Chapter 694: Tu Ying Conference 2

In the following days, Yutu Film issued a statement: "Due to Wanda's abuse of market dominance, delay in box office revenue payments, maliciously raising deposit requirements, and depriving Yutu Film of its rights."

To avoid being restricted, to preserve the vitality of the film market, and to uphold cultural diversity, Yutu Film's movies will no longer be screened on Wanda Cinema Line's theaters."

Subsequent films such as 'Supernatural 2' will also abandon screening on Wanda Cinema Line."

This statement shocked all sides of the film industry—Yutu Film was clearly severing ties with Wanda once and for all, refusing to play along anymore."

Now the show would begin: Wanda would lose Yutu Film's content, and Yutu Film would lose Wanda's theater distribution channels."

We'll just have to wait and see how things develop."

"These words are disgusting—clearly you've been abusing market dominance all along, yet now you turn around and blame others. You think it's fine for you to dominate others, but not for others to dominate you?"

"You think it's fine to use content copyright to suppress others, but not for others to suppress you? If you were truly so noble, why would so many people hate and dislike you?"

Xiao Wang posted a Weibo denouncing them."

He was furious—many streamers had left Panda Live, and even new streamers refused to join; content was shrinking."

It was only because streaming Chang'e Technology's games on Panda Live carried risk, yet the hottest games right now were all under Chang'e Technology."

Especially 'PlayerUnknown's Battlegrounds,' which had become a phenomenon."

Upon release, it triggered a buying frenzy—over 4 million copies sold in China within one month, revenue exceeding 400 million."

It would soon surpass five million copies; in just one month, sales neared half of overseas levels—partly due to low price, partly due to massive player base."

Global concurrent players surpassed one million; Chinese player activity surged rapidly, reaching over 40%."

Overseas sales exceeded 6 million copies, total revenue reached $180 million, equivalent to 1.26 billion RMB."

This game alone had generated over 1.6 billion RMB in sales—over $200 million—once again plugging Chang'e Technology's financial gap and even generating surplus."

'Hero Glory' generated over $140 million in monthly revenue, roughly $4.65 million daily—that's 32.55 million RMB per day, 980 million RMB per month."

'Honor of Kings' brought in 1.3 billion RMB monthly; even with competitors, this game's dominance could not be stopped—it had matured over years with refined mechanics and tournaments."

Even with Tencent's social traffic, it could no longer hinder the game—players had formed habits."

'Honor of Kings' revenue continued climbing as the mobile market expanded."

These three games generated roughly 3 billion RMB in monthly revenue; conservative estimates placed gaming revenue alone at over 30 billion RMB, nearing 40 billion."

Gaming was simply too profitable—this was still before 'PlayerUnknown's Battlegrounds' launched its mobile version, but it was coming soon; the summer would see the mobile release, and this lucrative market could not be abandoned."

Meanwhile, the Douyin Information Flow Advertising platform, JuliangEngine, had launched—advertisers could now directly place ads here, selecting click volumes and target demographics."

After the Information Flow Advertising launch, Douyin's monthly revenue exceeded 500 million RMB and kept rising, as its business model was still being refined."

Of course, live streaming remained mature—Douyin's traffic exploded, monthly active users surpassed 200 million, making it a national-level app with explosive growth."

With massive traffic, live streaming revenue also surpassed 1 billion RMB."

This year was Chang'e Technology's breakout year—every metric of traffic and revenue was growing exponentially."

Due to Chang'e Technology and Yutu Film's dominant positions, Fang Hong declared: "Any celebrity who appears on Panda Live to promote it will be blacklisted.""

This caused many celebrities with scheduled appearances to back out—Chen Chichi and others dared not appear on Panda Live."

They could only politely decline Xiao Wang's invitations."

Even Swan Castle issued a public notice: "Any streamer who ignores copyright bans and streams Swan Castle games on Panda Live will be permanently banned.""

The wording was polite, but the meaning was clear."

In other words: any streamer who disregards copyright and plays Swan Castle games on Panda Live will never again be allowed to stream Swan Castle games."

It was just a threat—Fang Hong had no intention of actually doing it, since those streamers were just trying to make a living—but he intended to completely shut down Panda Live's options."

There were plenty of other platforms; there was no need to stream on Panda Live."

This move truly terrified Panda Live's major streamers—permanent bans were unbearable."

They told Xiao Wang directly: "General Manager Wang, we can't hold out anymore—wait until you settle the copyright issue with the Principal, then we'll come back!"

As a result, not only did small and medium streamers leave, but a large number of major streamers also departed."

PDD went to Douyu; Zhou Erke went to Douyu; Thomas went to Huya; Feng Xingyun went to Huya—regardless of contracts."

Panda Live could not fulfill its contracts—it didn't even have the copyright; it wasn't that they refused to stream, but that they couldn't."

These major streamers chose platforms like Douyu and Huya because they offered signing fees and salaries—Douyin offered neither, relying entirely on personal effort."

This greatly strengthened Douyu and Huya, while Panda Live gradually declined, with revenue plummeting and losses mounting severely."

Streamer salaries and high bandwidth costs were enormous, since live streaming required high-definition video transmission."

Plus, the astronomically paid streamers had all left for other platforms; unrestrained subsidies left Panda Live with massive deficits."

In short, once the Principal took action seriously, Panda Live stood no chance—it was now only one court injunction and compensation order away from death."

Xiao Wang didn't give up—he sought funding everywhere, but investors like 360 and LeEco who had previously agreed to invest now backed out."

Who would dare invest under these conditions? It's like seeking death."

"Dad, Mom, that Principal bastard is ruthless—he drained all of Panda Live's streamers. All my hard work is about to be destroyed, and he's even demanding I pay him damages!" Xiao Wang collapsed into his parents' arms, crying like a child."

"Don't worry, don't worry—how much do you need? Mom will give it to you." Xiao Wang Ma patted her chest, taking full responsibility."

"You can't treat his business problems like handing out pocket money," Lao Wang Zong said."

This was too indulgent—this hole couldn't be filled for now; the more you filled it, the deeper it grew. Only time would tell when Panda Live's fate settled."

"Then what do you suggest? You can't just watch your son suffer!" Xiao Wang Ma said."

"I'm thinking of a solution," Lao Wang Zong sighed."

Now Yutu had completely severed ties with Wanda Cinema Line—refusing to play along, no hesitation—and had issued broad invitations to host the 'Tu Ying Conference.'"

It was clearly targeted at Wanda—extremely specific."

The conference attracted many supporters, especially Huayi, which shouted the loudest, declaring it would be the first to join the Tu Ying Conference."

It even declared: "Wanda is acting against the tide! This time, Wanda must pay the price.""

It shouted loudly, with no concealment—no one understood why those two brothers had become so eager; weren't they supposed to have deep grudges?"

Chang'e, Bona, Huayi, Xinli, and other giants were all under the Principal's control, putting immense pressure on Wanda."

"Lao Wang, who exactly is this Principal? What's his background?" Xiao Wang Ma also wanted to seek justice for her son.

"What background could he have? A guy who crawled out of some rural backwater, and in just a few years he's whipped the entertainment world into a frenzy. Huayi was the one he took down not long ago." Lao Wang Zong explained.

"Is this guy that impressive?" Xiao Wang Ma's expression grew solemn.

"He's very impressive. And the funny thing is, Huayi is his sworn enemy, yet now they're helping him deal with me, loudly hollering about slaughtering Wanda. I can't for the life of me figure out how the Principal pulled that off." Lao Wang Zong really wanted to ask those two brothers if their brains had short-circuited.

"We're supposed to be on the same side. The Principal wrecked you guys that badly—have you forgotten already?"

Xiao Wang Ma nodded thoughtfully.

"So what's this Principal's attitude? Is he determined to take down Panda?" she asked.

"He said Xiao Wang has to bow down, pour tea, and apologize to his wife, or this matter isn't over." Lao Wang Zong said.

"Mom, I won't apologize. His wife is just an actress." Xiao Wang spoke up immediately.

"Good, good!" Xiao Wang Ma patted her son's hand to comfort him, then asked, "Who is his wife?"

"His wife is called Liu Tianxian. She's an actress." Lao Wang Zong said.

"Her! An actress—how could my son be made to apologize to her? Absolutely not allowed." Xiao Wang Ma's face changed, turning resolute.

She knew Liu Tianxian. She'd heard of her. An actress!

Lao Wang Zong fell silent. This matter was getting bigger and bigger, and the outcome was already beyond his control.

"Son, don't worry. Even if Panda is gone, you'll still live comfortably. This so-called Principal—let your dad and me handle him." Xiao Wang Ma comforted her son.

"Mom, I just want the Principal dead, kneeling before me." Xiao Wang said viciously.

"Don't worry, son."

Xiao Wang Ma nodded, then said, "Lao Wang, we still need to find a way. We can't let the other side run amok like this."

"They've already proactively cut ties with us and are determined to go head-to-head with me to the end. I don't have many options either. All I can do now is respond." Lao Wang Zong said.

If the Principal's "Tu Ying Conference" really comes together, all he can do is respond.

They've cut ties with him, but his theaters still need content, need films.

What Wanda can do now is nothing more than hold up the box office payments owed to Jade Rabbit, but the other side has Chang'e Technology backing them—casually prepaying Jade Rabbit over a billion in licensing fees would be enough to weather it.

And they still have TV dramas, variety shows, and the like, plus overseas channels. It's very hard to contain them.

Just as the family was discussing countermeasures against Fang Hong, the livestream market and the film and television market were both being profoundly affected by the conflict between the two sides.

With May Day approaching, besides Jade Rabbit and Wanda cutting ties, the entertainment industry was also buzzing about the Principal's Tu Ying Conference.

Da Xiao Wang even sent a heroic invitation to Wang Changtian, urging him: "Lao Wang, we both share the surname Wang—you must attend!"

Wang Changtian hadn't met those two brothers in person; this message had been delivered by someone.

"The Principal isn't giving an inch. What I can't figure out is what those two Huayi brothers are doing, hopping on the bandwagon and shouting along." Wang Changtian was quite puzzled by this.

The cover read "Heroic Invitation," just like the old martial-arts world of ancient times. Seems every man has a jianghu情结.

Many people received this heroic invitation.

Even Zhang Hongsen received an invitation to the "Tu Ying Conference." He even flipped through the cover of the invitation.

It depicted a dashing martial-arts figure, drawing a bow backward, arrow aimed at an eagle soaring in the sky. It actually looked pretty热血.

"This is pure nonsense," he muttered.

He then opened another envelope—this one was proper, titled: "Opinions on Promoting the Healthy Development of the Film Exhibition and Distribution Industry!"

(End of Chapter)