Chapter 464: Three-party Conspiracy: Tai Chi Entertainment is Established
In a five-star hotel in South Korea, representatives from three parties are plotting.
All three parties attached great importance to this cooperation. Qingyao Media wanted to gain a foothold in South Korea, and the other two parties saw the potential of Qingyao Media and wanted to achieve mutual benefit.
The negotiations went smoothly. Qingyao Media had its bottom line: controlling the company and having the final say. Netflix, on the other hand, wasn't too ambitious, just taking a small stake, with the goal of forming a strategic partnership with the new entertainment company.
After some discussion, the final cooperation plan was finalized. The three parties established a new entertainment company, with Qingyao Media holding 51% of the shares, Kakao holding 34% of the shares, and Netflix holding 15% of the shares.
Furthermore, there was a special provision: Qingyao Media enjoyed ten times the equity management rights. This meant that even if Qingyao Media's shares continued to decline in the future, as long as they did not fall below 10%, Qingyao Media would have absolute say in the new company.
The new company will be invested with 1 trillion won, with all parties contributing according to their respective shares. This translates to 5 billion RMB.
This registered capital is truly terrifying. Considering the combined market capitalization of the three largest entertainment giants, it's only three trillion won. Now Qingyao Media's new company's registered capital is a whopping one trillion won. This is definitely the cry of the wolf, no, it's the dragon coming over the river.
The amount of registered capital alone exceeds the market capitalization of YG Entertainment, South Korea's second-largest entertainment giant. YG's current total market capitalization is only over 900 billion won.
While South Korea's three largest entertainment companies are renowned, the Korean market is still relatively small. While the Korean language is well-developed, the population is small. This is the reality of small countries: while the three largest entertainment companies may be impressive in South Korea, they're largely invisible in the global market.
Over the next few days, Tang Qing became busy in Korea. The popularity of "Kingdom" gradually faded over time. However, its success is undeniable, and it will undoubtedly remain a prominent figure in the history of Korean dramas.
What's been quite interesting these days is that Chinese, Thai, and Korean netizens have been arguing with each other online. The target of their criticism is "Kingdom".
This was first brought up by Thai netizens, who said the show was a Thai drama. Korean netizens were upset, saying it was a Thai drama. At best, the show was produced by a Thai company, so how could it be considered a Thai drama?
Chinese netizens, seeing the bickering between the two countries, jumped in to join in the fun. Some responded in kind, claiming the show was a Chinese drama because the director was Chinese, the screenwriter was Chinese, many of the actors were Chinese, and it was filmed in China.
There are also Chinese who jump around and say that ancient Korea belonged to China, so this drama is a standard Chinese drama.
The lively banter made the onlookers talk about it with relish. Su Yang is such a good guy. He made a TV series that not only performed well but also attracted a lot of attention.
"Breaking News: Tai Chi Entertainment has officially been established, with registered capital of 1 trillion won..."
Just after the lively meeting, an even more explosive news suddenly broke out in South Korea. After this news broke out, it directly shocked the entire Korean entertainment industry.
A new entertainment company, Tai Chi Entertainment, was officially established with a registered capital of one trillion won. It's so fucking terrifying.
Taiji Entertainment is invested and registered by Qingyao Media, Kakao, and Netflix. It is a Chinese entertainment giant, a Korean social media giant, and a global streaming giant.
The three giants actually set up a new company in South Korea with a registered capital of 1 trillion won. This is like a dragon crossing the river.
"One trillion won in registered capital is terrifying..."
"Wow, that's great, will Su Yang Oppa come?"
"Can the MENG girl group join Taiji Entertainment?"
"Will there be a new trainee program..."
"Looking forward to it, I hope Tai Chi Entertainment is clean..."
"I'm afraid the chaebol won't be able to intervene this time..."
"Come on Taiji Entertainment, take down the three major entertainment companies..."
Korean netizens have been discussing this issue. The three major entertainment companies have a monopoly on the Korean entertainment industry, and both the entertainment industry and netizens have long been frustrated by the three giants.
After all, all kinds of dirty things have been exposed over the years, and each time the incident caused a big fuss, but the final result disappointed ordinary people.
Now, Taiji Entertainment is a newcomer. Qingyao Media has come directly across the river, aiming to challenge the three major Korean entertainment giants, disrupt the current Korean entertainment landscape, and even rewrite the rules.
Moreover, the three major shareholders all have powerful backgrounds. Although the traditional three giants are backed by chaebols, the forces behind Taiji Entertainment are also very powerful, whether it is Qingyao Media, Kakao, or Netflix.
This is explosive news. After this news broke, the three giants were the most nervous.
The Korean stock market also had the most direct impact on the three major companies. After the news was announced, the stocks of the three major entertainment companies began to fall, and the decline was very large. This made the three major entertainment companies jump up and down and curse, "Damn Qingyao Media is really a troublemaker. The Korean market is already so huge, and you are messing with it again."
The Chinese market is so big, you should just develop your business there. You can make more money from just one movie than you make in a year, so why do you have to come to Korea to grab food?
Frustrated and helpless, even the three major Korean entertainment giants are afraid of the behemoth Qingyao Media. Qingyao Media's deep pockets and immense profitability are immense. With Qingyao Media's backing, Taiji Entertainment can afford to lose money even for a decade. However, if the three major Korean entertainment giants continue to lose money, the chaebols behind them may not necessarily continue to support them.
Furthermore, Taiji Entertainment has Qingyao Media as its backer, which means they can make money from the Chinese market. This is crucial, as it is very difficult for Korean works to enter the Chinese market, and it is also very difficult for artists to develop in China.
Even though "Kingdom" was released in China, if it were a product of the three major entertainment companies, even if its performance doubled, it would not be able to enter the Chinese market. Some things are well known to many people even without clear documents.
Tai Chi Entertainment was officially established, and this news also caused huge heated discussions in China.
Meanwhile, in Su Yang's office, he was also busy writing a plan. Now that Taiji Entertainment had officially been established, the next step was to establish its reputation and prove itself with solid results. Taiji Entertainment was the new king. If it wanted to establish its own prestige, it had to step on the corpses of the three major entertainment companies to rise to the top and show them who was the true king.
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