章節 247: Vision
Legendary Pictures established a strategic partnership with Warner Bros. in 2005, marking Warner's first collaboration of such depth with a non-subsidiary entity.
However, all of that was in the future.
Now, Thomas Tull had just secured funds from Wall Street and was openly preparing to embark on a new venture.
Coincidentally, during the previous period, the rumors emanating from EuropaCorp caught his attention, leading him to take notice of Firefly Films.
Under ordinary circumstances, he wouldn't have paid attention to such a newly founded small company. Yet, while engaging with top-tier players like Universal, Paramount, Disney, and Warner, he repeatedly faced setbacks.
It was then that he realized that with his limited capital, these giants wouldn't give him the time of day.
Once he grasped the situation, Thomas didn't give up. He continued reaching out to these major studios while shifting his focus downward, seeking out mid-to-lower-tier film production companies.
Companies like Lionsgate, Miramax, New Line Cinema, and so on.
But the issue was largely the same. Major players like Lionsgate with their international capital power weren't interested in collaboration. And companies like Miramax, which concentrated on low-cost production and profited from their own Oscar-centered films, didn't require any injected capital; they were already functioning well on their own. As for New Line, they were in a similar situation. Their prospects were good in recent years, so there was no need to take on extra capital and share risks.
With all these considerations, Thomas found himself in a bind.
What he was interested in, they weren't interested in him, and what he wasn't interested in, clearly had no chance.
After all, he had never even considered projects with budgets in the hundreds of thousands or millions.
Seeing those industry giants unwilling to engage with him, his attention settled on one company: Firefly Films.
After conducting thorough research, his determination grew stronger.
Firstly, their distribution channels were secure. EuropaCorp had overseas channels and had signed a three-year long-term cooperation plan. In the domestic market, things were relatively straightforward – representation and distribution were not a challenge at all. Secondly, the company had great potential. Their first announced project was a surefire hit at the box office during this period, a sequel to "Saw", and Lyman's past achievements were impressive, with consistent profits that offered a remarkable return ratio, a rarity in the industry.
Furthermore, the equity structure was clear, as it was a newly established company. If he were to invest, there wouldn't be much internal wrangling involved. When he was dealing with Universal, he spent over a month, moving from the marketing department to the distribution department, and then to the production department, without encountering anyone with real decision-making power. The power distribution within the company was truly convoluted.
Summing it up, Thomas felt that this might be an opportunity.
After all, he hadn't been involved in film production much, lacked experience, and instinctively leaned towards those with a track record and secure market presence. He wasn't concerned about how much money he'd make, but at the very least, he didn't want his investment to go down the drain.
Feeling that the groundwork had been sufficiently laid, Thomas smiled and spoke, "I'm here today to sincerely seek cooperation with your esteemed company. A collaboration that can be mutually beneficial."
Lyman glanced at him with some surprise, but after a moment's thought, he realized it was likely the case. In their circle, what else would the owners of two unfamiliar film companies discuss if not collaboration?
"Is that so? Could you briefly explain what kind of mutually beneficial cooperation you have in mind?" Lyman adopted an attentive expression, as if listening attentively.
"I have available funds, and you have projects. Don't you want to develop major productions in the industry?"
...
Lyman didn't respond immediately. He cast a glance at Thomas, then with genuine interest, began inspecting the patterns and packaging of the cigar box in his hand, as if appreciating the craftsmanship.
Thomas certainly knew that this was an attempt to get him to reveal his cards, and he wasn't one to beat around the bush. He began, "I can invest in projects within your company, $500M, even $1B is possible."
"Our Legendary Pictures has ample capital. Many of Wall Street's private equity funds are our allies. We have substantial liquid funds to control. I can assure you that as long as we cooperate, the global film market will open up to us. Even if you want to shoot a massive production like "Titanic", we can make it happen."
"Furthermore, we can stipulate in advance, even write it into the contract, that Legendary Pictures won't interfere with your company's project filming. We are willing to grant you the highest level of creative control."
"As for distribution, you have the final say on who to collaborate with."
"We can abstain from film rights, as long as we share the profits."
...
All this back and forth amounted to empty words.
Lyman wasn't oblivious to the details of Legendary Pictures.
Apart from some capital, they had nothing else.
Talk of markets, collaboration, non-interference with filming – it was mostly bluster.
Things they couldn't actually accomplish were being flaunted.
You have distribution channels, media resources, and production capabilities. Do you? You don't.
And you talk about what?
And as for grand-scale productions, do you not have conditions for capital investment? After investing, can you easily mobilize funds?
They hadn't touched on any key points, yet they expected to hoodwink him.
Heh.
"Mr. Tull, our company has just been founded, and internal management is still a mess. Even if we have the intention, we can't take action."
Lyman pretended to express concern. "Furthermore, I'm familiar with your company's situation. Do you really think there's a necessity for cooperation between our two companies?"
A rhetorical question, a direct blow.
Currently, Legendary Pictures might look impressive on paper, with talk of Wall Street, financial tycoons, and stacks of chips behind them.
But alas, it was all for show.
The film industry wasn't finance. If you couldn't present concrete projects, couldn't guarantee exceptional project execution or profitable prospects, and lacked the capability to produce films that could smoothly find their way to theaters, then what use were you?
Even within their own house, they lacked the ability to generate original content. If they sought collaboration, why should he choose them? Why not go for Warner Bros., Paramount, or Universal? Weren't they much better options?
This was the root cause of his repeated failures. His terms were just too poor.
If all he lacked was money, couldn't he simply mortgage loans from a bank? That way, he wouldn't need to share so much of the profits.
"Of course, our financial reserves are substantial. I believe that if we collaborate, we can simultaneously produce more and better film projects."
"Do you think making movies will always bring profits?"
"It's a big data issue. Generally speaking, if you invest in around 20 films with a budget of around $30M each, there's a high probability of turning a profit."
Well, it seemed he did have some experience, not completely ignorant about the film market.
"Moreover, I believe that the overall size of the film market has been increasing in recent years. In the next five years, such a situation might not change. The expansion of the market means it can accommodate more films."
Alright, he indeed had a broad perspective.
Being able to foresee from this point in time the sustained growth of Hollywood's market size over the next few years, and being prepared for losses, investing in a large number of film projects to replace vision with quantity and maintain a net profit in terms of income and expenses, was truly feasible.
"So, how do you think movies should be operated optimally?"
"Make blockbusters. To be precise, manage serialized films."
Thomas also understood that Lyman was testing him.
Of course, that was only natural; when you wanted to collaborate with someone, they would naturally want to gauge your capabilities.
"Filmmaking always carries risks, whether it's a small investment or a large one. If a project fails, it's just a matter of how much you lose. However, as long as you successfully operate a series of films, establish a solid market foundation, these filming risks can be largely mitigated. Thus, you create a sustained moneymaker. I've analyzed Warner's "Harry Potter" series. Up to now, they've only made two films, with the third in production, yet it has already brought them over $1B in profit, even more perhaps. The value of those ancillary rights will only increase over time..."
After listening, Lyman nodded subconsciously.
From two simple questions, Thomas' answers showcased his acute market instincts.
It was estimated that this was why Legendary Pictures could rise from obscurity in 2005, growing from a third-rate company riding Warner's coattails to becoming capable of developing the "MonsterVerse" and seeing their company value soar.
For a media-focused film company, the leader's vision held immense influence.
"Why not join us? You can pick whatever position you want."
Lyman couldn't help but try to recruit him. Just like with George, such industry talents were a waste to pass up on.
"Well, I'm here to discuss cooperation," Thomas said somewhat tactfully, but it was still a veiled refusal of Lyman's attempt at recruitment.
"If we're cooperating, let's discuss it later when we have the time," Lyman gestured towards his wristwatch, standing up. "It's getting late, and there are matters in my company. I'll take my leave."
As the saying goes, if a deal can't be made, let goodwill remain. Lyman was being courteous.
"The future is still ahead, isn't it? Cooperation isn't something that can be settled in a short time. If we have the opportunity, we can chat again. Legendary Pictures is always sincere about this; that's for certain."
"Yes, I have no doubt that your side genuinely seeks cooperative intentions. Then, we'll talk again next time?"
Even when a deal doesn't work out, there's still virtue in maintaining goodwill. Lyman offered his politeness.
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