hollywood billionaire

Chapter 45 UTA Plaza

Author: TrojanRW

Chapter 45 UTA Plaza

The conversation between Han Yi and Jordan Bromley continued until the end of the dinner. The two of them chatted quite speculatively and had a simple meal at Blue Silk Sushi between Nordstrom Department Store and AMC Cinema.

What is eaten is not important, what is important is the content of the conversation, from potential acquisition targets of copyright distribution companies, to independent labels that record companies can include, to the regions and fields that live performance companies should focus on, come to

In the new world, Han Yi finally found someone who could compare with him in terms of professional insights in the music industry, or even be a little better.

Seeing is worth hearing a hundred times is a wise saying that has traveled through thousands of years and is still full of vitality. No matter how I read about Jordan's massacre in the field of music copyright in the news in his previous life, it was never as impressive as today's face-to-face and heart-to-heart conversation. This made Han Yi

I am looking forward to the next collaboration with Jordan Bromley.

To show his sincerity, after returning to Stradela No. 864, Han Yi transferred an initial consulting fee of US$20,000 to Manate Entertainment's company account. Within a few seconds, a message from Chase Bank popped up on his phone.

A push message that claimed $20,000. The 100% cash reward, although not much, undoubtedly shows Han Yi’s eager anticipation for Jordan Bromley as a legal advisor. In response, Jordan Bromley posted a

"Ocean" will be released within hours

Eyes" record agreement and distribution agreement were all sent to Han Yi's mailbox.

The agreement was naturally modified from a commonly used template, but Jordan Bromley filled almost every page with dense annotations.

In terms of the record agreement, Jordan Bromley offered Bili conditions based on newcomer standards, a repayable advance payment of US$75,000, an all-inclusive tax rate of 15%, and if the discounted sales from streaming plus album downloads reach 25

For 10,000 copies, the royalty rate will increase by 0.5%. If it reaches 500,000 copies, the royalty rate will increase by 1%. After that, for every additional 200,000 copies, the tax rate will automatically increase by 1%.

Traditionally speaking, the tax rate for a single should be only one-third that of an album. Because in the era of physical records, the cost of releasing a single and releasing an album were almost the same, and both required CDs or cassettes.

The format carries it, but the price of selling one song is naturally not the same as selling ten songs. At the same cost, a single CD can only sell for two or three dollars, while the price of an album can reach eighteen or even twenty dollars.

Ten dollars.

You don’t need to be an expert to see that the profit margin of physical singles is much lower than that of physical albums. In fact, in the past, the reason why record companies would release physical singles was just to start a frontline battle to sell albums. Here

In this case, the record company requires the artist to bear the compression of profit margins with them. If the tax rate stipulated in a singer's record agreement is 15%, then he can only get 5% of the royalties from single sales.

Entering the era of streaming media, smart artists have gradually begun to realize the unreasonableness of this clause, because there is no actual cost to speak of in online distribution, and there is no situation of depressed profit margins. Every playback and every download is a big deal for record companies.

It is said that it is almost pure profit. Therefore, most of the musicians who have already debuted have removed this clause from their record agreements. However, this does not prevent record companies from using so-called conventions to deceive newcomers. If they are not careful,

, musicians’ already small share of profits will be stolen by labels.

Jordan Bromley informed Han Yi in the note that it can be restricted according to the single tax rate downgrade clause, or at least reduced to 10%, considering the newcomer status of Billie and Phineas, as well as the upcoming US$75,000.

It seems that they will not be too sensitive to this number.

But in the end, Han Yi decided to keep the tax rate at 15%. After all, it was a low enough number. Han Yi, who had an 85% share and could recover US$75,000 in advance, had all the advantages. In addition, Han Yi's goal

It's not just this song. Through "Ocean Eyes", the ultimate goal that he and Zhao Youzhen want to achieve is to bind the two children in all aspects.

There are relatively few points to consider in a distribution agreement. Transfer of ownership, a reimbursable creator advance of $25,000, and then a 50/50 split. In the American music industry, there are very few copyright distribution agreements that change the distribution company.

This eternal share ratio with the creators.

However, even so, Han Yi can still appreciate Jordan Bromley's attentiveness and professionalism from some details that ordinary people cannot detect, such as the distribution of the US$100,000 advance payment between the two contracts. Jordan Bromley

Muli put 75% of the advance payment in the record agreement, and the other 25% in the distribution agreement. This was not a plan thought up by a golden lawyer, but was fully based on the reality of the industry.

In 2004, the United States passed the Royalty Rate and Allocation Reform Act - H.R. 1417. The bill modified the way in which statutory tax rates for various types of royalties are established, from the original arbitration panel to the one negotiated by the Librarian of Congress and the Copyright Registry.

, appointed three federal judges as full-time royalty judges, and the Library of Congress Royalty Committee composed of these three people will determine the tax rates that different media channels should pay to copyright owners after using copyrighted products.

On May 1, 2007, after 48 days of oral questioning and 13,288 pages of written records, the Royalty Board set a fixed tax rate standard for online broadcasts for the first time. Every online broadcast platform, whether it plays music works, drama works or

News products are required to pay royalties to copyright owners at this rate.

By the beginning of April 2016, the online broadcast tax rate had been adjusted twice. Now, music publishers can get 10.4% of the total platform revenue from platforms such as Spotify and Apple Music as distribution royalties, while record companies can get 31.2%

The total revenue of the platform is used as recording royalties, and the ratio is exactly 25:75.

Setting the 100,000 advance payment for "Ocean Eyes" in the same 25:75 manner can ensure that the 'interest-free loan' Han Yi gave to Billie and Phineas will be both the music copyright and the master tape copyright.

plates, returned to his wallet at the same rate.

After slightly modifying and deleting the remarks, Han Yi forwarded the two agreements to Zhao Youzhen for safekeeping. Han Yi still had a lot to do before handing over the agreements to Billi and Phineas for signing.

Register the music copyright distribution company, record company and artist management company in Beverly Hills, obtain the business tax registration certificate from the city finance office, fill out the LLC-1 form to register with the state government, and finally make an appointment with the IRS

After applying for an employer identification number and completing this series of procedures, you can sign a contract with the musician in the name of the company.

These companies, which aim to become key players in the music industry, naturally need an office space that matches their status. Zhao Youzhen has already started searching in West Hollywood and Beverly Hills. She will compile suitable venues and leave it to Han Yi to decide. Generally

Generally speaking, company registration in the Los Angeles area will be completed within 4-6 weeks. With the help of Jordan Bromley's connections, this lengthy process that is artificially delayed in most cases can be shortened to 1-2 weeks.

In about ten days, he registered the company, found a location, and signed a lease contract with the newly established company. Han Yi's Hollywood career territory was the first territory that was entirely his own.

Creating a kingdom requires patience, and during this time, Han Yi has other things to do.

For example, he went to UTA Plaza to inspect the United Artists Management Company he acquired.

UTA Plaza is only two blocks away from Beverly City Hall, and it only takes five or six minutes to walk to Rodeo Drive. It can be said to be in the central business district of Beverly Hills - of course, Beverly does not have a traditional meaning.

The office building cluster on the street, even UTA Plaza, is surrounded by three four-story low-rise buildings, No. 9336, 9346 and 9348 Municipal Road.

Before the 1990s, this was the largest refrigerated warehouse in Beverly Hills. With the rapid urbanization of the greater Los Angeles area, this warehouse was converted into a 236,000-square-foot building by New York real estate tycoon Tischman Speyer.

High-end commercial real estate.

In 2011, United Artists Agency signed a 15-year long-term contract with Tischmann-Speyer, leasing the entire building at No. 9336 and part of No. 9346. As an important tenant, Tischmann-Speyer

Yeah move this property directly from the municipal complex

It was renamed UTA Plaza, and UTA also plans to use this place as a long-term base. It spent millions of dollars on renovations and built not only a 150-seat private screening room, but also an outdoor private event space for various premiere events.

and promotional activities.

In 2014, the Rockefeller Group, controlled by Mitsubishi Estate, purchased the property here for US$212 million. Encouraged by the new property, UTA even continued to expand its leasing scale. They moved the building originally leased by Playboy magazine into

It was also acquired together, forming the current 191,000-square-foot exclusive office park.

Surrounded by municipal auxiliary roads, UTA Plaza provides a quiet office environment that is not disturbed by the outside world. Less than a hundred feet away from the auxiliary roads, you can directly access Santa Monica Boulevard and smoothly reach all parts of Los Angeles, which makes the office park more convenient.

The performance and practicality are greatly improved.

At this time, Han Yi had just turned into Municipal Avenue from Santa Monica Boulevard. He squinted his eyes slightly in the passenger seat and looked up at the exterior facade made of overlapping glass curtain walls and beige marble surfaces.

"Much better than the previous office."

The black bodyguard Kian Griffin was in charge of escorting Han Yi today. Compared with the Albanian officer Fiamu Derwig, who deliberately kept a cautious distance from his employer, the former obviously did not care so much about this issue. After all, his

The former employer was Suge Knight, a ruthless man who treated both bodyguards and lawyers as gang members.

"Su Ge used to be from UTA?" Han Yi asked curiously.

"The entire Death Row talked about agency cooperation with UTA, but in the end it didn't work out." Kian shook his head, looking a little sad, not sure if he was thinking of Dre or 2Pac.

"What's that like?"

"What is it like?" Kian Griffin was a little confused.

"With the legends." Han Yi recalled Death Row's all-star hip-hop lineup, "Dr. Dre, 2Pac, Snoop Dogg, MC Hammer..."

"Oh, it was a crazy time, absolutely crazy."

Kian Griffin controlled the steering wheel steadily with one hand, and put a fist against his thick lips with one hand. His laughter sounded like it had traveled through an entire era.

"I'm not a rapper, heck, I'm even from the East Coast, but I'm still a member of Death Row, my whole life."

"This has always made me very curious." Han Yi sat up slightly and looked at Kian with curiosity in his eyes. "You are from the east coast, but you work as a bodyguard for Suge Knight... You can correct it at any time. Me, but for me as an outsider, this is a crazy thing."

The struggle between hip-hop and gang forces between the east and west coasts is an inescapable and colorful event in the history of American rap music.

This dispute, from pen and paper to words, tapes and bullets, not only spawned countless classic diss and diss back works, but also led to the demise of the greatest representatives of both coasts.

On September 22, 1996, Louis Farrakhan, a black activist who enjoyed high authority in both camps, held the first protest at the Mariam Mosque in Chicago, a site considered a "neutral city". A peace summit was held to resolve disputes between the two coasts after the assassination of West Coast hip-hop icon 2Pac. However, bloody violent conflicts continued until March 1997, after the East Coast's number one rap star The Notorious B.I.G. was shot and killed in Los Angeles. , Louis Farrakhan held another summit, and it was only then that the two talking heads, Suge Knight and Diddy, finally decided to settle the dispute.

But even after that, there was still a very clear divide between the West Coast and East Coast rap circles. West Coast hip-hop artists couldn't get into parties in the Bronx and Harlan, and East Coast rap stars couldn't get into it. Any applause from Compton and Crenshaw.

Therefore, under such circumstances, it must be said that it is a surprising and strange thing that this bodyguard from New York can actually become the confidant responsible for Suge Knight's personal safety.

"There are many gangs in New York, and mine happens to be in conflict with Biggie Smalls' gang. The East and West coasts only occasionally fight when they go to each other's cities, but we are fighting for our lives every day." Kian said it lightly, but Han Yi knew , behind each of these words is a black life buried in Holy Trinity Cemetery in Harlan, New York.

"When touring the East Coast, Sugar needed someone who really understood the local area, could ensure their safety, and mediate. I was the most suitable person."

"In twenty years of gang career, the reason why I didn't fall down at a certain street intersection is not with fists and pistols, Boss." Kian pointed to his temple, then tapped his lips, "It's here, and here."

"I can imagine, Kian." Han Yi nodded, "In my opinion, you are synonymous with street smarts in their mouth."

"Oh, I don't dare to say that, but it's okay." Kian pouted, accepting Han Yi's praise.

"You shouldn't be used to this kind of life now, right? It's a lot less exciting."

"When you get to my age, life is no longer a G-Funk song." Kian breathed a long sigh of relief and twisted his neck. Following his movements, Han Yi could vaguely see a shocking scar on the other person's shoulder.

"Do I like this life? Maybe not. But I thank God for it every day."

"Full of gratitude...at least I'm not the one who fell down, or the sneakers hanging on the telephone pole."

Kian Griffin's memories came to an abrupt end here, because if he dug deeper, the pair of eyes that fell in the passenger seat of the BMW 750iL and did not close until he died would appear in his mind again.

"Okay, boss, we're at the door. Do you want me to wait for you at the front door?"

"You can hand P1 to the parking attendant and we can go in together."

Han Yi patted Jian's shoulder and said softly.

After turning off the engine, UTA Plaza's exclusive parking attendants had already surrounded them as if they were facing a formidable enemy. They would never drive a supercar of this caliber into an underground parking lot. It was placed in front of them and was supervised by at least two people.

, so that I can feel a little more at ease.

"Mr. Han."

Seeing Han Yi walking up the outer stairs of No. 9336, Vincent Di, who was waiting outside, hurriedly took two steps to greet him.

"Long time no see, Vincent." Han Yi greeted him with a smile.

"Mr. Le Pen and the three founders of UTA are waiting for you in the lobby on the first floor."

Vincent turned slightly to make way for Han Yi.

Looking in the direction of the opponent's raised arm, Han Yi saw Douglas Le Pen's tall and generous back.

Surrounding him were three "old friends" whom Han Yi had never met before, but who were already very familiar with each other.

Jim Burkus, Jeremy Zimmer and Peter Benedek.

UTA Big Three.

Finally met.

Thank you to the new leader, Abai, for standing still and bringing more updates! It’s still the same old rules, more updates will be added to the shelves... wuwuwuwu, I can’t bear it anymore

(End of chapter)