Huayu: Starting from joining the mainstream entertainment industry in 96

Chapter 498, Section 496: Postponement

In November 2003, the chill was deepening not only in the Beijing weather but also in the fierce competition of the Chinese New Year film season.

Before the listing bell of Shengying Media rang at the Shanghai Stock Exchange, a box office battle, though fought without gunpowder, concerning dignity, the market, and the future landscape, had already entered a fierce propaganda war.

All eyes are on two blockbusters that are about to clash head-on: "Kung Fu Hustle," co-produced by Star Overseas and Sheng Ying Media and directed and starring Stephen Chow, and "Hero," directed by Zhang Yimou and a heavy bet by New Pictures Pictures.

This was a fateful duel, a contest that the media had touted as a "battle of the century."

After the embarrassing withdrawal from last year's Lunar New Year release schedule and the severe setback in overseas distribution this year (failing to achieve a large-scale release in North America), "Hero" pales in comparison to the global success of "Night at the Museum."

It seemed to be holding back a sense of tragic grandeur, choosing to hit theaters nationwide a week earlier than "Kung Fu Hustle," on November 27th.

Zhang Weiping and Zhang Yimou clearly hoped to leverage their first-mover advantage to seize market dominance, stage a remarkable comeback, and sweep away the gloom.

However, they were facing a formidable opponent who had been preparing for battle and had been relentlessly attacking them with public opinion since the cancellation of the film last year—the public relations department of Shengying Media.

Wang Sheng's original instruction, "If the domestic box office of 'Hero' exceeds 50 million, the public relations department's year-end bonus will be halved," is no secret. It hangs like the Sword of Damocles over the heads of every member of Shengying's public relations department, and it has also become their inexhaustible fighting spirit.

Over the past year, leveraging its strong influence over media channels and skillful public opinion management techniques, Shengying's public relations department has successfully labeled "Hero" with multiple negative tags in the public eye:

"Form over substance," "clumsy imitation of 'Crouching Tiger, Hidden Dragon'," "detached from the masses and elitist," "an empty painting lacking cultural confidence"...

Various sharp and even harsh reviews, through film critics, self-media (forums, BBS) and partner media, repeatedly wash over the perceptions of potential viewers.

This long-term build-up of public opinion reached its climax on the eve of the release of "Hero".

"Do you remember that 'blockbuster' from last year that backed out at the last minute?"

"Investing 300 million just to create a scenery PowerPoint presentation for foreigners?"

"Save your movie ticket money and wait to see Stephen Chow's 'Kung Fu Hustle,' that's a truly sincere work!"

Similar arguments are spreading rampantly online, in the margins of print media, and through word of mouth among movie fans.

Finally, on November 27, "Hero" was released.

On its opening day, thanks to its huge pre-release buzz and still strong theater connections, it secured over 40% of screenings nationwide, a figure that underscores its continued popularity as a "blockbuster."

However, the cold market response dealt a heavy blow to New Pictures Pictures.

The attendance rate was shockingly low.

In many prime locations of the "China Film Grand Cinema" chain, the theaters showing "Hero" at 6 pm were sparsely populated, with an occupancy rate of less than 50%.

In stark contrast, another mid-budget urban romantic comedy, "Love Planet," produced by Shengying Media and released earlier, and a period light comedy, "Rouge Drunk," starring Fan Xiaopang, were filled with laughter in the theaters, with occupancy rates generally remaining above 60%.

Even more surprisingly, some cinema managers reported that at the ticket window, some young viewers directly asked: "Is 'Hero' boring? If it's boring, I won't watch it. I'll wait until 'Kung Fu Hustle' comes out in a few days."

"Save money, I don't want to waste it on this kind of trashy movie." — This harsh comment, which originated from online criticism, has actually become the most basic consumption logic for some ordinary viewers.

The market responded to the year-long media storm in the most direct way.

In his office at New Pictures, Zhang Weiping looked at the first day's box office figures, which were far below expectations, and the glaringly low occupancy rate data, his face turning ashen.

He anticipated fierce competition, but he didn't expect the audience to vote so decisively with their feet.

Sheng Ying Media's series of moves not only damaged the reputation of "Hero" but also precisely destroyed the viewing desire of ordinary audiences.

"This is malicious competition! It's a monopoly!" Zhang Weiping slammed his fist on the table in anger, but he was helpless against the current predicament. Should he increase advertising investment?

In the media sphere of Shengying Group and the public opinion field under its influence, it is like a stone sinking into the sea.

Lower ticket prices?

That would be tantamount to admitting one's own inadequacy and would further squeeze already tight profit margins.

Moreover, the theaters might not even agree.

The setback of "Hero" was like a cold front, making the traditional film and television industry, which was already feeling the pressure of Sheng Ying's imminent IPO, feel that winter had arrived.

……

at the same time.

An undercurrent concerning wealth and rankings is quietly brewing.

Rupert Hoogewerf, the British youth known as "the list king" for compiling China's rich list, is sitting in his Shanghai office, facing a pile of messy data, his brow furrowed.

He originally planned to release the new year's Hurun Rich List at the end of October as usual, but a series of unexpected changes disrupted his schedule.

The biggest variable comes from Shengying Media, a cultural media company that is about to be listed on the A-share market.

According to the publicly available prospectus and the final price range, once Shengying Media successfully goes public, the market value of the shares held by its founder and actual controller, Wang Sheng, will instantly swell to an astonishing figure.

Based on the maximum offering price of 22.8 yuan, the value of his shares will exceed 150 billion yuan!

This is only a static calculation based on the offering price.

Given the current market frenzy surrounding Shengying Media and its high growth potential, a surge in its stock price after listing is almost a certainty.

What will Wang Sheng's personal wealth be at that time?
16 billion?

17 billion?

Even higher?

This means that Wang Sheng will undoubtedly be among the top on the rich list, and may even challenge for the top spot!
It's worth noting that in the 2002 Hurun Rich List, the richest person's net worth was only over seven billion RMB.

Wang Sheng's stock alone is enough to overturn the entire ranking.

"It must be adjusted! The release must be postponed!"

Rupert Hoogewerf told his team, his tone filled with excitement and urgency, "We need to reassess and wait for the exact market value of Shengying Media after its listing."

This will be one of the most sensational events in the history of our list! A billionaire from the cultural industry, barely in his twenties… Good heavens, this is going to be a hot topic!

He keenly realized that the rise of Wang Sheng and Shengying Media was not just a story of wealth, but also a signal of a changing era.

It signifies the explosion of China's cultural consumption market and the acceleration of its capitalization process, and also indicates that the areas of wealth accumulation are spreading from traditional manufacturing and real estate to emerging cultural and technological industries.

Hurun decided to postpone the release of the 2003 Hurun Rich List until mid-December, after Sheng Ying Media has been listed and its stock price has stabilized.

He wanted to ensure that this list could most accurately capture the most significant changes in China's economic landscape that year.

(End of this chapter)