Modern family: Addition

Backstory : Star wars (2)

After knowing that, George Lucas still hasn't landed any agreement with any major production house regarding Star wars; I knew immediately that despite the fact that it's early and rather premature for me to enter Hollywood at this time, I, in any good conscience, can't let go of once in a lifetime opportunity of bringing this billion dollar franchise (> 50 billion dollar as per latest data available in my previous life) under my wing.

In my previous life; The Star Wars franchise had been incredibly successful at the box office. The original film, "Star Wars: Episode IV - A New Hope," grossed over $775 million worldwide, at that time, making it one of the highest-grossing films of all time. Not only that, there are other films under this franchise that grossed over 2 billion dollar at global box office at their time of release. The franchise as a whole has generated billions of dollars in box office revenue Only.

And it's not just about money but much more. Eg. Cultural Impact: In my previous life; Star Wars had left an indelible mark on popular culture. The series introduced groundbreaking special effects and immersive world-building that captivated audiences worldwide. Its impact could be seen in the countless references, parodies, and homages in other films, TV shows, books, and even video games.

Fan Engagement: In my previous life; Star Wars had one of the most passionate and dedicated fan bases in the world. Fans actively engage with the franchise through conventions like "Star Wars Celebration", where they can meet fellow enthusiasts, attend panels and screenings, and immerse themselves in all things Star Wars. The fan community had also embraced cosplay, creating intricate and detailed costumes of their favorite characters.

Merchandising Phenomenon: Similarly; Star Wars was renowned for its extensive merchandising empire. From action figures and clothing to video games and collectibles, the franchise had generated billions of dollars in merchandise sales. The release of new Star Wars films and TV shows often lead to a surge in merchandise demand, showcasing the enduring appeal of the brand.

Expanded Universe: In my previous life; Star Wars had an extensive expanded universe beyond the movies. This includes novels, comic books, animated series, video games, and more. The expanded universe had allowed fans to delve deeper into the Star Wars mythology, exploring new characters, planets, and storylines.

Inspiring Future Generations: Star Wars has inspired countless individuals to pursue careers in filmmaking, storytelling, and other creative fields. Many filmmakers, including Steven Spielberg and J.J. Abrams, have cited Star Wars as a major influence on their work. The franchise's enduring popularity has ensured that new generations continue to be captivated by its timeless storytelling.

These are but few shining stars that has attracted me to take on this opportunity. Even though it will be a premature move from me but with this early move; I will have plenty time to nourish this decision to healthy self.

So, at that time, when I got the confirmation that George Lucas still hasn't landed any solid confirmation; I jumped and presented my appointee in front of him to discuss the financing for his film.

For the meeting to be not appear very abrupt and to make negotiation smoother and not get short end of stick with classic Hollywood practice of opeaque flow of funds; under the advisement of my team, I cleared the signal to recruit an able and experienced personnel, if not top notch, to join our team for our coming negotiation and also stay with us until project gets completed.

Hiring an insider with good experience and adequate & creative interpersonal network in Hollywood is so important that it can't be explained in mere words. Before going over the next course of action, Here’s a fun fact for you to mull over.

In my previous life, despite having a clause in his contract that entitled him to a share of the total net profits of " Return of the Jedi", David Prowse didn’t get so much as a single thin cent from Lucasfilm from this because, on paper, Return of the Jedi then until I knew, had been a massive financial failure… How was this possible you ask? Well, it’s all thanks to a wonderful concept known colloquially as “Hollywood Accounting”, or more accurately “How to Lose Friends and Screw People”.

Hollywood accounting, also referred to as Hollywood bookkeeping, is a set of accounting methods employed by the film, video, television, and music industry to manage the financial aspects of creative projects. This practice involves utilizing opaque and sometimes creative techniques to budget and track profits generated by these projects.

The main objective of Hollywood accounting is to manipulate expenditures in order to reduce or eliminate the reported profit of a project. By inflating the expenses, the amount of taxes, royalties, and other profit-sharing obligations that the corporation must pay can be minimized. These financial obligations are typically based on the net profit of the project.

The term "Hollywood accounting" originates from its widespread usage within the entertainment industry, particularly in the movie studios of Hollywood. This was especially prevalent during a time when most studios were situated in Hollywood. Not only do writers and actors bear the impact of this accounting practice, but it also affects production companies, producers, and investors.

There have been numerous instances where creative accounting practices have been legally challenged and resulted in significant damages awarded. These cases have led to court battles that have exposed the extent of the financial manipulation and have compelled the industry to address these issues. In some instances, hundreds of millions of dollars in damages have been awarded.

It is worth noting that these accounting practices have faced criticism for their lack of transparency and fairness. While they may serve the financial interests of the studios, they often disadvantage individuals and entities involved in the creative process who rely on a fair share of the project's profits.

Notable examples of this bastion of pencil pusher ingenuity include the Lord of the Rings trilogy, which New Line Cinema asserts was a “horrendous loss” for the studio despite it grossing some $3 billion worldwide in theaters off a combined budget of just $281 million, let alone all the money made after in DVD/Blu-Ray sales, streaming rights, games, and other merchandise.

Moving on to Harry Potter and the Order of the Phoenix, this one apparently lost Warner Bros $167 million while simultaneously being one of the most successful films the studio has ever released, grossing just under a billion dollars.

In yet another case, the 2002 surprise blockbuster My Big Fat Greek wedding managed to bring in $370 million (about $536 million) off a production budget of a mere $5 million, yet somehow managed to lose the studio $20 million… So, yes, they apparently lost four times the production budget itself. This means, if the studio is to be believed, they’d have been better off throwing the film in the trash after spending the $5 million for filming and producing the film, rather than earn their cut of that $370 million in ticket sales and all the revenue streams that came after.

Perhaps best showing how it’s impossible to make money in Hollywood is the case of Forrest Gump- one of the most critically acclaimed and successful movies ever made, which cost $55 million to make. Despite this relatively low figure, unfortunately for executives at Paramount studios, it never turned a profit after grossing nearly $700 million at the box office. (Our condolences to the executives and their families, after no doubt all of the executives were fired for backing such a financially disastrous project for the studio.)

These are by no means cherry picked examples, with some estimates suggesting that upwards of 80% of all major studio releases lose money according to the studios, which somehow magically manage to stay in business anyway.

So, yes this system is very twisted & swayed and designed in this fraudulent way which will result in actual losses for almost everybody except for those who are on the top of this food chain. And quite frankly this design is very profitable for those who designed it, control it and use it for their advantage. And since I'm going to be at the top of this vertical structure; I, by no means, wants to dismantle the structure that will allow the milk and cream to flow in my fields.

But then again since I'm not at that plateform right now; I have to excercise adequate caution until I reach the top floor via backdoor created by my money, intelligence and foresight.