Chapter 6: Virtuoso: The Ultimate VR Music Experience

"We will invest a total of $5 billion in the film industry. We will also directly produce three movies, each with a budget exceeding $500 million."

After Eleanor finished speaking, more than 90% of the people in the room gasped in disbelief.

A budget of $5 billion and three movies with budgets exceeding $500 million each? This level of financial commitment was unprecedented. It would set a new record for the highest annual expenditure in the film industry by a staggering $2 billion.

While the board members were generally supportive of the company's ambitious vision, it didn't necessarily mean they were ready to embrace such a significant risk.

Ethan, a 63-year-old board member, was the first to voice his objections. He raised his hand, and Eleanor nodded, granting him permission to speak.

"President, I think we should proceed with caution. Given that we've just emerged from a crisis, prioritizing stability might be wiser than undertaking such a substantial risk."

"I don't mean to be overly critical, but let's consider the three movies as an example. If two of them encounter significant problems, we could end up losing over $1 billion. Such an outcome could jeopardize the company's financial health."

The room was buzzing with murmurs and worried faces. Some board members exchanged uneasy glances.

After Ethan finished speaking, another board member, Clark, 59 years old, raised his hand.

"President, I share Mr. Ethan's concerns, but I have additional worries to address."

Clark adjusted his glasses and continued, "At the beginning of the meeting, you mentioned that we aim to impact the music industry. However, if we commit $5 billion to the film industry, it will undoubtedly affect our ability to invest in the music industry."

"How will this massive financial commitment in film influence our liquidity and flexibility, particularly when we are also heavily investing in new ventures across various sectors?"

The three major sectors in the entertainment industry are the film sector, dominated by Astor Entertainment, the music sector, led by Thunder Entertainment, and the gaming sector, ruled by Noland Entertainment.

Although each company dominates its respective sector, they are not exclusively confined to that area; they simply excel in their primary domains.

If the company invests $5 billion in the film sector, it is highly likely that it will restrict the capacity to make substantial progress in the other sectors due to a lack of available funds.

Did Eleanor fail to account for this and make decisions arbitrarily? Absolutely not. She has been meticulously planning every step since she assumed office. It's just that, given the current momentum, it is an opportune moment for the company to make a significant breakthrough.

She paused for a moment to show that she had indeed considered their concerns before continuing with a calm and persuasive voice.

"Please don't worry about these issues. We've conducted extensive market research and financial projections. This increase in investment is not arbitrary but is supported by detailed financial models and anticipated revenue streams."

"The $5 billion investment in the film industry will be divided into $1.5 billion for three high-budget films, with each film receiving $500 million. An additional $500 million will be allocated to marketing and distribution for these films, and the remaining $3 billion will be set aside for future film projects and operational costs."

"To manage risks, we have set aside $500 million as a contingency fund to address potential production issues or delays. We are also partnering with experienced production companies and consultants to ensure effective project management and mitigate financial risks."

Eleanor's voice grew more confident:"Our financial projections estimate that each film will generate at least $1.2 billion in revenue, leading to a total projected return of $3.6 billion from the three films. The remaining $1.5 billion will be used to finance additional film projects and expected to generate further revenue."

"Our goal is not just to produce films but to push the boundaries of what is possible within the industry. By setting new records and breaking new ground, we are positioning ourselves for long-term profitability and growth."

"The $5 billion investment positions us as a major player in the film industry, allowing us to produce high-quality films that set new standards. This strategic focus will enhance our market presence and competitive edge, setting us up for long-term success in the industry."

She addressed the worry about putting all their eggs in one basket. "As for the concern that this investment could mean putting all our eggs in one basket and jeopardizing our diversification efforts, remember that I mentioned the company is planning to take two strategic steps."

"The first step involves a significant focus on the film industry, where we see the greatest opportunity for immediate impact and long-term dominance."

"The second step pertains to our plans in other industries, specifically the music industry, where we aim to make a substantial impact."

"Our second step is a major project—one with the potential to transform the entire entertainment industry."

"Our estimates indicate that this project will take approximately two to two and a half years to complete."

"The total expenditure for this project is around $4 billion."

Eleanor's excitement was palpable. "Ladies and gentlemen, I am thrilled to present the project: 'Virtuoso: The Ultimate VR Music Experience.'"

"The objective of this project is to create a groundbreaking VR-based music competition show that will revolutionize the entertainment industry. This show aims to engage a global audience and establish our company as the leader in innovative entertainment."

"Our ambitious project is designed to push the limits of virtual reality and redefine how music is experienced and consumed. By integrating cutting-edge technology with captivating entertainment, we plan to set new standards and attract a worldwide audience."

"We believe this investment in 'Virtuoso' will not only enhance our position in the entertainment industry but also create new revenue streams and solidify our reputation as a pioneer in the field."