"This is a dinsional strike," Takuya Nakayama comnted. "Hollywood's cultural hegemony combined with next-gen interactive technology. Keep the buzz alive, coordinate with Disney's Christmas promotional schedule, and get GG into every family's TV set."
After hanging up the phone, Takuya Nakayama pushed the newspaper clippings aside.
There was a knock on the office door.
Yuji Naka walked in carrying a stack of technical docunts.
"Managing Director." Yuji Naka placed the docunts on the desk. "Feedback from ga dia in North Arica reports that the physics engine's performance in complex scenes is very stable. Pixar is very satisfied with our underlying code optimization."
"Director Lasseter has been heaping praise on you all to the dia." Takuya Nakayama pointed to the pile of newspapers. "The 'Instant Classic' review in The Hollywood Reporter specifically ntioned the imrsion brought by the ga. It notes that this is a milestone in the film industry's extension into interactive entertainnt."
Yuji Naka scratched his head. "It's mainly because Pixar's art assets are just so excellent. We rely ported them into the console. However, this collaboration also exposed so shortcomings in our engine. While it has advantages in handling highly reflective materials, when it cos to fur or fabric, Jupiter's performance struggles a bit."
"Technological iteration takes ti," Takuya Nakayama said, opening a docunt. "Pixar also spent over a decade to reach where they are today. The rendering techniques and pipeline processes you've learned from this collaboration are Sega's most valuable assets."
Yuji Naka nodded in agreent and turned to leave the office.
Back in the United States.
The craze surrounding Toy Story not only swept through box office receipts and ga console sales but also sparked widespread discussion at a cultural level.
On a television talk show, the host held a Buzz Lightyear doll and teased politicians.
Fast-food restaurant children's als included miniature figures of the movie's characters, which were snapped up within days.
Traditional animation studios in Hollywood felt unprecedented pressure.
Inside Disney, executives were both pleasantly surprised and wary of these results.
Burbank, Disney Headquarters Building.
Michael Eisner sat behind his expansive desk, listening to the distribution executive's report.
"The opening week box office broke records, and the drop-off in the second week was minimal. Word-of-mouth has fully taken hold." The distribution executive handed over the latest data report. "All the mainstream dia are singing its praises. We've printed that 'magically witty' comnt from Entertainnt Weekly on the new version of our promotional posters."
Eisner flipped through the report, his index finger tapping lightly on the desk.
"Pixar's fire is burning too bright," Eisner remarked. "Jobs is a shrewd businessman. He used our channels to establish the Pixar brand. Now, all of Arica knows it was Pixar that created this 'instant classic,' not Disney."
"But the distribution rights are in our hands. And the vast majority of the rchandising profits also belong to us," the executive reminded him.
"What about the revenue share from the ga with Sega?" Eisner asked.
"In the agreent we signed initially, Sega paid a fixed licensing fee, plus fifteen percent of sales as a royalty," the executive said, consulting a mo. "Based on the current sales growth rate, this royalty is going to be an extrely substantial figure. We underestimated the explosive potential of the next-generation console market."
Eisner closed the report. "For the next round of negotiations, the terms must be redrafted. We can't let Jobs and Sega have it all their way."
However, the bad news awaiting Eisner and Disney was not over.
Early winter on Wall Street ca with the biting sea breeze characteristic of the East Coast.
In New York at the end of November 1995, the financial district was no longer talking about traditional blue-chip industrial stocks, but about a new ticker symbol soon to land on the Nasdaq: PIXR.
In fact, at the end of 1994, after new CFO Lawrence Levy took office, he had elevated the IPO to the company's core strategy and began preparing for the listing.
At that ti, Pixar was still relying on selling RenderMan rendering software and taking on comrcial advertising work to keep running.
The hardware departnt had long been eliminated, and the animated short film departnt was a pure money-burning machine.
Jobs's personal checkbook was the company's only lifeline.
Lawrence Levy believed that, apart from going public, there was no other way to cover the massive capital expenditure required for feature-length animated films.
Jobs agreed to this plan.
Wall Street did not believe in computer animation without a box-office track record; they needed an unprecedented victory to prove Pixar's comrcial value to institutional investors.
Toy Story was that key.
By the roadshow phase across the U.S. from October to November, institutional investors were initially divided on how to position Pixar.
Should a computer animation company be valued like a Hollywood studio, or like a Silicon Valley tech company?
At an investor presentation in New York, Lawrence Levy changed his usual pitch strategy.
Instead of playing a tedious financial forecast PPT, he had staff wheel out a Sega Jupiter console connected to a large CRT TV.
On the screen, a fully 3D-rendered Buzz Lightyear moved fluidly through Andy's room.
"This is not a movie trailer; this is live gaplay footage of the video ga of the sa na that Sega made for us." Lawrence Levy presented the sales figures to the fund managers in the audience. "Before the movie's release, pre-orders for this ga and the limited-edition console have already exceeded ten million dollars. Pixar possesses more than just a share of the box office; we have the ability to create top-tier cross-dia IPs."
Wall Street understood this logic.
If a movie could drive a $399 piece of hardware to sell out, the monetization potential of this IP would far exceed traditional box office and video rental revenues.
November 28, the eve of the IPO.
In a suite at a luxury hotel in San Francisco.
Representatives from the underwriting investnt banks were holding a final pricing eting with Jobs.
The heads of the two investnt banks, Robertson Stephens and Hambrecht & Quist, sat on the sofa, with thick stacks of subscription intent forms scattered before them.
"Market demand has far exceeded expectations," the lead underwriter said, loosening his tie. "The originally planned issue price of twelve to fourteen dollars is no longer applicable. The institutional subscription orders are practically jamming our fax machines."
Lawrence Levy pulled out the latest Thanksgiving weekend sales report: "The movie's opening weekend box office broke records, and sales of the tie-in ga from Sega have topped 1.1 million units. All 100,000 limited-edition consoles are sold out. Market sentint is at an all-ti high."
Jobs sat in an armchair, twirling a pencil in his hand, listening to the investnt bankers' revaluation.
"Eighteen dollars," an investnt bank executive stated, "That's already a significant premium."
"Twenty-two dollars." Jobs stopped playing with the pencil and tossed it onto the table. "Any lower than that, and we'll postpone the IPO."
Please Support by becoming my patreon mber and get 30 chapters.
[email protected]/Ajal69
change @ with a
Thank You to Those who joined my Patreon
User Comments
0 comments from readers