Chapter 116: Sony's Purpose

New York, as the hub of independent films and the entertainment center of the East Coast, has a considerable number of filmmakers comparable to Los Angeles.

However, Los Angeles has the six major Hollywood studios, which dominate over 80% of the film market, making New York's standing far less significant in comparison.

In Manhattan's Upper East Side, at the intersection of Madison Avenue and 76th Street lies the five-star Carlyle Hotel, where Arthur came to attend a cocktail party.

Upon arriving at the entrance, he overheard Arnold Schwarzenegger being interviewed by reporters, saying: "I quite like the script for Roger Spottiswoode's action comedy Stop! Or My Mom Will Shoot. After all, my performance in the comedy Kindergarten Cop last year was pretty good, proving that I'm not just good for action movies; I can handle other genres too. I am different from some other action stars; my roles can be more varied!"

Arthur immediately understood that Schwarzenegger was subtly critiquing Stallone.

Now, Stallone and Schwarzenegger are the only two actors in Hollywood commanding a $15 million salary, and their competition is fierce!

Stallone became famous earlier and was already earning over $10 million per film in the 80s. Schwarzenegger shot to fame with Conan the Barbarian and The Terminator, challenging Stallone's status.

Stallone once said in an interview with The New York Times, "If I hear my name and Arnold Schwarzenegger's name in the same sentence, I get very angry. He uses stunt doubles in movie scenes."

In 1987, Schwarzenegger, in an interview with GQ, said, "Stallone is obsessed with his tough-guy image, evident from his outfits in all the Rocky and Rambo series. He doesn't put much effort into acting and has no passion for it."

Universal's Stop! Or My Mom Will Shoot? Arthur chuckled inwardly; indeed, it's an action comedy script. Stallone will probably fight for this script after hearing Schwarzenegger's interview.

The competition between Stallone and Schwarzenegger extends to movies, commercials, and more. Since Hollywood stars generally don't do commercials in North America, Japan - being the world's second-largest economy - has become their primary market.

Currently, the only star more popular than them in Japan is Jackie Chan!

"Arthur, you're here," Arthur soon encountered Mike Medavoy as he entered the banquet hall. "Since Sony acquired Columbia and TriStar, they've become increasingly extravagant," Arthur raised his glass and clinked it with Mike Medavoy's. "The marketing budget for Terminator 2: Judgment Day must be substantial, right?"

Having seen Schwarzenegger at the door, Arthur remembered that TriStar was set to release this blockbuster on Independence Day!

"Sony has big ambitions; they're not too concerned with the budget for their works," Mike Medavoy laughed.

Sony Pictures Entertainment's co-CEOs Jon Peters and Peter Guber reportedly spent millions renovating their offices in Los Angeles.

Mike Medavoy pointed and said, "Over there is Sony's founder Akio Morita and Sony America's President Mickey Schulhof."

Arthur noticed several Hollywood stars, including Dustin Hoffman and Steven Spielberg, surrounding him.

Akio Morita, now 70, founded Sony into a world-renowned company. Acquiring Columbia and TriStar was his strategy to break into America's inner circles.

With both software and hardware, a Japanese firm like Sony wasn't well-received in the U.S., just as Morita himself said, despite living for years in a high-end Manhattan Fifth Avenue apartment, he'd never been invited to social events by American political or financial circles.

Morita advocated for Sony's acquisition of Columbia and TriStar not just to enter the content industry but to use Hollywood as a gateway to American high society.

Before Sony's acquisition, Columbia TriStar was valued at $1.5-1.6 billion, and the acquisition boosted it to $2.6 billion; the final purchase price reached as high as $3.4 billion!

After a while, Arthur greeted Spielberg and other Hollywood filmmakers, eventually meeting Sony Entertainment CEO Peter Guber and Sony America's President Mickey Schulhof.

Finally, he also chatted with Akio Morita.

"Impressive, Mr. Smith. Achieving such success at such a young age, Dances with Wolves, I've watched it thoroughly, beautifully shot!"

Morita's English was poor, slow, and heavily accented.

Arthur smiled. "The credit mainly goes to Kevin Costner's persistence; it has little to do with me."

"But The Silence of the Lambs, which recently hit theaters, is also excellent. Jodie Foster and Anthony Hopkins' performances are astonishing," Morita had become a frequent attendee at American private parties since the Columbia TriStar acquisition, meeting numerous Hollywood stars.

After chatting a bit, Peter Guber sought out Arthur specifically. "Congratulations, Hollywood has indeed produced a genius!"

Arthur's streak of successes meant no one could dismiss it as luck anymore; it was clearly due to talent.

Arthur took a sip of his drink, "Looking at Sony Pictures Entertainment's project slate for Columbia and TriStar, your ambitions are evident. The investment in these films is truly remarkable!"

Just like the final production cost of Terminator 2: Judgment Day, exceeding $100 million. Though Carolco Pictures is the principal investor, TriStar contributed significantly as the distributor.

Not to mention Columbia and TriStar's hefty investments in other films. Carolco's generosity is industry-renowned, but it's an independent company.

For a major studio like Columbia to play big is market-disruptive; Sony has definitely played a part in driving up actor salaries!

Peter Guber glanced at Arthur. "If Orion has any good projects for collaboration, just say the word. Budget-wise, there's no need to worry."

"Can you handle anything?" Arthur asked with a hint of implication.

Peter Guber nodded. "Our green light for a $100 million Terminator 2: Judgment Day isn't proof enough?"

Arthur glanced at Mickey Schulhof and then at Akio Morita; Morita was semi-retired now, with CEO Norio Ohga overseeing Sony.

Who knows if Norio Ohga would brandish a samurai sword for heavenly justice upon realizing Schulhof and Guber were bleeding Sony dry?

"Rest assured, there will be opportunities," Arthur was delighted at Sony's financial latitude.

Mickey Schulhof and Peter Guber, now managing Sony's American entertainment market, viewed film budgets as mere numbers!

*****

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