Wang Changtian: the light is how to create entertainment empire?despite creating a 'Thai embarrassing' 1.2 billion at the box office, but Enlight Media president Wang Changtian still think the film is not the most profitable to sell, which is why? In film production, distribution, screening of the industrial chain, Wang Changtian considered the most profitable release, but also the beginning of the reform of the light from the issue, which is why? Hand travel companies to invest in the media is a very good practice, which is why? Wang Changtian spread today sampajanna College Innovation Summit made a speech, made answer to the above question, and tells him about the 15 years of the Enlight build into an entertainment empire, very exciting. i dark horse of the speech made some sort for everyone to share. The following is Wang Changtian dictation, added subheading i dark horse: the entrepreneurial process: traditional paper media to the founder of the light, experience in all areas of the media industry 15 years ago, I came out from the newspapers. When the television to be up, I joined the TV, the Beijing TV station for some time. Later, because I made a mistake (error they sense), he took me to the suspension, and I angrily out of their own business, and have done it for 15 years. This 15-year period, I experienced the ups and downs of China's media industry, witnessed the impact of technological change, such as the rise of the Internet, the rise of the entertainment industry and so on. So, all areas of the media industry, I have some familiarity with, and I am now doing is to make an entertainment business, so experience may be more deeper. I did so many years, in 2011 the company on the market. But what I really like is with the famous 'Thai embarrassed' about the course, with a relatively low-key I have a certain relationship. Because media people there, always relatively low-key, high-profile entertainment industry who are more, I have been on a media person from the home, it has been more low-key. 'Thai embarrassing' influence seems this thing than I listed more bigger, in fact, I always thought that listed this thing to me is the most important, 'Thai embarrassing' but my business career in a product only, and The products are not continuous, but the project of the product. This shows the film in which the entertainment industry's influence is indeed in the most high-end products. Success 'Thai embarrassing', 'To the youth', 'Chinese partner,' and so this series of films, so that the light all of a sudden become a leader in the field of cinema, there is this get a lot of cooperation and investment opportunities, so the film really It is a leader. How to enter the film industry? Where is the future of Chinese film? See in the United States is how to do it! Situation 1 US entertainment and media industries: film can only contribute cash flow, but the most profitable media business in China or the film industry in the future will be how to develop? If you are interested in social capital into the industry, how should you enter? This is a question I recently asked the most. I want to answer this question, it may be most important is that we find a frame of reference, I personally think that this reference is the US entertainment industry. All the major US media and entertainment group has film business, but the film is not their core business, because money is concerned, the film is not the most profitable, surely the most profitable media. For example, in the present case is still TV, News Corp., Fox, Warner has a WB television network, and later with the United States has a public television merge, this is the fifth-largest television network television, it is also HBO as well as CNN . Global Group have NBC, Disney Group has ABC, so TV is still the most profitable business, the movie business is their pearl. We look at China's recent stock price of several companies, all with the film's release and change, the number of expected box office, reflecting the market to bring some volatility, I think this is reflecting our views on the movie, that movie is Engine type of business, but it is not a real contribution to the cash flow of the business, the problem is too project-oriented business continuity rather poor, so the relatively large fluctuations in cash flow, characterized by relatively small year Danian obvious, so it Media need to make cash flow problems. In all US media and entertainment group is plus media and entertainment, all the media plus full entertainment content plus channels, which is a common pattern for all companies, without exception, European companies are the same. So I personally think that this is the trend of China's future development of media and entertainment, in the future we may have about 10 or less than 10, a large media and entertainment group, the content they produce, in addition to the channel, and this channel in addition to the traditional media outlets, as well as new media channels. And in terms of content, movies, TV shows, TV series, music, games, and even a theme park, and so are their contents. Light just now found an opportunity to cut from the movie. But I do a movie, all the people are not optimistic, I SFC listed, the most frequently asked questions, all GEM Review Committee, and I would go that day, all of issuance examination committee member, they are most worried about is light Pictures can not do in the end? Because they said before that there are so many companies have done a good job, like the Huayi, Bona has done a good job, and you do not have experience in this area what to do? I convinced them that we had a good day would be, but there has been no other company would. I had thought that I would go home too, and I also went to congratulate the results to see if he cold face not talk to me, then I know that we too will be, and they have not seen. But then we answered with facts, in such an industry inside, in fact, can be innovative, so innovation is you go into every industry and can do the most important premise. But to enter this industry, there are some rules. For example, there is a division in the film industry, the film and television are very different, China now has more than three thousand drama company, registered in about 4000, I assume that there is no part of doing business, probably at least 3,000 family drama companies, hundreds of companies will often have a product, there are dozens of companies have done relatively large scale. But its model is, I am a person can set up a company, I find a script and all others in the community can go to buy, buy after you put money into it over him on the production of a thing, as long as when you sell find some TV stations, TV stations in China will now be able to buy about 10 TV series, sold almost, you buy him something good, so that this is a simplification of the operation, so in order to accommodate a lot of companies, it is difficult It appears giants. Because of this workshop production of restricting the development of the drama industry, the threshold is too low. The film industry is not the same, it has a strict division of labor, for example, China now has about 1,200 film companies regularly works have appeared, such as two or three years, within a year or two he will produce a works, but five six companies, mostly integrated film company, accounting for more than 80% of the total box office in the United States what is it? Former six companies accounted for 80%, so we see like Universal, Disney, Sony, Columbia, Paramount, and now with the recent addition of a Lions Gate, Lions Gate is the only exception, he gradually from a production company It converted to a distribution company. There is another anti exception is MGM, who is one of the eight American, MGM was once a good company, but MGM's problem is that he does not rely on a media group inside, he is an independent development After the film company, he met several great risk of losing money is to do a few films, the company went bankrupt and was acquired by others who were all under the Media Group, these companies are leading. They had started, but also production companies, such as they are one hundred ninety-one years, two years of starting up, is that the film's production company, but they rely on the production of the film is gradually discovered not long to go, because you Number of films a year to be able to make their own must be limited, it is impossible to make unlimited, but there is a channel, there is a way to make him so long, that is the issue. Because the issue is not necessarily your own making, you can invest, you can entrust the production, even if you are a proxy issue, so these companies are usually at about 15-30 each year a number of such works. Light last year and are probably about 10, because this year has moved to the next year of some works, I work next year probably 15-20, the highest number of works I can do about 25. Also almost the same. But as a production company in terms of, you can do three films a year, it is a big production company, but there is risk there will be three works, we now produce about six or seven hundred a year unit, seven or eight hundred movie, about two hundred films can be released in theaters, the movie probably has dozens of works is to make money, others are paid with. So how do you ensure that your several works will be able to make money? Is likely to put a work all paid with money, how much money in this industry are not used, I had to see some people, Niuhong to come, and say I do mine, real estate, money can not get , or middleman will be introduced, the people do not care about money, money, tens of billions, hundreds of billions, hundreds of millions to vote, more than a billion in the movie playing on top of a play, accumulated a little experience, playing the brand, I say all nonsense, no one want to make money in the movie, because if you do not make money, is an insult to your intelligence. We all know that the film itself is a high IQ, high EQ, but also the efforts of the industry, so he did not want to lose money. 2 How to enter the most profitable film industry? You know how much the film industry rules? To do it the issuing company but you want to get into this industry, we must first know that this industry is to have such a number of laws, to do large companies can only do distribution company. But you have to do a regular movie company is actually quite easy and you can become one in the future there will be thousands of Chinese film production company, how to start? Very simple, especially at this time to go now, very Air Jordan 8 Retro simple, is that you first get a copyright work, copyright works particularly good, you can enter. For example, so many of the best-selling novel, you get one, in fact, we are not to see the price, and I know the copyright of a work is 10 million won, but we still rushing to cooperate with him, hundreds of thousands , millions are. But you find a way how to judge these works can fire, you have to ask young children to ask these kids to see what books you buy his copyright over, buy up the second step you put it to a distribution company, You say that I now have such a theme, you are willing to make the investment? We are willing to do the release. If both companies do not want to invest, do not want to do the issue, it is almost certainly the risk of this work is more than 80%. If he says I'm willing proxy issue, but I do not want to invest, that is to say this work may have 50%, 60% chance of success, but as a distribution company, he was not willing to take this risk, so he did not want to vote money into it, because the issue is very difficult to lose money. Release Overall, the box office you can also cover your 宣发成 this, there will be a small amount of risk in this regard. If the issuing company said I would put money, basically for companies like us, I think 80% of the risk is avoided, almost a little company for a 60% risk can be avoided out, is greatly improve the success rate, because the issue is that everyone in the market to judge, his multi-angle, three-dimensional judge also some of his experience, these things are a production company can not be replaced. Because the production company often said that he would want to get well, you see why I wanted to make this film it? Had so many similar films at the box office, he said that you could see us this film a little bit worse than his, his 60% or 50%, I can count money, ah, or that my film is 30 million cast, 8000-90000000 I can ping this, then I think this film how much of a market, he is judged according to their cost, it is assumed that he will not lose money to judge. There are other words in which a director, which has been an actor how, how much box office, and they often take are relatively high at the box office, such as Baoqiang, Baoqiang 'Thai embarrassing' 1.269 billion, but there are relatively low the film, he said WangBaoJiang 1.2 billion at the box office, it is now he starred in hit half, 5,6 one hundred million I have money, and he tends to make such judgments. But the issue is not so simple companies usually judge, he will say what kind of schedule which competitors have now audience tastes change, you appeal to the female audience in the end is how much, because women are the decision to buy a ticket the most important factor, like you can not move above feelings of these women, only men move movie, the box office will not be very good. So we see a lot of my films especially hard, particularly fierce, posters very dark and dirty, they think this is a texture, which is the male brain, because women like to see a beautiful, stylish, have feelings, precisely in Chinese women and in particular the problem is not the half of the sky, at least in the film industry, I think we can play 60%, 70% of the deciding factor. For example, the director of the judgment as well, under the director Normally, you would know that he collaborated line or not, but you, as a production company, you can work a few ah? The issuing company can publish how much work a year, ah, he would know the industry which the director is the line, which the director can not, will not overspend, will not change in the middle of the script, the actors are willing to play the director of the play, he can find out what kind of actor do? There are actors question which actors and what is the best mix of actors, not that I turn to anyone who is going to play on a certain line, and who take the job but he is such a judgment, there are few Chinese actors themselves will be able to carry a box office, which very few people, but usually you can not find. But some people grouped together will have a chemical reaction, the audience will have expectations, because the film's box office the main driving force is the audience for this film expecting you, he wanted to see you have no problem, unless you back reputation out of the question. So if you want to enter the film industry, they must find their own position. 3 the light is how to build the whole media industry chain? Distribution system from the ground up and now the film industry has a lot of errors, such as many small companies up to do his release, he said the issue is a lifeblood of this thing, I can not put to others, the problem is that you only do a few a year movie, you build a distribution system how it? The distribution system, its system is very complex, my reform from local terrestrial distribution system began. Before that a distribution company within about 10 people, with more than 1,000 theaters across the country probably deal, but then we found the number of very, very many theater, cinema theaters have not listen, because so few theaters, major of cinema so few, they released the film by way of drama, then we do not find the time to listen, you have to get the local theater, so I built a resident of 100 cities distribution system. These people live in a place where all the local people, who coordinated the theater every day to coordinate local media carry out his promotion, etc., the model was built five years ago, when everyone laughed at me, saying that this is not fun? Movies like this thing can be as cabbage turnip sell it? You find a cinema theater will give you sell it? Now proved to be no problem. But also to establish a propaganda system. Now many film companies are outsourcing the publicity, but an outsourced publicity and propaganda department Nike Shoes an internal operation is completely different, such as outsourcing division, said the publicity you gave me one million to dominate me, I spent 20 , 300,000 would be finished, and the rest of all my profits, because you give me publicity expenses, and did not give me count the profits, you did not say to you this is the cost of one million, plus 200,000 is your profits, so you do not count, so you can only be so stingy, but an internal propaganda department, he would not have wanted this. There trailers and posters, to make you want to Air Jordan 14 Retro get out, and now we are doing so, the problem is that the companies that trailer, posters company they understand the market it? I just said those cool, very dark things are not all they are made out of it? Hit the big signs Air Jordan 7 Retro on, walked over to see who you are and who, how you can attract the audience? So when you want to internal operations, you can use market sector perspective to judge, to guide them to communicate quickly, rapid improvement, this child is all my own doing. Even some songs I have made himself. For example, 'The Four' good to hear a song, that song we call on everyone to write this song, 10 people submitted the lyrics, we have the president of a division, we have two internal learning from abroad a child compose music, just to have an artist inside Jiaohu summer, put it sang the song once on board the list of the top few, this thing have to go deals. There are movie premiere conference. Under normal circumstances, is to find an outsourcing company to do, but also a program of things, but most important is not a conference, you engage in a ritual to do an action, like martial arts athletes, tricks incredibly beautiful, it is in recognition of the problem not war, war to the kind of meat is. Therefore, the most important of the conference is to find a news hook, trying to strengthen the news point, and then point to the news media to let it spread out, amplification technology. But we see a lot of the conference is not to do so, looks very pretty, star behind a hotel out of a backplane, large screen put up the trailer would be finished, the media can not find something to write. These things are a matter of you as a distribution company to be considered, so a production company is really very difficult. Especially in the last sector was particularly severe dig dug, a publicity director who now have to open 1.5 million salary, the person underneath, others were dug, but then said I could not in the past, because he said I was passed, others I expect him to give me supporting this resource, give me this whole support, so I have no way to do it in such a system, I can do things inside. In the end I do not think I have done a few days you will not, in fact, I did not do wrong, your system is not perfect, this is a problem. So the distribution companies do not do. 4 Enlight Why not build your own theater? Misunderstanding what the movie industry? There are said to do the film company to do theater, theater is what business is it? Cinema is a business property. With a department store, supermarkets are the same business, but its contents is just a movie, the movie does not matter any connection you are not you produced. Means companies do not have to do a movie theater, the film is content production, marketing, distribution, and stores do not have to do it themselves, who said Haier must build a store called Haier store, build a store called Gree Gree Stores may not be right? Similarly Gome, Suning there is no need to do all the electrical appliances, which commissioned the production of electrical names are, the name called Gome, Suning, there are some in the industry division, the division of labor is a boundary. I just said that distribution companies are some things you can not give it to skimming out, but that does not mean that all of the things you can do, I was the only one not doing the movie theater company in the country, families are doing. Even some companies say that I want to enter the film industry, I will start doing theater beginning is wrong thinking. I did not do just to keep all of the theater with the best relationship, once I entered this field, I told the other theater became a competitor on my video movie, I own rows of the theater, there may be box office not affect my income, but multi-row means I have to squeeze people's space, squeezing people's space, just that the film is supported by a theater production company, if I do not give him exclusive, on his side anxious, you light the film I do not give you row. The third point that you are going to do the film company signed artists, Wang Kai is an excellent host so we signed him, but you see, I did not sign any film actor, movie actor because you sign him or not play with him? Do you want to use tens of millions, hundreds of millions of money to train a star out of him, then you lose yourself in there? This case is now the industry is a lot of problems that we all call you particularly stupid. I obviously do not want people to call me stupid in this industry, so artists can not think about this thing, can do it, can not do not think about too. So inside the industry these errors, first up to make it clear he's not to be dazzled by the effects of Vanity Fair, really glamorous very interesting, if you do well, then a lot of money, but on the other hand, once you do worse, do bad to your shame is quite nasty. 5 In addition to film, what is worth the investment? I now and then from the movie industry to other industries involved in some investments, TV programs children we are still doing this, I think this child is the most important issue market. I am now in CCTV and two sets of five or six programs, dream choir, dream star partner, is really, super weight loss king and so on, but to be honest, I do not think this child has great market space the most important is the government's control, and now each Administration basically became TV's chief editor's office, and any program you want on the whole to the General Administration to grant, in which case your company is not contribute much. I'm doing drama industry investment. We voted in my opinion the best Chinese drama company, of course, very expensive, expensive is because he is good, so afraid of expensive, I fear not. I also voted another drama company, there is also talk of a company, if done in the TV industry consolidation we basically completed. How do I watch TV? TV market is now about 100 million purchases, was very prosperous but also the birth of a number of listed companies, but now it also encountered the same problem, STAR can spend more price to buy less and less drama of TV channels, but also often introduced by state restrictions on the costume, and what famous shot of restrictions, limiting change screenwriter shooting, etc., often these things have caused great losses to the industry, so this child did not tell the truth space so great. I think the drama industry is experiencing winter, in 2014, when the situation will be a lot of companies can not survive drama, drama sold. But the big companies will still continue to grow, we can not have three thousand, four thousand drama companies, there are hundreds of pretty good, and then there are less than 20 companies doing well, these companies usually either next to the big media mergers and acquisitions Entertainment Group, or its own listed companies on social, basically become a big company's studio. Now that is some of the new opportunities we see in the stock market have reflected very popular game. Hand tour page tour of some investment acquisitions in this area, in this respect, I think the market's perception is right. I have been in the past two days with a hand travel company exchanges, they believe mobile games probably not a long future, to reach 100 billion size. We are now so big influence on the movie, almost 22 billion, of course, the next movie which together have a space, we are now the movie box office accounted for 80% of the film's revenue, 90%, but the US is 25%, it means and said other royalty income, derivatives income children Air Jordan Women accounted for a bigger piece of proportion, if online piracy in China managed to live, China's film will, for example, 50%, has doubled our size, box office accounting for 50%. If we like the United States, we are now the film industry is a 100 billion immediately scale, so this child is his space. Last time I told them to fight piracy together Zhang has now received the results, so pay movies online will be the next step up, this is our next step to see an opportunity for the film industry. But you see the game is directly charged him props up what he could have so quickly, about a year increase of 100% to 200%, page tour still has tens of percent growth can be maintained, and Hand tour page tour and now are relatively light game, depending on the brand, IP dependence, very dependent on these new IP, a because of its relatively short life cycle, production is relatively easy to become a fast-selling product, so He wants to promote rapid to rapid promotion, the most powerful means been IP. So the film is one of the best's IP, we see the United States of Resident Evil, Tomb Raider, etc., now also made into a movie of Warcraft, this is the game adapted into a movie, but a lot of film and adapted into a game. So the film companies, film companies, and even I think this copyrighted novelist, publishing houses, the next step may be to establish some relationship with games, animation with the game also has a very close relationship. So we are now to vote game that is part of the content, and the development of its relationship with technology and very. For example, when the form of 4G will change the game. A related category is the animation company animation now accounts for our entire movie box office ratio is 5%, 6% in the Air Jordan 13 Retro Chinese market. In the United States almost 15%, if we reach 15%, which means that this year so that we should have three or four billion animated box office, and that in fact the difference is too great a distance, our animated film quality is still very present low, but the Chinese people have a feature that is especially fierce thing to do, particularly fast, three years to finish the journey, I completed five years, so the animation industry in such a way to go, I think that in three or four years time inside, China will likely 1 billion at the box office animated film, about two to three years, there Nike King will be five hundred million level of animation, of course, at this time the big movies, live-action movie about the 2015, 2016 In time, there will be one billion chip twenty-three box office of the film, while Thai embarrassing record next year is likely to be broken next year there will be 15-2000000000 box office of the film, this seems to me to not have this hope. Of course, I hope next year is concerned with myself, I can break my own record. I'm doing a movie called 'Shaolin Temple', we hired an internationally very famous Chinese director to director, I think this film it has that potential, single over 10 billion dollars, that is to say at the box office is 60 one hundred million yuan, at least I think half of them in China have created. So generally speaking I think Chinese word. This way of thinking and behavior of the Chinese people, so that any one of our industry will happen leaping, leap growth, so while there are plenty of opportunities here, because of the rapid growth of the industry, it's the opportunity to be most welcome to join the film industry. THX!