"I think we should shorten the funding injection into the music sector and direct the funds into other sectors with improving performance."
"I think the music sector should rethink its direction. We can no longer compete head-on with Fengyu. Chen Feng on the other side is too strong, and we have no chance of winning."
"I think we should focus on cultivating singers who don't require much investment, gradually terminating the contracts of the top singers, kings, and queens who have signed exorbitant contracts, and encouraging them to pursue niche paths."
Listening to the suggestions from the audience, Hua Guozhong smiled, because so far no one has dared to express the idea of giving up the entire music sector.
After everyone had finished their discussion, Hua Guozhong spoke, and he knew that what he was about to say would shock all the management.
"Please be quiet, everyone. Within the group, Mr. Zhang and I have discussed and studied the matter carefully, and have made a decision regarding the music sector, roughly as follows:"
I. In response to the declining performance of Huayu Entertainment's music segment and the strong rise of Fengyu, the Group has decided to cease all capital injections into the music segment.
II. The Group authorized Huayu Entertainment to initiate an internal restructuring of the company.
At this point in Hua Guofeng's speech, the expressions of the audience were all shocked, their mouths agape.
Yang Zhi was completely stunned; even breathing was painful.
He understood perfectly what stopping the injection of funds into the music sector he was in charge of meant; to put it bluntly, it meant abandoning the entertainment industry.
For others, it's unbelievable, considering this is the music sector. The scope and range it covers, its monetization potential is terrifying, and it's highly sustainable with a huge market.
But now it's going to be abandoned, which is something many people can't understand.
"I know you are all surprised and confused, but please allow me to announce the group's decision before explaining the reasons behind it."
Seeing the commotion below, Hua Guozhong stopped them from escalating the situation.
"Please note that Huayu Entertainment is internally splitting into a music division. The company name will be inherited by the music division and changed to 'Huayu Entertainment Music Media'."
"The original animation, film, and novel divisions will be formed into a new company and renamed 'Huayu Culture Media.' The relevant departments are requested to implement this immediately after the meeting, and expedite the registration of the company's trademark and the restructuring of the company."
"Let me make this clear upfront: if anyone lets me down, don't blame me for turning my back on them."
Hua Guozhong's words struck everyone present like a thunderbolt, especially Yang Zhi, who was so shaken that he could no longer sit still and his body went limp.
"Director Yang, what's wrong? Oh dear! Your face is so pale."
Someone noticed something was wrong.
At that moment, Yang Zhi's mind was buzzing. He saw that everyone's eyes were on him, which made him feel extremely ashamed.
But Hua Guozhong ignored him at that moment. He explained to everyone why they needed to split and reorganize the company, as well as the issue of the bet.
This made everyone understand and greatly admire the wisdom and ability of the group's leaders; their own vision was not as broad.
Subsequently, many people began to sympathize with Yang Zhi, because soon his music division would become an empty shell company without any support, and would even have to bear its own profits and losses.
Moreover, if Chen Feng wins the ranking, then this empty shell will be taken away by others, and what will Yang Zhi do then?
His profession is music director, but the Chinese music industry is clearly being monopolized by Fengyu. Can he go to Fengyu? Obviously not. If he goes to a small company, whether they want him is another matter, but the key is that they can't afford to support him.
As time went on, in the huge conference room, only Yang Zhi remained, sitting motionless in his seat like a walking corpse. Many people called to him as they left, but he did not respond at all.
Gradually, everyone stopped paying attention to him. A director who had lost his value was no longer worth everyone's attention.
Hua Guozhong was the first to leave, so naturally he wouldn't pay attention to Yang Zhi's condition anymore. For him, keeping Yang Zhi's position as director was already more than enough.
"Excuse me, sir, could you move aside? I need to clean up."
Yang Zhi looked at the cleaning lady and felt that the once timid and submissive cleaner was now looking at him with strange eyes, which made him even sadder.
He slowly got up, but before he could take a step, he collapsed from exhaustion. The company immediately called an ambulance and sent him to the hospital.
Huayu Entertainment is very efficient. In just two days, they have formulated a detailed plan and restructuring plan, as well as a two- to four-year annual plan and issued an announcement.
The general idea is to split the music segment, focus on developing novels, movies, comics, etc., and launch a joint venture with the group's game segment.
This announcement from Huayu Entertainment provided Chinese netizens with another delicious dose of gossip just before the Spring Festival.
One netizen, Qie Ting Feng Yin, astutely pointed out: "Huayu Entertainment, as a subsidiary of a certain group, has expert guidance from within. This move is truly brilliant."
"By decisively abandoning the music sector, which it had no chance of winning, and directly supporting other areas, it is clear that Huayu is determined to compete with Fengyu in other fields."
"At the same time, the most ingenious move is to avoid the risk of Huayu Entertainment being acquired as a whole. After such a split and reorganization, even if Chen Feng can successfully climb his own charts, he will only have an empty shell company."
A netizen named "Sailing Forward" commented: "Huayu Entertainment has a strong sense of risk. In just a few days after seeing Fengyu Entertainment's annual plan to expand into other entertainment fields, they immediately took action. I'm really looking forward to seeing if Fengyu can compete with Huayu Entertainment in other fields."
Netizen Autumn Leaves: "In the music sector, with Chen Feng guarding the Wind Whisper, it's truly a case of one man drawing his sword and ten thousand retreating. I admit that in the music field, Chen Feng alone, before anyone could react, achieved absolute dominance over the Chinese music scene in just six months. But as for novels, movies, comics, even the game industry and the physical industries released by Wind Whisper, I don't think it can succeed."
This time, netizens were very rational. Although many fans supported Fengyu and Chenfeng without considering the consequences, most people remained clear-headed.
"First of all, Chen Feng is not omnipotent. His dominance in the music field is unshakeable, and he has also revealed extremely strong and even unbelievable artistic skills, which has already surprised everyone. But in the fields of novels, movies and TV series, and even the game industry, he is just an outsider and cannot possibly compete with Huayu, which has existed and developed for forty years."
"Let me explain to everyone that Huayu Group and Huayu Entertainment are not two different things. Don't think that Huayu Entertainment represents Huayu World Group."
"The Huayu World Group is a Fortune Global 500 company, a trillion-dollar behemoth with subsidiaries including Huayu Games, Huayu Communications, Huayu Mobile, Huayu Technology, Huayu Automobile, and more, covering almost every sector in the world..."
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