Chapter 103: Chapter 103: Became a multi-millionaire
Amidst the murmuring of the female staff in the cubicles, 'Is that him? " "Is that him?' Director Zhang escorted Feng Yiping to the door, and Lawyer Zhao even accompanied Feng Yiping out. Why? Because without an adult escort, Feng Yiping couldn't even check into a hotel.
As soon as Feng Yiping left, Director Zhang got to work. He picked two songs out of the ten and made a few phone calls, then sent a fax to several major record companies in Hong Kong and Taiwan. The next step was easy, just wait.
Feng Yiping was in a good mood as he took an early tour of the old neighbourhood. He leaned out of the hotel window and looked out. The high-rises were now concentrated around Huanshi Road.
Within his line of sight, there were nearly ten tower cranes at work. He thought to himself, with no ambition at all, that if he bought a few flats in these new buildings, or in the old neighbourhoods below, which were surrounded by greenery, the son he would have in ten or twenty years' time would be a genuine rich kid!
Early the next morning, he hurried to Xiguan, not far from where he would work and struggle in the future. It is also the place with the richest local characteristics in Yangcheng. There are not many of these seemingly old grey mansions left in the future.
He wandered leisurely through these old mansions, eagerly taking in the sights. When he went travelling, Feng Yiping, who never liked taking photos, felt that there was a real need to buy a camera.
He had planned to visit Zhongda in the afternoon, but as soon as he returned to the hotel, he was blocked in his room by Lawyer Zhao. The people from PolyGram arrived at the law firm in the morning, and the people from Warner Bros. arrived shortly afterwards. Both parties were waiting for him.
Although they were record companies, the people sent by both parties were all professionals in business attire, which was fortunate! Feng Yiping was really afraid that one company would send someone with pigtails and dressed in an exaggerated masculine style to negotiate.
As soon as Feng Yiping entered the conference room, the men in suits on both sides looked over at him. To be stared at so intensely by such a large group of men was, to be honest, not a very good experience.
Director Zhang introduced Feng Yiping to the man on the left, 'This is Mr. Guan from PolyGram.'
Mr. Guan was about the same age as Deputy Director Zhang, with a crew cut and a not-so-small nose. He looked like a man of boundless energy.
Director Zhang must have already introduced him, so when he saw Feng Yiping in person, although he was inevitably a little surprised, he still very seriously handed Feng Yiping his business card.
The Warner representative was a young man with a lot of charisma, and Mr Guan, who was a little older, was a little hesitant about saying some things. Manager Zheng from Warner didn't care so much, and when they shook hands, he was so enthusiastic, and he showered Feng Yiping with praise, that Feng Yiping, who is thick-skinned, felt a little embarrassed.
After the pleasantries were over, Feng Yiping sat down and whispered to Director Zhang, 'Aren't we going to wait? Aren't there other companies?'
He said it was a whisper, but his voice was so hoarse from the change of voice period that it couldn't be lowered—and of course he did it on purpose.
Sure enough, the representatives of the two companies immediately said that they were the top record companies in all of Chinese music, and it didn't matter whether they met the others or not.
These words were not too exaggerated, especially at this time of PolyGram. Just look at the singers under its banner to see its strength. Of the four people who had just won the title of 'Four Heavenly Kings' the year before, only Guo Tianwang was not under its banner. Leslie Cheung, Zuo Lin You Li, Faye Wong, and Priscilla Chan were all its contracted artists at this time. Which of these people was not a well-known figure?
Feng Yiping also favoured PolyGram, and it was no accident that most of the ten songs he produced this time were later released by PolyGram.
It was good to have a law firm with such strength taking the lead. Director Zhang discussed each point with the two firms according to the suggestions made by Feng Yiping, which was actually somewhat like bidding.
The first point was that each song was priced at US$3,000 to US$5,000, and the two firms immediately said that this price was too high and unacceptable, and that they hoped to be quoted in RMB.
Director Zhang was prepared for this, and with a smile, pointed out that PolyGram and Warner had both sent their leading singers to Europe to shoot music videos last year, and the budget for a hit song was at least over a million. In contrast, for such excellent work, how could a few thousand dollars be considered much.
Indeed, at least in the Chinese music scene, this is the golden age. During this period, singers with good results can live very well just from album sales.
For example, Liu Tianwang's Thank You for Your Love, released last year, sold a total of 1.68 million copies for the whole year! Twenty years later, the Hong Kong Music Association lowered the standard for platinum albums to 15,000 copies per album, but still, few people can get this honour. A comparison shows that there is really a world of difference.
Stimulated by the high returns, record companies are certainly willing to invest heavily, investing millions in the title song is a piece of cake.
After listening to Director Zhang's words, the two companies were embarrassed to dwell on this point, and the two companies automatically bid, finally raising it to the 5,000 US dollars that Feng Yiping said.
As for the settlement currency, Feng Yiping insisted on US dollars. You two companies are so big, and you both care so much about this small difference in price, and I'm just a country boy who has just escaped poverty, so naturally I have to insist.
However, the two sides were at an impasse for a while over the percentage of each album's royalties. Director Zhang asked for a huge amount, at least 10%, and the two sides argued point by point. The other person next to the two representatives should have been the equivalent of an actuary, writing a number on paper from time to time and handing it to Guan and Zheng.
The album produced by these ten songs is expected to sell at least one million copies a year in Asia. At this time, every point is not a small number.
While the two sides were negotiating nervously, Mr. Guan no longer cared about the age difference between him and Feng Yiping, and he kept on showering him with praise. Manager Zheng was even more so. They also did not forget to make various promises to Feng Yiping, such as helping him apply to study in Hong Kong and signing a long-term contract with him. Feng Yiping always said, 'Consider it.'
There is no need to study in Hong Kong yet, and as for a long-term contract, Feng Yiping is not stupid. After signing the contract, although he will get a salary, the company will take a commission from his income, and the amount will not be small. With his abilities, does he need to work urgently now?
But don't say it, Feng Yiping, who later became a small boss, has always been the one asking for things. Now, he is being begged by people from large multinational companies with various conditions, and the feeling is really excellent!
It cannot be said that these two major international companies have a ** share in doing so. In fact, in this industry, singers are easy to find, but good songs are hard to find.
Just like in the various talent shows that came later, there were endless good singers, and even many people in the fields had a good voice. However, how many songwriters can write classic songs?
With these ten songs by Feng Yiping as a foundation, the two companies can completely use very low costs to turn an unknown little singer into a top star, with a very high input-output ratio.
After more than an hour of back and forth, no consensus was reached.
Then Lawyer Zhao came back in and told Director Zhang, 'The representatives of Taiwan's Rock Records and UFO have arrived.'
This sentence was the catalyst. After fifteen minutes of discussion, the two companies each gave their final conditions.
PolyGram's conditions were to raise the price to US$10,000 for two songs and US$8,000 for three songs, and to keep the price at US$5,000 for the other five songs, with a royalty of 5%.
Warner's conditions were the same as PolyGram's, 5,000 US dollars per song, and the royalty rate was 6%.
Of course, these were all exclusive of tax, and all were settled in US dollars.
Director Zhang was inclined to accept Warner's conditions, as the difference of 1% was significant, but Feng Yiping finally chose PolyGram. After all, it had more works, and the difference was not great, so he would go with it.
The key was that PolyGram had many singers under its banner, and its appeal was great, which could guarantee sales.
Manager Zheng of Warner was a little disappointed, but he still said goodbye to Feng Yiping enthusiastically and hoped that there would be a chance to cooperate next time. He didn't believe that such a person would only have a work this year.
In the end, Dacheng Law Firm and PolyGram signed a formal contract, which also clearly stipulated confidentiality for creators, the calculation base and other related matters.
Feng Yiping did not give up his right to be credited either. He insisted on using the name 'Deep Sea'. There was nothing he could do about it. He just liked to play lurk!
The representatives of the two belatedly arriving Taiwanese record companies were outside the meeting room, watching them shake hands and seal the deal inside, and they were very annoyed. Manager Zheng also stayed behind, with the representatives of UFO, because Warner had acquired a stake in UFO at this point.
When they saw Feng Yiping come out, the people from Rolling Stone and UFO immediately came over to hand out name card holders to show their friendship, hoping to have a meal together and chat. ƒreewebηoveℓ.com
Feng Yiping is now a resource of the law firm. For the law firm, it is never a bad idea to cultivate good relationships with these companies. So that evening, the law firm hosted a dinner to entertain the representatives of the companies that had come from afar. Everyone had a little luxury at Panxi Restaurant.
During the dinner, Feng Yiping naturally received all kinds of praise again. Although he didn't drink, Feng Yiping felt like he was drunk!
The next morning, the contract signed and sealed by PolyGram was delivered to Dacheng Law Offices, and a total of 69,000 US dollars was also deposited into the account.
What was also delivered with the contract was a Leica M6 camera.
To be honest, these Hong Kong companies, which have already become highly commercialised, have done a very good job. Feng Yiping had only mentioned it last night over dinner that the beautiful scenery in many places in Guangzhou could be captured in pictures, but that there were no good cameras available on the market. Mr Guan had taken note of this.
It is true that compared to one percent, a camera costing a thousand or so US dollars is nothing.
At Feng Yiping's age, opening an account is troublesome, but in front of Dacheng Law Firm, it is no problem at all. Director Zhang personally accompanied him to the BOC customer account book to open an account.
This time, the income totaled 69,000 US dollars, and the law firm fees were 6,900 US dollars. Feng Yiping only kept 55,000 US dollars, and entrusted Director Zhang to exchange the rest into RMB, which also amounted to 50,000 US dollars, and they were deposited together.
According to the bank's exchange rate, Feng Yiping's assets are now worth nearly 400,000 yuan. He has finally become a multi-millionaire!
Moreover, the yuan will depreciate again next year, so his US dollars will appreciate by at least 20%!