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After the latest round of “changing bloodâ€, Zhang Zhao’s status in LeTV was unprecedentedly improved.
New music as the night watchman Zhang Zhao: Living, it is as patience as a frog
The current filmmaker's current status is the chairman of the new LeTV management committee and the chairman of LeTV (now confirmed to be renamed “New LeTV Entertainmentâ€).
After Sun Hongbin, chairman of Sunac China, gradually took over LeTV, in addition to rebranding the company as new LeTV, including LeTV, the new leader of television, LeTV CEO Liang Jun and other former senior executives resigned two months ago. The background management took over.
Zhang Zhao, who is in charge of photography, is an exception. The new LeTV management committee will be responsible for the future strategy and planning of the new LeTV, including six members including Sun Hongbin and Zhang Zhao. Among them, Zhang Zhao's role is "the leader of the content business strategy" and is responsible for the content business line.
From the end of last year to the present, LeSport has always been in a public opinion crater, arrears suppliers arrears, gave up sports copyright, founder Jia Yueting resigned, left, the company is still not out of the crisis.
Zhang Zhao's LeTV Films has a lot of content resources, which is the key to unlocking new LeTV content in the future. Speaking of the plan for the new music content business, Zhang Zhao said that in addition to still focusing on film content, it will gradually expand the drama investment, vertical operation of IP, and landing family scenes.
Before he met Jia Leting, Zhang Zhao was already a gold medal producer in the movie circle. But under the nest, Ann had eggs. In Le Vision, “doing yourself well†has not allowed Zhang Zhao to be alone.
Regarding the future, Zhang Zhao said that his appeal is simple and "living down."
At the moment, Zhang Zhao found a new story under the background of the “New LeTV Content Business†in order to escape from the “Legen destinyâ€.
Dilemma survival
On June 19 this year, LeTV Films held a press conference at the Shanghai Film Festival. At the three-and-a-half-hour meeting, Zhang Zhao combed all ideas and plans from the content to the scene. In subsequent reports, most of the media focused on Sun Hongbin’s phrase “money is not a problemâ€.
Zhang Zhao more concerned about is that in more than three hours of speeches, many people could not help but leave, and Sun Hongbin sat there motionless. This made him very touched.
“Jiayue Ting, Sun Hongbin, and Wang Jianlin suddenly said that these people are all related to me. It's very interesting.†Looking back at the past few years of his leaving the traditional film industry, Zhang Zhao recalls many of the impressive moments he made.
Zhang Zhao, who we met at this time, was much better than it was supposed to be.
Zhang Zhao and Zhang Yimou. @ Vision China
Zhang Zhao, 55, is wearing a black sweater. It seems like Zhang Yimou once evaluated him as a "scholar entrepreneur."
In these years, Zhang Zhao, as a movie producer, has contributed a lot of different styles of films to the public: Zhang Yang's "Kang Renbo Qi", Zhang Yimou's "The Return", Guo Jingming's "Little Time" series, and the chopstick brother's "Old Boy's Meng" Long Guojiang et al.
In addition to Huayi Brothers and Bona Films, China's private film industry has the following variables: light media, LeTV, and Zhao Zhao have a great relationship with Zhang Zhao. The industry calls it the driving force for the industrialization of Chinese films.
In 2011, Zhang Zhao was established as a partner and Jia Yueting established LeTV Film. At the end of 2016, the industry was known as the “celestial accelerationâ€.
But this time, the situation faced by LeTV is quite complicated. “Being good†can no longer make Zhang Zhao alone.
After Leyi Yizhu Rong Sun Hongbin, Sun Hongbin repeatedly talked about the company's non-listed company system, including Easy Access, LeTV Sports, LeTV, etc., the sale of the sale, the cooperation of the cooperation. Sun Hongbin values ​​only three core businesses - LeTV for big-screen TVs, New Vision for the company, LeTV for the listed company, and LeTV.
Previously, LeTV was only part of LeTV's ecology, and Zhang Zhao’s personal role has rapidly changed. He is responsible for the content of LeTV’s new, listed company’s LeTV and LeTV. It seems that Sun Hongbin has placed some hopes on Zhang Zhao - revitalizing LeTV, LeTV and LeTV.
However, in fact, since LeEra began its critical life, LeTV’s days began to grow sad. "LeTV was almost gone," Zhang Zhao said in the interview.
In March 2017, 36% of the total count of LeTV in the inventory was reported: 34.3 billion. After deducting the deposit, it is still as high as 26.3 billion. After the financial investment of 16.8 billion, Suntech's cash flow is still stretched.
Zhang Zhao had to use one of the simplest and most intuitive ways to resolve the negative impact LeTV’s crisis had on LeTV’s industry— Le Vision moved to Building 2 Chenguang Courtyard, No. 18 Liulitun earlier this year. The office is located in a three-story high-rise.
Zhang Zhaotan said that Le Vision’s move was mainly due to the fact that the rent was cheap and the entire second floor was rented out.
The film and television market has recovered slightly this year, but the difficulties encountered by LeTV have not yet been eliminated. This year, neither the summer nor the National Day file will see LeTV. The previous exclusive drama "The Hunting Ground" has also been sold to other platforms for the return of funds.
In the current situation, Zhang Zhao wants to use funds to reduce expenses and return funds to ensure the health of LeTV's cash flow. He told AI Financial Club that every time he encounters a crisis in life, he will crouch like a frog - the lower the squat, the greater the jumping power and the longer he will hop.
Hit LeTV
The first "crisis" encountered by Zhang Zhao was just a few years after he returned to China. Zhang Zhao was admitted to Fudan University in 1979 and received a bachelor's degree in computer science and a master's degree in philosophy. In the early 1990s, he went to the United States to study abroad. In 1994, Zhang Zhao won the Oscar Student Unit Award for the year because of a short film "Wood and the Word." The award for Zhang Zhao opened a door in the real world, Shangying Group invited Zhang Zhao to return to the country to shoot a movie. He promised.
I did not expect to rush into the worst years of Chinese film.
In 1998, the total box office in China was 1.4 billion. In 1999, this figure was 810 million, and in 2000 it was 860 million. The media was almost dismissive of Chinese films. Film and television production companies turned to one another. Filmmakers took television shows. The studio became a warehouse, and the movie theater became a ballroom. And Zhang Zhao directed the film only 1 million box office.
Zhang Zhao decided to give up the director's dream. “We are building a car, learning a skill, but there is no way, what do you make a car?†“The core of Hollywood is the distribution. How can Chinese films get better? Let's start with the release.â€
In the winter of 2003, Zhang Zhao came to the West Third Ring Road Hutong “Wanju Temple North Lane†and passed through a grey brick structure in a residential area, stopping at a four-story turn building. The building is very old and the security door is hidden. There are several old words above - Jiade Office. Here, Zhang Zhao met Fudan’s younger brother Wang Changtian.
The two chatted from the evening to twelve at night. Zhang Zhao said, "Let's go eat!" Wang Changtian said no, then took out a large box of dumplings from the desk drawer, and took out three kinds of hot sauce, said to Zhang Zhao, "This dumpling is my mother's bag." After eating dumplings, Zhang Zhao decided to start business with Wang Changtian.
In 2006, the light film industry founded by Zhang Zhaohe and Wang Changtian was called “ray speed†by the industry. Zhang Zhao also quickly turned from a director to a businessman.
The times are changing. In 2011, Zhang Zhao met Jia Yueting at the Kunlun Hotel. The two saw it.
In 2011, Zhang Zhao established LeTV as a partner and Jia Yueting. In these years of LeTV, Zhang Zhao completed the transformation of a traditional movie businessman into an internet movie merchant.
LeTV is good at publishing and Focus Marketing. Of the employees of LeTV, 50% are offline issuers, and the most important offline marketing is to do activities. In fact, from light photography to LeTV, Zhang Zhao will create a "ground network" system - offline distribution team. At present, LeTV has its own "ground network" system in multiple cities.
Zhang Zhaohe talked to Guo Jingming. “A lot of people look down on the “Little Times†and say that it is a PPT movie. But how many people were touched by the “Little Times� It made China's youth movie market from 15 to 25 years old shape for the first time. In the past, Chinese films were all for white-collar workers." The success of "Little Times" is, to a certain extent, Zhang Zhao's "one-armed sword" theory in the real world.
The "one-armed knife" theory - that is, deep farming distribution and segment marketing - is one of the factors in the rise of LeTV. Zhang Zhao interprets that these years, he was good at making the knife with his right hand, the movie with his right hand, and the internet with his left hand. In these years, he tied his right hand and practiced his left hand. He started to use films based on the theory of focus and the Internet. The so-called Internet is decentralized. Zhang Zhao has a "popularist tendency," and he has layered users, turning the content of traditional film and television into service customer leads.
Zhang Zhao achieved a secular success. In 2012, LeTV Films announced a box office revenue of 625 million. In 2013, LeTV Films’ box office revenue was 1.05 billion... In 2016, this figure was 3.95 billion.
Some analysts pointed out that Zhang Zhao’s success lies in his vision of globalization. He transplanted Hollywood’s commercialization to China. He developed the “ground network†system under the one-armed sword theory, plus it’s time to catch up. Ten-year bonus period at the box office in China.
Time heroes. The Greek philosopher De Creight said that people cannot step into two rivers at the same time. Zhang Zhao said that he could step into three rivers at the same time.
But this time, the situation has changed. Since last year Leshi took a critical start, Zhang Zhao and his music studio have long been incapable of self-reliance.
Single Saviour
The evil is a blessing, and good fortune is a blessing.
At the helm of LeTV's seven-subsidiary system, Zhang Zhao was slightly sad. For a time, the single soldier saver became the key word of LeTV.
In this interview, Zhang Zhao only responded to the “Savior,†“I can't save any more, I can’t save it.â€
36 æ°ª "The 100 Days of Jia Yueting's Harder After Sun Hongbin Entered the Master" has such a detail: In April 2017, Zhang Zhao received a WeChat letter from Sun Hongbin in an attempt to stop him from giving LeTV a credit for cash.
Prior to this, Jia Yueting had twice looked for Zhang Zhao at LeTV's office, but they all ate a closed door. After Sun Hongbin sent Zhang Zhao this WeChat, Jia Yueting's third visit also took the air.
When LeTV faced a crisis before, Zhang Zhaochang took help. At the end of 2016, when LeJie had a problem with the funds chain, Jia Yueting had come to LeTV to borrow money, causing the film industry to have to tighten daily operations, and the reimbursement and funding were very tight. Jia Yueting and Zhang Zhao had been good friends. The two families often went to the United States to celebrate the Spring Festival.
On the evening of January 13, 2017, LeTV announced that it had secured a strategic investment of 16.8 billion yuan, including Sunac China. Jia Ruihui Xin (a subsidiary of Sunac China) acquired 1.05 billion shares of LeTV Film and became the second largest shareholder of LeTV.
Regarding the sales of LeTV and Sunac, it is LeTV with a 15% equity interest in LeTV, and 1.05 billion from Sunray. LeTV has not received any actual capital injection. After the press conference, Zhang Zhao pointed out in an interview with the media that this transaction of Sunac was essentially a valuation of Jia Yueting's previous round of transfer of old shares.
This is not the first time LeTV has sacrificed music in the crisis. On December 5, 2014, LeTV, which was originally listed independently, was announced to be incorporated into LeTV. When the news came out, the market immediately returned a daily limit. As we all know, at the end of 2014, Jia Yueting stayed overseas and LeTV was precarious.
Perhaps this is the fate of LeTV's film industry. When the A-share market that likes the logic of the story needs a story, LeTV will become the weapon of LeTV and increase the stock price for LeTV.
In 2011, Zhang Zhao left Light Studios and said in an interview with the media: “When I started the lighting business, I made it very clear. This is an independent company. It is not listed with the optical media. You go in. In that case, I would not be able to arrange according to the development of the industry."
One of the goals of Zhang Zhao’s founding of LeTV was to be listed independently, and now the dream of independent listing is getting farther and farther.
To a certain extent, Zhang Zhaohe and his currently responsible LeTV company's three company contents all need to “go to musicâ€.
new task
Sun Hongbin only partially eased the financial crisis of LeTV. However, the financial institutions and the joint run of upstream and downstream industries have placed LeTV on the edge of the cliff, including LeTV New, LeTV, and LeTV.
The stormy weather of LeTV is all the worse for each sub-business. Even big screen business with good cash flow.
As a premium asset in the LeSonic Group's seven-child system, Daping Levision made new arrivals, and shipments have been declining. Insiders pointed out that this is a series of problems caused by LeSport’s financial difficulties: The upstream supplier knows LeTV’s funding status and no one has credited it to LeTV, so it is in a state of no-buy.
Recently, Le Shixing, who focused on the big screen business, announced that he will be rebranded as Xin Leshi Wisdom and the legal person will be changed from Jia Yueting to Zhang Zhiwei, one of the six members of the new LeTV management committee.
After the LeTV crisis, senior executives resigned, including LeTV’s co-founder Ding Lei, LeTV Sports’ President Zhang Zhiyong, Leopard’s senior vice president of investment and financing, Zheng Xiaoming, LeTV’s helmer Wang Yongli, Levision’s chief administrative officer Shawn Williams, and LeTV. Net CEO Liang Jun et al.
Zhang Zhao told the AI ​​Finance Club about a detail. At the end of each year, Jia Yueting will open a meeting with LeTV executives. Last year, there were 400 executives and only 5% later. LeTV’s executives remained stable in this change.
Zhang Zhao was quite proud of this. "A company's crisis is precisely due to the disintegration of people's minds during the crisis. This may be the most critical crisis. We have not collapsed because the team knows clearly where we are going. Difficulties will be overcome."
The value and core team of Le Vision Films is still in, but after several sacrifices by the “Singer Saviorâ€, how to invigorate LeTV, LeTV and Levision to become new, has become Zhang Zhao’s top priority.
Sun Hongbin said in public this year: “LeTV regards all the contents to Zhang Zhaoguan.†Zhang Zhao is currently responsible for three companies: LeTV, LeTV, and Levision New, to some extent, relying on LeTV. Industry IP operations and homemade content.
Whether it can continue to produce high-quality content, rely on the content to make money and activate the three companies, is not a small challenge to Zhang Zhao who is still in crisis.
Zhang Zhao did show a good mentality. “I personally have the advantage that I have a wide heart and do not care about the pros and cons of material interests. I have also benefited from the whole thing. The key is how to define the gains, or I will be full of grievances. In the sub-ecosystem, we are the most rewarding, first of all we are still alive, companies are not at risk, I can't learn so many things, sometimes like dreams, Sun Hongbin and Wang Jianlin are suddenly related to me, accompanied by the LeTV crisis. My understanding of the world, my understanding of business, and my understanding of finance have reached another height."
Transformation
"This year is too hard. In the words of Sun Hongbin, you can't compile these stories," Zhang Zhao said.
Recently, "LeTV Vision" confirmed that it will be renamed "New LeTV Entertainment." A problem that cannot be circumvented - When Zhang Zhao was interviewed by the AI ​​Business Club about why he changed his name and still retained LeTV, he explained two things: "You didn't know you when you changed someone's waistcoat. From a name - alley industry, people in all industries who work with you they know that you are still LeTV.Although the vest change has a certain effect, but this is not the essence, music as the spirit of cross-border innovation to inherit, but practice Can't inherit."
"Secondly, I hope to find a motivation for the team to die, then Phoenix Nirvana, this is the new music entertainment and other names not the same place."
Now the "new music as entertainment" to abandon the "film industry" word, emphasizing "civil entertainment", many people think it is too late to enter. After all, Ali and Tencent have already started to lay out large entertainment areas.
Zhang Zhao had told the media about this. "We don't compete with BAT because old guys just want to compete. After a competition, your driving power has changed. Do you really want to win BAT, or do you have to serve this group of people who have no service?" Your actions will be distorted.†Zhang Zhao said that the future of LeTV will no longer be a pure movie company, but an IP operating company that will develop game development, real-estate entertainment, and derivative development around each IP. Radio drama, brand associates and other cooperation modes.
This is also the meaning of Sun Hongbin. Sun Hongbin expressed his vision for the next strategy at Sunac China Communications this year: “First of all, it has a video. Second, it has a strong self-control capability. It has a video and a LeTV. It has a TV. So It is a combination of three things. I think this is a direction for the future. It is a large cultural and entertainment industry."
In Zhang Zhao’s plan, the contents of the three companies he is responsible for LeTV, LeTV, and LeTV will be mainly based on IP.
In the face of crisis and change, Zhang Zhao likened himself to frogs. Each squat was a retreat, and each retreat must forget himself. “Forgetting that you have a specific meaning is to abandon material interests. From China to the United States, from the United States to Shanghai, Shanghai to Beijing, from traditional movies to Internet movies, from Internet movies to IP operations, forgetting that you are a new life and part of life. Life is a constant deep jump."
As a businessman, Zhang Zhao seems to have a kind of less "preoccupied" kindness. This kind of kindness sometimes prevents him from being run at Leshi Building.
"Yesterday I gave a phone call to Guo Jingming. Guo Jingming is a shareholder of LeTV. He said that you don't tell me about valuation. I'm not working with you for money. I'm very touched." Zhang Zhao told AI Finance. Society.
Once the "Grandma" box office did not meet expectations, Zhang Zhao also supported Guo Jingming. Zhang Zhao and Zhang Yimou talked about the cooperation of LeTV. It took only two weeks before and after. Zhang Yimou once said that Zhang Zhao, who graduated from New York University's film program, was an expert. In the signing process, he also met Jia Yueting, but he only trusted Zhang Zhao.
After the savage growth of 2015, China's film and television industry has entered the slow lane. Companies that use film and television projects as their main business have encountered unprecedented difficulties. Regardless of the summer holiday or the National Day holiday, very few home-grown Chinese films have performed gratifyingly.
Fortunately, in the crisis of music, Sun Hongbin and Zhang Zhaoda are in the same direction. At this year's 6.19 press conference, Sun Hongbin said, "You don't have to think about money, and you don't have to worry about money. As long as the direction is right, LeTV will not be short of money." Zhang Zhao was so choked.
Zhang Zhao’s best advice this year comes from Sun Hongbin: “Content is very, very difficult to do, but it will be more and more valuable.†He thinks that Sun Hongbin is the kind of person who can see the nature of things at a glance.
Privately, Zhang Zhaohui will call Sun Hongbin "Hongbin". "We're here to totalize. I'm one year older than him. He calls me Zhaoge."
"I'm a relatively transparent person. You have to disagree with my business model. Then we don't cooperate. If you agree, then everyone will create wealth together. I'm not an artist. I'm an industrial person. Apart from users, capital It is a very important part of the industry," Zhang Zhao said.
In Leshi sub-system, LeTV has always been carrying forward. In Zhang Zhao’s words, he was captured by capital and his movements were distorted. This time under the help of Sun Hongbin, he re-lighted.
In many films produced, Zhang Zhao liked "Old Boy" most. Although his dream was broken by reality, he never gave up.
The ten-year bonus period for China's movie box office is approaching, and LeTV's studio is facing a storm. This year's Lunar New Year stalls, "Qimen Armor" and "reasoning notes," will be the first time after the renamed Music Vision ushered in the first exam.