Huayu Entertainment 1995 started with hijacking.

Chapter 251 The Black Brothers' Spring Has Arrived
Some people are happy that someone is worried.

Spielberg thinks Pearl Harbor was lucky, but Eisner doesn't. Pearl Harbor was a huge flop, grossing over $100 million in North America but less than $300 million worldwide, and now it can only slowly recoup its losses through DVD sales.

What's even more painful isn't how much the project itself lost—the whole movie probably only lost a little over 1 million, which isn't that serious for a large company like Disney—but the resulting drop in stock price is what's truly devastating.

Since the failure of "Pearl Harbor," Disney's stock has been steadily declining, falling 40% in just three months. What does that mean? It's equivalent to a loss of nearly $20 billion in market capitalization!
This isn't solely due to *Pearl Harbor*; the market has witnessed the poor performance of various Disney businesses, and this set a precedent, leading to a continuous decline. In short, the market has lost confidence in Disney…

If that were all, it wouldn't have been so bad. However, Disney stock suffered another blow: the sudden occurrence of 9/11. This caused a fund holding Disney stock to be liquidated, forcing it to sell over $1 billion worth of shares, which in turn triggered a further decline. In other words, in less than six months, Disney stock plummeted by 65%, meaning a market capitalization loss of nearly $30 billion.

This caused panic among Disney's major and minor shareholders. Calls poured in from all the shareholders and directors to Eisner. Although Eisner explained that no one could have predicted 9/11 and refused to take the blame, the shareholders didn't care…

“Eisner, you earn over a million dollars a week, plus tens of millions of dollars in bonuses at the end of the year. We're not here to sit in this position and lead us to lose money! If you can't improve Disney's business situation as soon as possible, you know the consequences!”

Eisner hung up the phone with a grim expression. This wasn't just one shareholder expressing such sentiments; he knew that if he couldn't bring the stock price back up, this situation would be truly difficult to overcome.

In the past two years, shareholders have reluctantly accepted Disney's losses, partly due to the unfavorable economic environment and partly because Eisner is deeply entrenched in Disney's corporate culture. Replacing him would likely lead to a period of turmoil for Disney, and the cost would be too high. Therefore, shareholders and directors have not yet taken any action against him.

However, Disney's stock price has plummeted so much in the past six months that many shareholders have reached their breaking point. If another black swan event occurs, who knows who will be the next to go bankrupt? At that point, nobody cares about its deep roots or powerful backing; everyone will vote with their feet.

Therefore, Eisner now realizes he has reached a dangerous point and must take some measures to bring Disney's stock back up.

From a company performance perspective, it boils down to increasing revenue and reducing expenditure. Since there's nothing that can significantly boost revenue in the short term, the only option is to reduce expenditure.

How to cut costs? Layoffs!
Moreover, there are readily available reasons to use: after 9/11, the number of visitors to Disneyland plummeted and has not yet recovered to 60% of its previous level. In order to maintain the normal operation of the amusement park, the only option is to lay off employees and reduce costs.

More importantly, it is necessary to create successful cases to restore market confidence in Disney.

Confidence is key to the stock market. If the market has confidence in you, even if you are losing money, your stocks can keep rising. But when confidence is lost, just like the failure of Pearl Harbor last year, all sorts of problems will erupt at once.

There are successful examples, after all...

Pixar's newly released animated film, Monsters, Inc., grossed $6200 million in its opening weekend and $1.3 million in ten days, sparking a revival in cinemas and undoubtedly becoming a critical and commercial success.

According to the agreement previously signed between Pixar and Disney, Disney not only had a 50% investment in Monsters, Inc., but also had the right to license merchandise featuring the characters during the contract period, thereby generating substantial profits.

Eisner made a direct phone call: "Have the company increase publicity for the success of 'Monsters, Inc.'!"

After hanging up the phone, Eisner thought of Pixar Animation. Disney's own animation had been consistently subpar for years, even with his repeated support, so it seemed he had to get Pixar on his side. But then he thought of Pixar's owner, Steve Jobs, and frowned; that guy was no pushover.

Then, Eisner picked up the phone again and made a call. As soon as the call connected, he heard the voice on the other end:
"Ah, my dear Mr. President, what brings you here?"

Eisner asked directly, "Harvey, how's your new project going?"

This is another project he could think of to succeed in a short time. Harvey spent a lot of effort this year creating an Oscar-nominated film. If it can win big at the Oscars, it will be a very impressive achievement, and he can promote it extensively.

"Wow, that's rare. Eisner, you actually care about me so much. I'm flattered. Tsk tsk tsk~" Harvey Weinstein said sarcastically on the other end of the phone.

However, Eisner didn't hold a grudge at this point and said, suppressing his temper:

“Harvey, are you confident about this year’s Oscars? If you can succeed at this year’s Oscars, I will provide more financial support to Miramax for the next two years.”

Upon hearing this, Harvey Weinstein on the other side immediately changed his attitude:

"Hahaha, Mr. Eisner, things are going very well for 'Chicago' right now! We swept the Chicago Film Critics Circle Awards yesterday, winning Best Picture, Best Director, and Best Actress! This year's Oscars are in my hands!"

Hearing Harvey's confidence, Eisner replied, "Okay, I'll have Disney's PR team fully cooperate with you!"

……

"Oh, Wu, you're finally back!"

The producer of "A Beautiful Mind," Glazer, hugged Wu Yuchen tightly and patted him on the shoulder.

For the past few months, Wu Yuchen has been incredibly busy in China, leading and participating in all the public relations activities for "A Beautiful Mind." From the Toronto International Film Festival in September to the subsequent film critics' association awards.

"Haha, Glazer, I feel very safe with you here. I have complete faith in your abilities!" Wu Yuchen laughed and praised.

To be honest, he didn't want to go through the same exhausting schedule of last year's Oscar PR campaign. Fortunately, this year he had Glazer in charge, and he's a producer with extensive connections in the industry. This relieved a lot of pressure on Wu Yuchen, so much so that Wu Yuchen didn't arrive until December.

But now that Wu Yuchen is here, he'll definitely have to get involved in the public relations. That's also his main purpose for coming to America. "Oh, if you, the director, were here, I think we could win a few more Best Director awards!"

Wu Yuchen smiled and brushed it off, then asked, "Grezer, how have things been these past few months?"

Glazer's smile vanished upon hearing this: "A Beautiful Mind has been well-received and won many awards, but at the same time, we now have a very strong competitor..."

“Chicago, is it?” Wu Yuchen asked.

Glazer nodded: "Harvey is indeed the one who knows the Oscars best. 'Chicago' is adapted from a classic Broadway musical, which will easily evoke nostalgia in a bunch of old men. Moreover, it has depth through its scathing satire of ugly social phenomena, which poses a great threat to us!"

Upon hearing this, Wu Yuchen rubbed his chin. Although he disliked Harvey Weinstein, he had to admit that the guy was indeed capable.

He had previously tried to buy the script from him, but Wu Yuchen refused to sell him a single copy. Unexpectedly, this led him to directly acquire the adaptation rights to "Chicago," bringing the film, which was originally scheduled for release next year, to this year. "Chicago" is indeed a formidable competitor, having received 13 Oscar nominations and won 6 awards in its previous life in 2003.

Wu Yuchen was aiming for awards when he filmed "A Beautiful Mind," and he thought this year would be a sure thing. However, a strong competitor suddenly appeared, and it seems that he created this competitor himself, which left him somewhat amused and exasperated.

However, he wasn't afraid of trouble. While the competition was strong, "A Beautiful Mind" was no slouch either, and it was also a favorite subject for the Oscars. Since they'd already clashed, it was a battle of wits where the brave would prevail; the winner would have to be decided in a single fight!
Wu Yuchen encouraged them:

"Grezer, don't boost their morale while diminishing your own. Last time, Harvey's 'Shakespeare in Love' propelled it to the top of the Oscars, winning so many awards, which already made many of the Academy's more artistically inclined members dissatisfied with him. We need to capitalize on this and strike hard against them when the time comes!"

When "Shakespeare in Love" beat "Saving Private Ryan" to win Best Picture in 1999, it caused a public uproar. Gwyneth Paltrow's Best Actress win was also called the most undeserved Best Actress in history. At the time, many people questioned the fairness and prestige of the Oscars.

As a result, Harvey kept a low profile for the next two years, and the Academy didn't award Miramax any more prizes. Although the Oscars are known for their public relations, many Academy members have artistic aspirations and were resentful of Harvey's forceful approach, which was a major weakness on his part.

Glazer patted Wu Yuchen on the shoulder: "Yep! Wu, you think the same way I do. This time we must seize this opportunity and attack hard! We can't let Oscar become 'Harvey's Oscar'!"

“This slogan is great! ‘Harvey’s Oscar’ will definitely cause a lot of dissatisfaction, hahaha!” Wu Yuchen laughed.

The two had already decided on their strategy in a casual conversation: since your film is of high quality, then we'll focus on other aspects. Oscar PR is all about tactics; Harvey's past actions are reaping the rewards.

However, Glazer then said to Wu Yuchen, "By the way, Wu, there's one more thing. I think we can consider giving up the Oscars for Best Actor and Best Actress this year."

"Huh? Why? What happened?" Wu Yuchen asked, puzzled.

Glazer nodded: "A rumor."

Although the other party claimed it was just hearsay, Wu Yuchen didn't take it lightly at all, as many of these hearsay rumors were surprisingly accurate.

"It's related to the US military intervention this time. The higher-ups hope that this year's Oscars will give more consideration to Black people."

"What? Sending troops? Black people?" Wu Yuchen was caught off guard and hadn't even reacted yet.

Glazer explained, "Although our troops have now broken through Afghanistan, we may still need reinforcements. Therefore, the United States is actively recruiting. As you know, the willingness of white people to join the military has decreased significantly compared to the past, so naturally we need to focus more on recruiting black people."

The authorities hope that at this time, all parties can offer certain concessions to Black people to enhance their sense of belonging and identity. Hollywood, which has always been at the forefront of equality, may be affected by this.

Suddenly, everything became clear to Wu Yuchen. No wonder, in his previous life, the Oscars for Best Actor and Best Actress were both given to Black men for the first time in history. It was because they needed their Black brothers to fight and risk their lives on the battlefield!
Moreover, Glazer was unaware, but Wu Yuchen was well aware that the US would launch another war against Iraq a year later, at which point their reliance on their Black allies would be even stronger. In other words, the American upper class was currently extending an olive branch to Black people, uniting any forces they could utilize.

To make a horse run, you must first feed it. And in this process, the American upper class must grant Black communities certain benefits and rights. The longer the war drags on, the more benefits Black people can continuously gain.

At the same time, Wu Yuchen thought of the fact that after Bush, the next president would also be the first African American president in American history, and he would probably ride that wave of momentum to reach the top. These are all interconnected!
Wu Yuchen let out a breath. The impact of 9/11 was indeed enormous. It was not just a simple matter of counter-terrorism. The chain reaction it caused had truly changed many, many things.

Awards are indeed inseparable from social trends. In the past, it was said that the Oscars were primarily about art and were a vanguard in satirizing and criticizing the US government. Now it seems that this was just because the US government usually ignored it. If they really wanted to use you, wouldn't the Academy of Arts and Sciences still have to obediently bow its head and do its job?

In an instant, Wu Yuchen had a lot of feelings. All the major awards are really just like that; it's all about who has the better methods.

Others might still gamble on a sliver of hope, thinking it might not really be true. But based on his past experiences, Wu Yuchen knew that this year's Best Actor and Best Actress were definitely Black, so he nodded directly and said:

"Then let's just give up on the Best Actor and Best Actress awards. But to be honest, it didn't really affect us anyway, so we don't need to worry about comforting the male and female leads."

Russell Crowe, the male lead of "A Beautiful Mind," just won Best Actor last year for "Gladiator," so it's basically impossible for him to win again this year. Jennifer Connelly, the female lead, has relatively few scenes, so she has no chance of competing for Best Actress. This year, she was originally nominated for Best Supporting Actress.

Glazer laughed and said, "You're right, we don't need to worry at all. On the contrary, I wonder how Harvey will explain this to his leading actors and actresses at 'Chicago'. There might even be some infighting. I really hope he can spend more energy and resources on winning Best Actor and Best Actress!"

Wu Yuchen smiled and said, "That's not something we need to worry about!"

(End of this chapter)