With the Time Shop, I Too Am the Greatest Conglomerate of All Time

Episode 83. Search portal business.

Oh-chan Jung, president of Hongin Media, asked.

“It is not difficult to create a system that can ask information that you do not know. But will it work? Of course, users will flock to you at first. However, all kinds of questions will pour in, and it will be difficult to answer all of them, so the number of users will drop sharply soon.”

“You can answer all those questions.”

“.. realistically, it doesn’t seem like it would be easy.”

“We don’t do it ourselves, but we just need to create a system so that someone who knows the answer will reply to us.”

“Hmm. Even if they know the information, I don’t think many people would take the time to reply.”

“You have to offer compensation. The person who gives the answer is classified as a wise man and then a ranking of wise men is created. The higher the performance, the higher the ranking.”

“Is ranking alone effective?”

“Absolutely. Even if it seems like nothing, the moment people’s lust for honor comes into play when the rankings change. That’s a lot more terrifying than I thought. There will be a lot of people who try to give an answer with the aim of increasing the ranking itself. Besides, if material rewards are paid according to the ranking, people will be more drawn to it.”

“It is a material reward.. How much do you think the reward is?”

“The reward itself doesn’t have to be huge. If you were given a gift certificate worth 10,000 won, that would be enough. You will feel a greater sense of accomplishment by adding to your desire for honor and the satisfaction of being rewarded.”

“Besides, creating this system of wisdom has an additive effect. If we make the answers of the Wisdom to be searched only on our search site, we will have an edge in information over other sites. People will come to our site to find wise answers.”

In fact, not long after the wisdom-in system came out, other search sites in Korea searched for the answer of the wisdom-in person and presented it as a result, and Moiber took measures to prevent the search for the answer of the wisdom-in person on that site.

Because of that, the site even filed a lawsuit against Moiber.

In the end, they lost.

Since then, it is not an exaggeration to say that almost all search sites except Moiber have died, and Moiber’s influence has increased.

Moiber will grow so large that its market capitalization belongs to a large corporation.

After thinking for a moment, President Jung nodded.

“It is a sensible statement. If you build it well, I think it will be a good weapon.”

“yes. And if we add creative works like comics and novels to this, our opponents will no longer exist.”

“I think it’s a good way to use creative work. But how can we get good creations, and since people will never read a creation once they have read it again, we will have to constantly create new creations.

“You made the point very well. Finding good creations is simple. That’s how good treatment is, for example, by guaranteeing income equivalent to that of executives at large corporations, and by providing additional bonuses based on performance.”

“Hmm. The downside is that it costs a lot of money.”

“You have to bear the cost. It will be a big help in the battle for share.”

A good creation could attract thousands or tens of thousands of people.

It was an item that was more effective than any other advertisement.

“..you seem to be expecting a pretty big effect of your creations.”

“yes. President Jung will also be surprised to see the results. It will show so much power that you would think it cost nothing. And all creations will go in serial format, so new creations are constantly being created.”

“Ah, are you talking about the PC communication serialization method?”

“That’s a good way. I think going into a serial format will be more effective in catching customers once they’ve come in, rather than simply creating a new creation.”

“Yes. How is it? Wouldn’t this be enough to compete with other search sites?”

“yes. I thought that search sites should only compete with search engine performance, but that was just a bias.”

“haha. In the future, it will be difficult to succeed in any business with only one factor. That one factor is something that competitors can have enough.”

President Jung looked at me with curious eyes.

“How do you know all that, sir? When I talk with the director, I feel like I am talking to the president of a chaebol who has been in business for 50 years.”

“I do not know. Just let God help me.”

In fact, it was the devil.

Jung nodded his head.

“but. Without God’s help, it would be difficult to be born with such a talent.”

“haha. Are you envious?”

It was an unexpected answer.

“why? Wouldn’t it be nice to have business talent?”

“It is my dream to retire at 50 and enjoy a leisurely old age. But if I had that kind of talent, I thought I would die of old age after working all my life.”

Even though I had a creepy feeling, as if those words were predicting my future.

He put on a carefree expression.

“..that is also prejudice. I will retire at fifty and enjoy my old age.”

“haha. I hope you can. Seriously.”

“Because it will!”

#end of August.

Haner Music Group’s headquarters in the US.

A sales executive was briefing the quarterly earnings data.

“This quarter’s results are expected to total $21 million. Among them, album sales amounted to $11 million and MP3 music sales were about $10 million.”

When he finished, CEO Daniel Turner applauded.

“Great. What is our share?”

“It went up 4% and now it is 19%.”

Daniel laughed out loud.

“Shh. Now, there’s not much difference between that Universal and Shawny. very good.”

The executives quarreled and opened their mouths.

“Mr. Turner’s determination to sell MP3 music is finally paying off. The market share has risen by 8% in just six months.”

“It is not wrong to say that we made a mark in the history of Haner Music. Mr. Turner’s decision will be passed down like a legend as long as Haner Music exists.”

Daniel laughed again.

“haha. What other legends? But I think this decision wasn’t bad. There is an image that the East is a country of mystery, so somehow I didn’t want to miss that merchant.”

In fact, it was because of the persuasion of the publishing executive Ethan.

The fact had already disappeared from Daniel’s mind.

At that moment, Ethan said with a look of concern for something.

“Mr. Turner. There is one clause in the contract with Damoyer that could be problematic.”

“okay? What is the provision?”

“The contract period between Hana and Damoye is 6 months, this is the provision. At that time, I vaguely said that it would be good to increase the market share quickly, but I passed it on without much thought, but now that I think about it, it seems that Mr.

“Why is that provision? After six months, can’t we just sign the contract again?”

“It is, but I think the conditions for maintaining market share will be missing this time.”

It was then that Daniel’s face hardened as if he had sensed the seriousness.

“You mean he’s going to sign a contract with another record label besides us?”

“her. Are there any raccoon-like guys? So at that time, the one-year contract had to be extended by six months. Did you anticipate everything like this in advance?”

“Perhaps it was.”

“Then this is not the time to just laugh like this. Ethan, you should fly to Korea and meet him. We remind them that we helped each other in difficult times, and we don’t need conditions for maintaining market share. Just be sure to get the exclusive right to distribute only our Haner Music Group’s music in MP3 format.”

“Well. Will Mr. Kang really give us the monopoly to that extent?”

“If it is difficult to negotiate, please raise the settlement ratio of music sales. It’s 30% right now, but it’s okay to give up up to 35%.”

“That would be enough for me to try. All right.”

However, when he arrived in Korea, Ethan felt that something was going wrong.

#Everyone’s head office conference room.

waiting for fortune to come.

Harold, an executive at Universal Music Group, recalled what happened at the company’s headquarters in the United States.

***

At that time, CEO Paul Thompson was holding a cigar the size of a finger in his mouth.

It had already been lit on fire, the tip of which was burning red.

Harold saw it and asked.

“Mr. Thompson. You quit cigars 10 years ago, right? Have you been smoking secretly in the meantime?”

Paul laughed bitterly.

“Is that possible? This is exactly what I smoked after 10 years and 31 days.”

“..you seem to be in a lot of trouble.”

“Is it just serious? It’s been a while since I couldn’t sleep properly because of stress.”

“Was it that much?”

“sure. Right now, I’m on the verge of becoming the most incompetent CEO of Universal Music, but it’s even weirder when I fall asleep.”

“..sorry. If I had sold MP3 music well, things would not have come to this point.”

“no. I found the job so easy. Selling CD records and selling digital sound sources were fundamentally different issues, but I ignored that point and recklessly turned over MP3 sales to you. Of course, it’s not going to be good.”

MP3 sound sources differ from CD albums in both consumption and approach patterns.

On the other hand, CD records are expensive and can only be purchased at a store.

MP3 music was cheap, and there was no need to go to the store.

Of course, the sales method should have been different from the way CD albums were sold, but Paul only realized that now.

“..what now? If we keep going like this, in the next quarter, we might give up the No. 1 position in market share to Haner Music.”

“Is there any other way? Harold, you can fly to Korea right away tomorrow and come all together to make a contract.”

“If that happens, they will look down on us even more and place unreasonable conditions on us.”

“I know. However, there is nothing to regret if Damoye is like this, but we are not. Probably, after just one quarter like this, the former CEO will step down. And most of the executives in charge will not be able to hold their positions.”

“It will hurt your self-esteem, but even if the person in charge is a bit arrogant and you agree to all the terms and conditions, you have to sign a contract. Things are not very good right now. Many young Americans enjoy music with MP3 sound sources. CD sales continue to decline, and most of the new musicians are flocking to Haner Music. Even the existing musicians are starting to show signs of leaving one by one, so all we have left is bankruptcy.”

“If that’s the only way, I know. I will definitely come to conclude the contract to sell MP3 music.”

As soon as Jaewoon entered the conference room, he smiled slyly.

“You are a little late for universal music. You’ve already been to Shawnee Music.”

Harold smiled hard.

“Did you? But if you look at the conditions we have prepared, you will think that it was just too late.”

He shrugged his chin, wondering about his fortune.

“Oh! That being said, I’m looking forward to it. Let’s talk about the conditions for Universal Music.”