wavenovel Chapter 1321 Challenge
Chapter 1321 Challenge
Chapter 1321 Challenge
"...XO's success in the United States this time marks Kpop's first official entry into the world's largest pop music market, and its significance goes far beyond the music itself."
"...Billboard main chart rankings, streaming data, online buzz, and global trending rankings—these achievements have given Kpop, and our company, a certain degree of influence in the mainstream US music market for the first time. Many international brands and promoters who previously kept a wait-and-see attitude towards us are now proactively contacting our company seeking collaborations."
In the largest strategic conference room at SM headquarters, cool white light shone evenly on the long conference table, its surface reflecting the outline of the ceiling, so smooth it could cast a shadow. A faint smell of disinfectant lingered in the air, mingled with the rich aroma of freshly ground coffee.
At this time, EXO was holding its first major meeting after returning to Seoul from their activities in the United States. During this period, the performance and development of EXO, and even SM Entertainment, were phenomenal. Every day could be described as a new leap and progress in the company's main business. The entire company had been in a state of excitement for the past month.
So rather than a strategy meeting, it was more like an awards ceremony... to introduce recent achievements, business breakthroughs, and future development prospects to all senior executives.
On one side of the long table, almost all of the company's top executives, represented by Lee Soo-man, were present. The directors, representatives, and ministers, who were usually stern and unsmiling, relaxed their serious brows and leaned back in their chairs, occasionally exchanging excited glances with the marketing director next to them.
Lee Soo-man sat in the main seat, his fingertips lightly tapping a printed data report. He couldn't suppress the upward curve of his lips, and his signature small eyes behind his curved glasses gleamed. His signature smile made anyone feel that he was in a very good mood.
The heroes and protagonists of this event, EXO, were all present, sitting in two rows on the side of the long table as idols.
These kinds of internal meetings are usually difficult for SM idols to attend. Although artists are the ones who create success, the company often sees the company's operations, planning, and investment as the reasons for everything. So even if an idol is very popular, their status within the agency is actually not high.
But now, EXO is clearly different.
A restrained yet surging joy filled the meeting room. Although no one spoke loudly, everyone's eyes sparkled. The sounds of pens lightly tapping on the table, the rustling of papers turning, and the occasional suppressed giggles mingled together, creating a low hum that seemed to vibrate the entire room slightly.
"...The Ministry of Culture, Sports and Tourism officially sent a letter of commendation on the 25th of last month, highly recognizing XO's outstanding contribution to enhancing the national image and the influence of the Korean Wave during this overseas activity. This is an official affirmation of our company's internationalization strategy and the achievements we have made in Europe and America."
"According to preliminary results, after opening up the North American market, sales of digital audio sources and related revenue have also increased significantly. It is expected that the company's overseas revenue will account for more than 50% of total revenue this quarter, a historic achievement. As a result of this news, the company's stock price has risen by more than 30% cumulatively."
Representatives from various departments excitedly reported a wide range of data and achievements, creating a lively atmosphere in the conference room. Finally, Lee Soo-man delivered a concluding summary:
"The company's achievements this time are enough to be written into the company's financial statements and K-pop history. Next, the company will build on this success to further expand its global investment layout, including promoting in-depth cooperation with producers in Europe and the United States and expanding distribution channels in the English market. XO's success this time does not only belong to XO, but also to the entire company. It will provide solid data support and brand endorsement for SM's next global strategy."
"Clap clap~"
Seeing Director Li's passionate delivery, a loud round of applause immediately erupted as soon as he finished speaking.
After all, what he said was indeed something closely related to everyone's interests, and it was something everyone should be happy about.
SM Entertainment has had a very strong year, with several of its groups achieving remarkable success. Apart from NCT, whose popularity and reputation were significantly affected by Moon Tae-il's scandal and departure, many other groups, such as Red Velvet, Girls' Generation, and Ji Kyung-won himself, have achieved very satisfactory results.
However, although these groups have achieved remarkable success in their home countries, apart from Ji Kyung-won's solo career, their achievements are somewhat insignificant compared to EXO's overseas accomplishments.
At the end of last year, SM was actually quite conservative about the development of this year. EXO had basically hit its ceiling in the Korean Peninsula, and the inevitable decline was bound to happen. At the same time, due to industry boycotts, it was not easy for them to make a comeback in the Korean Peninsula this year, and they were forced to focus their attention overseas.
It's fair to say that the entire company, and even EXO themselves, had been quite anxious before.
Japan is alright, they have previous successful experience, and EXO is popular there, so I'm quite confident.
However, the North American market is different. From a very early time, even before the concept of Kpop existed, entering the North American market has always been SM Entertainment's long-cherished dream, and countless companies have tried to break into it. From BoA to Girls' Generation, they have all made efforts and attempts, but in the end, they have all failed. There is not a single successful precedent.
Even for EXO, who have already achieved great success in the peninsula and Asia, the company doesn't actually have much confidence.
Surprisingly, it actually succeeded!
Even now, many people in the company still feel a sense of floating as if in a dream when they look back.
More importantly, it wasn't until they broke into the US market and achieved some success in the world's largest music market that they realized just how much profit they could make.
It's a feeling of suddenly finding the world vast and open once you've entered the door.
The upward curve of SM's stock price is rising steadily, step by step. The recent surge in SM's stock price every day is enough to prove the market's optimism about the company.
This has only been going on for two months, and it has only temporarily opened up the market... What if we continue the campaign?
Amidst the excitement, something called ambition emerged irresistibly within the company.
The EXO members were the same; everyone seemed very excited... because the income from overseas markets is much higher than that from the domestic market.
The other members were quite excited, but Ji Kyung-won was relatively calm. Although Lee Soo-man was exaggerating, he was indeed quite proud of the success of the boy group in breaking into the North American market.
However, compared to things like stock prices, he is more concerned about the company and EXO's future plans.
"The company has already finalized the future development plans for EXO with New Vision Records..."
Sure enough, we heard it soon enough.
After their fourth tour concludes this year, EXO will officially embark on their fifth tour next year, significantly increasing the number of shows in North America. Market research conducted by both SM Entertainment and New Vision Records indicates a very positive outlook for EXO's tour market.
Musically, they will strike while the iron is hot and continue their efforts. The remix version of "Boy with Luv," a collaboration with Selena Gomez, will be released soon. At the same time, the new album will promote collaborations between EXO and well-known North American artists, releasing several new collaborative singles to expand their popularity and influence.
It is said that the activity and enthusiasm of EXO fans has already sparked widespread discussion in the North American industry, giving many people a sense of awe from the 'K-pop idol industry'. Coupled with their inherent high popularity online, in an era that increasingly values online community topics and streaming media, many North American artists are not afraid to collaborate with them, and many are even quite interested. It is said that quite a few people have already sent invitations.
Meanwhile, EXO's new American album is already in meticulous preparation.
"...This album will still focus on the original K-pop style and dance advantages, while retaining the essence of the previous albums and adding a certain emphasis to the musicality."
"The song selection process has already begun. New World Records has invited several well-known European and American musicians to contribute songs. We'll be adding some English songs to test the waters this time, and we'll be doing the same thing on our end. Korean songs will still make up a larger portion of this album, Kyungwon..."
As he spoke, Lee Soo-man looked at Ji Kyung-won, who had been listening attentively but with a somewhat languid expression: "The response to 'ON' was very good. From the style and arrangement to the choreography, New Vision gave it very high praise. You will still be highly involved in this album, and we need some suggestions from you on the songs."
EXO's successful entry into the US market this time was primarily due to the militarized support from their fan base, followed by the company's successful promotional strategies and investment. However, the album's unique style, the highly popular song "ON," and its choreography also played a significant role, with Ji Kyung-won contributing considerably to the success.
"I see."
Chi Jingyuan didn't say much upon hearing this, but simply nodded in agreement.
This is something he enjoys, and it's his job, so of course there's no problem with it... Besides, it's really gratifying and fulfilling that the songs he helped create and produce have achieved success in North America and even the world.
Seeing that Ji Kyung-won had agreed, Lee Soo-man squinted and nodded affectionately at him. Then, as if remembering something, he chuckled and continued looking at Ji Kyung-won, adding, "By the way, New Vision will be arranging for XO members to make cameo appearances in some American dramas, to promote the show and increase their popularity. You've been specifically mentioned, so North American fans can witness the brilliance of our country's Best Actor..."
"Hahaha~"
As soon as he finished speaking, the surrounding board members and senior executives all started to laugh and jeer, and even Chi Jingyuan shook his head and laughed along.
To be honest, he's not really interested in guest appearances on American TV shows. Lower-end opportunities are meaningless, and he can't get top-tier ones.
Moreover, his mindset is different from others; he doesn't have a North American filter and doesn't think American TV series are necessarily more sophisticated. He's already filming so many shows on the Korean Peninsula that he can't even finish them all.
"Needless to say, the company is also very optimistic about EXO's development and has promised to invest more resources next year to promote relevant cooperation and expand the scope of the tour."
In the end, Lee Soo-man was also filled with passion, swinging his old fist as if trying to shatter the facade of his company's artists' failed attempts to break into the US.
"Next year, let's strive for it, Ani... whether it's XO or the company, to firmly establish ourselves in the world's number one record market!"
"Clap clap clap!"
…………
The commendation ceremony, which celebrated achievements and looked forward to the future, was a great success, and everyone was very satisfied.
However, EXO and SM's development and achievements this year are indeed exciting enough. JYP, which owns Twice, has had a stroke of good fortune in the past two years. In particular, the company's stock price has soared this year with the continued popularity of Twice and its huge success in Japan.
However, even though JYP has been so lucky and has grown so fast, it still can't catch up with SM's pace.
Girl groups' revenue is still somewhat lower than that of boy groups.
As the first boy band to break into the American market, the revenue, money, and influence they brought far exceeded many people's expectations.
After the commendation meeting, Chi Jingyuan and the other members did not go far and had lunch together in the cafeteria. In the afternoon, they went to another conference room to continue the meeting.
Unlike the somewhat exaggerated and weak boasts in the morning, this time they talked about EXO's very detailed schedule and plans for the rest of the year.
"...With our activities in the United States coming to an end and us back in Seoul, our top priority now is the release of the Peninsula album."
In the morning, the company was full of high-ranking executives and distinguished guests, but this time only EXO's management team was present at the meeting. Manager Ahn Seung-won held a stack of documents and said in a clear voice: "This album is a full-length album, and it is also our fourth full-length album. The corresponding preparations have been underway for a long time. You have also been practicing the songs and dances for a long time, so I don't need to say anything more."
"What I want to say is that this is our most important task right now, and we need to speed things up as much as possible. The company has set the release date before the end of the year, and we must strive to complete it before then."
EXO's fourth full-length album was in preparation long ago, even before the US album, but it was put last due to the weight of the relevant factors, so Ahn Seung-won didn't say much about it.
His focus, however, was elsewhere: "What I want to say is that although our previous activities in the United States have been quite successful, you shouldn't keep taking that to heart. Although the peninsula has an inherent affinity with North America, there are still significant differences between the two regions."
"Our last comeback on Peninsula was on June 11, 2016, with our third full-length album, and today is November 2, 2017, which is almost a year and a half ago... EXO has been away from the Peninsula music scene for too long."
As the manager's tone became more forceful, the EXO members, who had previously appeared somewhat lazy and frivolous, couldn't help but become serious and even changed their sitting posture.
"The group's situation on Peninsula this year has been far from ideal, and I believe you all know that. A lot has happened this year, and the exposure of your relationship at the beginning of the year had a huge impact on the fan base..."
As he spoke, Ahn Seung-won naturally looked at Kim Jongin, and even Park Chanyeol and the others. These guys had different expressions, some indifferent, some helpless.
"The recording scandal that followed, the constant online smears and rumors, and the extremely long period of silence... Although our popularity on the peninsula did not decline significantly on the surface due to our overseas achievements, according to the company's observations, our popularity and various data have actually declined significantly, especially our fans. Local fans have experienced a large-scale exodus of fans because of what happened before."
"I've already shown you the materials I just presented. Although we've achieved good results in Japan and North America this year, our success in the US market can't stop the decline in the Korean Peninsula market, especially with the strong rise of Wanna One, which has already taken away a lot of market share and fans."
"I know you guys haven't quite adjusted your mindset yet, but look at these statistics and data, I can say this: this year, the most successful boy group in the Korean Peninsula music scene is Wanna One, and right now, the hottest group here is Wanna One, not EXO."
An Chengyuan's voice was loud and deafening. Although the members all pursed their lips and didn't want to admit it, Chi Jingyuan looked through the materials that had just been sent to them and found that the data and market research conclusions really didn't seem to have any problems.
However, An Chengyuan did not exaggerate the other party's words, and quickly changed his tone: "Of course, this is also the reason why we have not yet returned to the peninsula this year."
"But no matter what, the boy group market in the Peninsula music scene is no longer the case where we had a monopoly just two years ago. Now Wannna One is our biggest competitor."
"This is our comeback after a year and a half. This fourth full-length album is very important to us. If it doesn't perform well, we could become a laughing stock."
"Because the company received accurate information..."
At this point, the agent paused briefly, sensing that all eyes were on him, before continuing with a cryptic expression:
"After learning about EXO's upcoming release plans, Wanna One's agency, YMC, proactively brought forward Wanna One's original comeback plan scheduled for early next year and accelerated the album's production."
His words caused a change in the expressions of several members around him, including Chi Jingyuan.
"So, our return this time will very likely run into them..."
An Chengyuan glanced around at the members, his tone somewhat complicated:
"You can think of Wanna One as XO in 2013 or 2015, when they were preparing to challenge their seniors as top boy groups."
"However, this time, we are the ones being challenged."