got 47 million A + round financing from Fortune Capital, Weibo and other institutions, valued at 400 million, how does Joy Pictures achieve these with establishment of less than three years?

On January 11, Joy Pictures announced that it had won the lead investment of Fortune Capital, a well-known domestic investment institution, and the fellow investment of several other institutions, such as Sina Weibo, with A+ round financing of 47 million and a valuation of 400 million. 

Just over two years after the establishment of Joy Pictures, how to help One Hundred Thousand Bad Jokes, Pancake Man and Mr. Six become hot style, how to help A Chinese Odyssey 3 get a big victory on the first trial release, and how to complete two rounds of financing within half a year in the favor of obtaining capital? For this reason, the reporter interviewed Zhang Jin, founder and CEO of Joy Pictures.

Innovate the marketing mode, create three hot styles within a year

Zhang Jin is a continuous entrepreneur who founded an advertising company with friends. In 2014, he found opportunities in the rapidly growing film and television industry, so he decisively turned to establish the Joy Pictures.

At the beginning of its founding, Joy Pictures assumed part of the ground promotion work of the Great Hypnotist, Gone With The Bullets and so on, and began to dabble in the field of film promotion. 

After many practical training, Zhang Jin hoped to find a breakthrough for Joy Pictures. At this time, One Hundred Thousand Bad Jokes appeared. At that time, the low cost 2D film adapted by quadratic element was not optimistic, but Zhang Jin thought that the small project was well coordinated, the structure was relatively simple, and it was easy to control. In addition, the quadratic attribute of the film is likely to make it a popular style. Zhang Jin decided to gamble and take the marketing of the whole case of One Hundred Thousand Bad Jokes. 

The film introduced Sina, Xiaomi, SUNING and other joint promoters, and at the press conference let these heads from different fields support for the film, causing widespread concern among fans.

In order to highlight the differentiation of the audience in the temperament of the film, Joy Pictures adopted an unusual and personalized method, typing the slogan of "over 40 years old audience please watch the film accompanied by teenagers". After breaking through the core audience, it attracted more people's curiosity.

Zhang Jin called this phenomenon "Rippling Effect," throw a stone into the middle of the lake, as long as the stone is heavy enough and accurate enough, it will produce ripples. Similarly, fully communicate with the core population to resonate and identify with them, through them to do a wider range of diffusion. In addition to spreading the content that created, they also generate new energy.

Finally, Ten Hundred Thousand Bad Jokes won 120 million box office, creating a box office miracle of domestic quadratic animation film.

The second hot style made by Joy Pictures is Pancake Man. After Joy Pictures took over the film and discussed with the production team, Joy Pictures removed the original "hero style" set by the film and returned to the loser man. By going to Lanxiang, making pancakes in the street, and doing roadshows in the third and fourth tier cities, so the film is down to earth. 

The box office of the film was 139 million on the day of release, breaking the box office record of the first day and one day of the release of domestic Chinese 2D films, and the final box office was fixed at 1.159 billion, ranking 11th in the history of domestic films.

For Mr.Six, Joy Pictures adopted another set of marketing strategy. In the early stage, there is not fully sure of the film's commercial attributes, watching group and so on, Joy Pictures focused on how to break through.

Joy Pictures made use of his strong executive ability to successfully plan and hold a "Mr.Six" concert, in addition to the film starring, but also invited "rock and roll Mr.Six" Cui Jian, this large-scale cross-border marketing created an excess popularity for the film in the early stage.

In addition to the popularity of the actors themselves, Joy Pictures also took Feng Xiaogang as the core, formulated Feng Xiaogang + New Year movie season, handsome and actors, feeling of father and son, brother feeling and so on, and continued to spread the influence of the film.

In addition, the film also participated in the Taiwan Golden Horse Awards, Venice Film Festival and Toronto Film Festival, Joy Pictures through the packaging of these major events, to add public praise to the film.

In view of the literary and art attribute of the film, Joy Pictures fully excavated its commercial elements and packaged the film into a gangster film. It was not until before its release that it returned to the emotions, film aesthetics and characters conveyed by the film. After the film was released, Li Yifeng produced a family letter and other materials, magnifying the feelings of father and son, arousing the resonance of fans. In Zhang Jin's view, it is precisely the Mr. Six emotional items magnified, so that it has become a hot style.

After two years of development, Joy Pictures has become a leader in the field of film marketing, however, Joy' ambition is more than that.

Opening up the integrated mode of promotion and distribution l to carry out cross-border Cooperation

Since the end of 2015, Joy Pictures has spent a lot of time preparing for the distribution team. The first thing for the distribution team is to learn to do marketing, so that when they do the release, they know how each distribution node and the publicity node match, which is called promotion and distribution integration. Publicity team know how to distribute, distribution team know how to promote, so that from the formulation of the entire market strategy to the executive end can match.

n addition, Joy Pictures also binds the profits and rewards of publicity and distribution together, so as to ensure consistency, and everyone fully cooperate with each other in their work and run in with each other.

"Before the troops move, the grain and grass go first." after making full preparations in the early stage, Joy Pictures has been waiting for good opportunities until he met A Chinese Odyssey 3, and Zhang Jin thought the time had come.

Although the negative public opinion before the film is serious, in Zhang Jin's view, if you put it in a suitable schedule and viewing atmosphere, and adjust your expectations to the right gear, there is no problem with the film. He told Lv Jianmin, chairman of the Spring Era, who produced the film, his ideas and strategies, and expressed his desire to be released. For Joy Pictures, fame and profit are the second place, and the most important thing is to have a success case. Out of trust in him, Lv Jianmin finally gave up 600 million guaranteed issues and chose Joy Pictures.

The first thing after Joy Pictures took over was to suggest rescheduling, avoid The Bourne Identity 5 and change the schedule to the Mid-Autumn Festival on a full moon night. At the same time, we should cancel all the screenings in conjunction with the issue, as well as all road shows before the release, in order to avoid the risk of public opinion.

At the promotion point, lower the audience's comedy expectations for the film, but magnify their feelings, regardless of the amount of money to invite Lu Guanting to Beijing, did a lifetime love theme conference, and released Han Geng version of the theme song MV. By September, publicity and materials, including star interaction, had all returned to pre-sale, and all the publicity had revolved around ticket sales. In the end, A Chinese Odyssey 3 won 360 million of the box office, successfully opened up the model of promotion and distribution.

Now, Joy Pictures ushered in another "tough battle". In the face of competition from a number of domestic companies, Zhang Jin won the Chinese interest in the biggest Oscar hit film of the year, La La Land, and won a record 14 nominations in the recently announced Oscar nomination list. 

According to Zhang Jin, after winning the rights and interests of La La Land in China, Joy Pictures joined forces with Wanda Film and Television, Sina Entertainment, Tencent and iQIYI Film Industry to jointly promote the promotion and distribution of the film in accordance with the mentality of open cooperation. Under the joint efforts of several major platforms, La La Land may become the most popular style of Valentine's Day in 2017 in China.

Behind the rapid rise: strong executive power and fine management

As a young company, how can Joy Pictures win these projects and rise rapidly?

The first is because they have great executive power. Half of the outstanding team members have the experience of advertising, accumulated a wealth of marketing experience and industry resources. "although there was a lack of experience and cognition in the field of film promotion, the market was not mature at that time," Zhang said. "everyone was on a starting line. Joy Pictures on a similar track before, as long as we were well equipped and thought better than other, we soon won."

Secondly, Zhang Jin believes that the factors supporting the rapid development of Joy Pictures lies in management, from division of labor, distribution, to the shaping and construction of corporate culture.

Joy Pictures has an extremely detailed division of labor, and even copywriting and planning are respectively responsible. In order to bind the interests of employees and the company, Joy Pictures formulated the incentive and project incentive mechanism of equity, and carried out the distribution of the whole staff.

Zhang Jin never thought that Joy Pictures was a team, but an enterprise, with forward-looking plans and in line with the capital market. The company has a set of management structure and mechanism, he is not only one in making decisions.

In addition, Zhang Jin also did what he said, giving employees a full sense of trust, and will not draw big cakes before one thing is determined. Because corporate culture is done, not said, the corporate culture of Joy Pictures is to create miracles.

Financing with business expansion  do IP brand management in the future 

When Joy Pictures was founded, the companies in the film and television marketing publicity industry were relatively independent, and they might specialize in marketing, or one of the links of promotion and distribution. This decentralized state model was not conducive to the propaganda of the film, and the coordination and linkage between the various sectors would not be as tacit as they thought.

And Joy Pictures is going to be a third-party platform with standardization, procedure and strong professional, from publicity to distribution, from strategy to creative content, to the final channel implementation, to do a one-stop platform that can be linked.

It is to see the different attributes of Joy Pictures on the track, Zhongnan Culture has  taken the investment in angel round when it not yet had a successful case.

In June 2016, Joy Pictures completed round A financing, with investors investing in Sino Wisdom. Then, half a year later, it completed the lead investment by Furtune Capital,  A+ round of fellow financing by Sina Weibo and so on.

Sino Wisdom and Future Capital are also pure financial investment companies. Sino Wisdom has an upstream and downstream layout in the cultural and entertainment industry, which can bring more business or linkage resources in addition to more funds for Joy Pictures. Sina Weibo is a strategic investment, Joy Pictures hopes to combine its resources with outstanding experience, implementation and planning capabilities into more specific, product-oriented, targeted product resources.

Zhang Jin revealed that the reason why Joy Pictures can get these investments is to rely on the systematic and professional control ability of the film market; secondly, Joy Pictures is a de-resourced company with market capacity as its core competitiveness; and having market ability means being able to cooperate with different resource subjects.

Whether it is angel round or A+ round financing, Joy's current three times of financing are related to the expansion of the business. "Joy Pictures on the capital to do endorsement, hope that every action and every kind of business expansion, the magnification of the layout, can be accompanied by the action of capital." Zhang Jin said.

With the integration of promotion and distribution and out of the overseas, Joy's next goal is to be a IP brand manager. In the entertainment industry, so far, there has not been a professional comprehensive company that can brand IP, evaluate the value, establish the system, manage the operation, and be the first to gnaw at the bone.

Author: Xi Rui  

Responsible Editor: Jiang Wei  

Chief Editor: Qiu Zhuang

Selected from:Interview the CEO of Joy Pictures, Zhang Jin: got 47 million A + round financing from Fortune Capital, Weibo and other institutions, valued at 400 million, how does Joy Pictures achieve these with establishment of less than three years?