Chapter 548: Overseas Film Rights
Chapter 548: Overseas Film Rights
Nie Zhan commented, "With the quality of this film, overseas sales shouldn't disappoint either."
While the film might not fare well in Europe and America, it would likely be a hit in the various countries of Southeast Asia.
Lu Jiaxin smiled and said, "Now, three film studios want to purchase the overseas distribution rights. I'll let them bid, and we'll go with the highest offer."
"We won't sell for less than 5 million yuan,"
"My goal is 10 million yuan," Lu Jiaxin countered.
She set the asking price for the overseas film rights to 'Gamble God' at 10 million yuan, as it was a buyout, she felt this price was reasonable. However, the highest offer came from Golden Harvest, who bid 9 million yuan and wouldn't budge beyond that.
Tian Pengyu said, "Boss, this price is already very high. Many Hong Kong films fail to recoup their investment overseas, and there's no guarantee of box office success."
Last year, the company's 'Legally Blonde' only fetched a 2 million yuan offer from Princess Bao, while Jiahua didn't bid at all, clearly not optimistic about its prospects. Lu Jiaxin felt that selling at a loss wasn't worth it, so she didn't agree, and the overseas film rights remained with Wanjia Film and Television.
Lu Jiaxin considered for a moment before agreeing. Although she knew that Jiahua would definitely make a profit at 9 million yuan, others might not realize that. For a company like Jiahua, they probably considered this price quite high internally and were taking a significant risk. She also didn't want to haggle too much.
Tian Pengyu was delighted when she relented. The box office forecast for the film in Hong Kong was 35 million, while the overseas rights fetched 7.02 million (yuan/HKD fixed exchange rate 1:7.8). The 35 million from the box office would be shared with the theaters, but the company would retain all the income from the overseas rights.
Once the contract was signed, Jiahua transferred the money to Wanjia Film and Television's account. In Hong Kong, especially within the film industry, there were hardly any secrets, and this news soon made headlines.
While box office earnings from Hong Kong films were distributed after the film run ended, the overseas rights payment allowed Tian Pengyu to immediately transfer 3 million yuan in dividends to Wang Sanri according to the contract (after deducting taxes and other fees).
Wang Sanri was overjoyed to receive the money. After all, his earnings from screenwriting and directing fees combined didn't amount to this sum! This film had earned him 5 million yuan.
Also, because the rewards were so lucrative, Wang Sanri wanted to strike while the iron was hot and shoot a sequel. However, as this film was a project of Wan Sheng Estate, he couldn't possibly exclude them and go solo. Otherwise, he could forget about staying in the industry.
Of course, Tian Pengyu also hoped for a sequel, but this decision wasn't his to make. "Director Wang, as long as your script gets the boss's approval, we'll start filming immediately."
So far, the boss had produced three scripts, and both 'Legally Blonde' and 'Gamble God' had been huge successes, raking in substantial profits. 'Noble Family' was still in production, but from his visits to the set, he felt that the ratings wouldn't disappoint.
Wang Sanri readily agreed.
Nie Zhan often socialized, and when he met people close to him, they would inquire about Lu Jiaxin, compliment her good eye for films, and then ask when the two of them planned to get engaged.
Nie Zhan always deflected these questions, saying that Lu Jiaxin was still young and that they would discuss engagement in a couple of years. However, when his grandfather brought it up, he didn't beat around the bush.
"Jiaxin said it depends on how well I perform. If I do well, we'll get engaged by the end of next year. Grandpa, please take good care of your health so you can preside over my engagement banquet," Nie Zhan replied.
His grandfather smiled and nodded in agreement. "Don't invite your mother. It'll be less troublesome for your engagement banquet."
Initially, he had been somewhat dissatisfied with Lu Jiaxin, as she had been dating his grandson for so long without paying a visit to the family. However, she had visited him a few times when he was ill, bringing him apples and keeping him company. Through these interactions, Grandpa Nie realized that Lu Jiaxin was also a loyal and devoted person, and his previous concerns dissipated.
Upon hearing him mention Nie Manlin, Nie Zhan remarked, "Mommy is currently resting in the hospital, preparing for the birth. That man has been a dentist for many years, and I don't believe he has no savings. Yet, we're the ones footing the medical bills."
The underlying implication of his words was clear: this man was only with his mother because the Nie family had money. The child she was carrying was merely a means to that end.
Being wise beyond his years, Grandpa Nie was well aware of the man's intentions. He said, "I've already given you the shares I own. As for the stocks and collectibles I possess, I've made a will leaving them to be divided equally among you four brothers."
Nie Zhan bluntly stated his wish: "As for the private assets that Grandma left to Mommy, I hope you'll let me manage them in the future. If given to Mommy, they'll probably be gone in the blink of an eye."
There was no need to beat around the bush. Mommy had given birth to three children, and now only he could safeguard these antiques and jewels. If Grandpa truly cared for Mommy, he would let him manage them. If not, he wouldn't force the issue. After all, the family fund provided a monthly allowance to its members, so she wouldn't go hungry.
Grandpa Nie had never even considered giving this batch of items to Nie Manlin. "Very well," he said. "After I'm discharged from the hospital, I'll have these things delivered to you."
After chatting for over an hour, Nie Zhan prepared to leave. Before departing, he checked with the doctor and confirmed that Grandpa Nie was recovering well and could be discharged within half a month, which put his mind at ease.
Upon returning home, Nie Zhan found that Lu Jiaxin was not there. He inquired with the butler and learned that she had gone out for dinner with Su Heyuan. This time, Lu Jiaxin was treating, as the movie had been a massive success and made a fortune.
"You must have made about 90 million yuan from this 'God of Gamblers,' right?" said Su Heyuan. "I never imagined that making movies could be so profitable."
Lu Jiaxin smiled. "It hasn't ended its run yet, so we're not sure of the exact box office numbers. Currently, the split is 4:6 for the cinemas, so if we estimate the box office to be 30 million yuan, we'll get about 18 million. The overseas copyright sold for 70.2 million yuan, and after deducting costs, taxes, and various fees, we should make a profit of over 60 million yuan."
Su Heyuan thought that was already a substantial sum. "A clothing factory with over a thousand employees doesn't make a profit of 60 million yuan in a year. It's incredible to make so much from just one movie. I'm sure countless people are envious."
Lu Jiaxin chuckled. "You only see that my movies make money, but you don't know how many movies lose money. The previous incarnation of Wanjia Film and Television lost over 20 million yuan."
Nie Jingting had a genuine passion for acting and diligently studied with his teacher for a year. He didn't even return home during the summer and winter vacations, choosing instead to work as an extra on various sets. Thanks to his connections, he didn't have to worry about finding work, but he did rely on his family for financial support.
Su Heyuan smiled and said, "So, you do have good fortune when it comes to wealth! Wan Ting Film and Television used to be a joke in the industry. Some people said the company had bad feng shui. But it wasn't the company's feng shui that was the problem; it was clearly the boss dragging the company down. Look, as soon as you took over, the company started making money."
Although the other movies didn't make much, the fact that Lu Jiaxin no longer had to subsidize the company was a significant improvement. They often accused him of being superstitious, but this young lady was simply born with a fortune.
"Why are you bringing this up? Are you thinking of investing in my next movie?"
Su Heyuan waved his hand. "I don't understand much about this industry, so I'll pass on investing. Jiaxin, I'm returning to the mainland next Wednesday. Is there anything you want me to bring to Ms. Gu?"
Investing in stocks, foreign exchange, or futures trading was fine, as there were risks involved, and whether one made money depended on luck. But every script written by Lu Jiaxin that was turned into a movie became a massive hit, and that was not an investment but a direct profit-sharing arrangement, and that was something he couldn't get involved in.
"Why are you going back?"
"To celebrate Old Master Xie's 70th birthday. I have to go back and offer my congratulations."
Lu Jiaxin had just learned about this today. "Then, help me bring a gift."
"Sure."
(End of Chapter)
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