outlets such as Dispatch published the news with headlines like "Joining Hands! Kwon Heon-hyuk Renews Contract with Compassion!"

BH Entertainment's stock price surged 15% in a single day.

The signing bonuses and contract splits are all part of the deal; the mere news of his contract renewal is enough to drive up the stock price.

Little did they know that buying stocks in advance and selling them immediately could lead to huge profits.

The securities report also directly characterized the renewal of Kwon Hyun-hyuk's contract in the context of BH Company's contract renewal.

"Kwon Heonhyuk is like a walking money printing machine; binding yourself to him is equivalent to locking in cash flow for the next three years."

Kwon Heonhyuk's annual profit is now over 100 million RMB, and his annual commercial value even extends to other artists in the company, which is truly a win-win situation.

Investor forums are also buzzing about Kwon Hyun-hyuk's contract renewal.

“BH would rather earn less to retain talent. His commercial value is catching up with previous K-pop artists, and he is even developing into a true international artist.”

The news of the contract renewal was officially announced when "20th Century Girl" was at its peak of popularity, which can be considered a positive development for the current high level of popularity and a key factor that caused BH's stock price to rise so much.

Despite BH Entertainment's strict confidentiality regarding the exact amount of the 50 billion won signing fee, rumors are still spreading like wildfire within the industry.

An anonymous post on a forum had a sensational title: "Kwon Hyun-hyuk's signing fee could buy a building; BH is practically begging to renew his contract."

The company's legal department immediately issued a warning letter.

BH didn't want to disclose the signing bonus, as that would put the company in a very passive position. Kwon Hyuk didn't want to either, because flaunting wealth would attract hatred.

The contract renewal caused a stir, but it was only discussed for two days before it was over.

After all, Kwon Heonhyuk's contract renewal with BH wasn't anything particularly eye-catching, nor did he switch to another company, so there was nothing new about it.

A few days later, during a break from filming, Kwon Heon-hyuk's van stopped in front of a very modern glass-walled building in Hannam-dong, Yongsan-gu, Seoul.

HYBE Insight Building.

The assistant opened the car door: "Brother, we've arrived. Representative Min Hee-jin arranged to meet at ADOR's office floor."

He wasn't particularly interested in HYBE headquarters, but the explosive popularity of "20th Century Girl" seemed to have made Min Hee-jin's interest even stronger and more urgent.

Recalling the sixth sense in his head about the phenomenal success of "Ditto," Kwon Heonhyuk agreed without hesitation.

This can also be seen as a small warm-up for his solo performance next year, as he tries to return to the identity of a solo singer.

Staff members who had come to pick him up earlier led him into the HYBE building.

Employees passing by the building, especially the female employees, slowed down when they saw Kwon Heon-hyuk, and then looked surprised when they saw it was him.

Who is this?
Quan Xuanhe?
The elevator goes directly to the floor where ADOR is located.

As is well known, the HYBE building is divided into various subsidiaries, including those acquired and those newly established.

The design style here leans towards simplicity and freshness, even with a touch of art studio atmosphere, which aligns somewhat with NewJeans' image.

Min Hee-jin was already waiting in the meeting room, dressed casually with a welcoming smile on her face.

"Xuanhe-xi, welcome. Qinjia thanks you for taking the time to meet me."

"He's even more handsome in person."

She immediately stood up when she saw Quan Xuanhe enter, her face beaming with smiles.

"Representative Min, you're too kind." Quan Xuanhe smiled and shook hands with her when he saw her, but his gaze also noticed the other people in the conference room.

Not staff, but NewJeans.

She stood up immediately when she saw him come in.

"Perfect timing, let the children say hello to you."

Min Hee-jin acted like a matriarch, taking the initiative to greet everyone.

Five girls dressed in casual clothes stood up in unison; they were members of NewJeans.

With a hint of nervousness and a touch of excitement on her face, her eyes were fixed on Quan Xuanhe as he walked in.

Even though they've only been in the industry for a few months and are very popular, Kwon Heonhyuk is still an artist they admire.

Min Hee-jin smiled and introduced, "Kids, this is the guy I mentioned to you before, the one I really wanted to invite, the male lead of our comeback MV, Kwon Heon-hyuk."

"Annyeonghaseyo, Kwon Seonhyuk sunbaenim! We are NewJeans!" The voice was clear and youthful.

Quan Xuanhe's gaze swept across their faces, and he nodded with a smile. "You guys are really popular lately."

Upon closer inspection, they do indeed resemble the impressions I had glimpsed online, exuding a youthful innocence, especially like middle school students.

However, they possess a unique, unadorned vibrancy.

Of course, you could also say they lack star quality.

He didn't pay much attention to these girls; if he had to give an impression, it would be Daniel and Kang Hye-rin.

A mixed-race cat.

"Alright, I've said my goodbyes. You guys go to the practice room now. Xuanhexi and I have something important to discuss."

Min Hee-jin let them leave at the opportune moment.

The girls bowed again and filed out quietly and quickly.

Just before closing the door, Haerin couldn't help but quickly turn back for one last look at this super senior whom he had only seen on billboards and in the news.

The door closed, and the meeting room fell silent.

“The children are still young, so it’s understandable that they’re nervous when they meet an actor of your caliber.” Min Hee-jin smiled, then changed the subject and became serious.

"Xuanhe-xi, I sincerely invite you to star in the music video for our comeback title track 'Ditto' once again. This time, I want to explain my thoughts in detail and why I think you are the only suitable candidate."

She took out her tablet and brought up the concept art and storyboard.

"The core message of the song 'Ditto' is to express a hazy, nostalgic feeling of youthful excitement, a sense of shadowy companionship, and a feeling of unfinished regret."

"It's not the kind of straightforward love; it's more like a resonance that exists in vague memories and the corners of the heart."

Of course, setting aside any utilitarian motives, the real reason Kwon Heonhyuk agreed was that the song was indeed very good.

Especially since this song was released when China had just opened up to the public, it was a big deal for many K-pop girls.

Listening to this song while lying in bed with a fever and sore throat always carries a special meaning for me in the years to come.

"After watching '20th Century Girl,' I'm even more certain. The youthful spirit and the eyes, the atmosphere that can instantly transport people back to a certain era, are exactly the kind of symbol we need that can carry a sense of time and evoke widespread empathy and imagination, rather than just a simple character."

She pointed to the storyboard: "The narrative of the music video tends to be stream-of-consciousness and fragmented. It doesn't need too many lines or complex interactions, but every look, every silhouette, or even just a quiet scene must have enough weight to support the emotion."

“Xuanhexi’s performance was really excellent, so this is the kind of feeling we especially need.”

Kwon Hyun-hyuk listened quietly, his fingers tapping lightly on the table unconsciously. He had seen Min Hee-jin's enthusiasm many times before; now everyone was enthusiastic towards him.

He understands why many celebrities get arrogant after becoming famous.

It's easier said than done to remain clear-headed while being the center of attention.

There's nothing wrong with him getting to know Min Hee-jin. Min Hee-jin's operational capabilities are undeniable, with a proven track record and things she can learn from.

As for the later disputes, to be honest, they had nothing to do with Quan Xuanhe, and he didn't care.

Kwon Hyun-hyuk may have considered having Min Hee-jin as the creative director for his album, but after thinking about it again, he decided against it.

Because other people saw Min Hee-jin's abilities and wanted to try and ride on her coattails to become as popular as New Jeans, but the results were mediocre and didn't add much value.

This person is Kim Taehyung. His solo comeback creative director is Min Hee-jin, and he even said that he took the initiative to invite her to plan his comeback because he liked the pink tape style she had previously planned.

Take those polite words with a grain of salt; the truth is, she's just smitten by how incredibly successful her NewJeans campaign was.

This is only natural, but his comeback didn't bring him instant fame, except for the boost from his existing fanbase.

This shows that such attempts to piggyback on others' traffic are not very effective.

While Kwon Hyun-hyuk and Min Hee-jin were discussing, the girls who had just gone out started talking amongst themselves.

The door closed gently behind me, shutting out the serious atmosphere in the meeting room.

In the corridor, the five girls who had been so well-behaved and quiet just moments before seemed to have had a play button pressed, and their steps became lighter.

Haerin let out a small breath first, her fingers unconsciously rubbing the zipper of her coat, her cat-like round eyes still retaining a hint of confusion and brightness.

"He's even more three-dimensional in person than in the ads, very handsome," Daniel exclaimed with a smile, her eyes sparkling. She's quite outgoing and lively, and more like a foreigner.

"You can feel that aura even through the table, it's amazing."

Kim Min-ji nodded, her voice filled with a sense of novelty.

"Hmm, so tall, looks very imposing."

She gestured to illustrate the oppressive feeling that Quan Xuanhe had created when he stood up.

Hanni chimed in, "His voice isn't loud, but it's very powerful, and you can't help but listen to him. Does that mean everyone seems especially... well, enthusiastic?"

She came up with a more subtle word.

Haerin recalled the glimpse he'd stolen as he closed the door and added quietly, "His smile... it's a little different. I can't quite put my finger on it, but it doesn't feel like a full-on smile."

She tilted her head, as if pondering that subtle feeling.

“After all, they’re actors,” Minji concluded, her tone understanding.

"He'll be the male lead in our music video? Wow... it feels a bit unreal."

To be honest, the members of Newjeans were well protected before and after their debut, so they are more natural and unpretentious than their peers.

Of course, this ultimately did not result in a good reputation or a good outcome.

(End of this chapter)