Tengying Entertainment had all of its artists re-sign contracts for ten years.
Unlike before, the penalties for breaking the contract this time are frighteningly high.
Barring any accidents, Tengying Entertainment can remain stable for at least another ten years.
Moreover, with the new contracts, it is clear that Tengying Entertainment has taken the lead in abandoning traffic-driven artists.
Works featuring traffic-driven artists will basically no longer receive large investments.
More crucially, all these traffic-driven artists are pushed to live-stream sales; only if they bring in significant profits will Tengying consider investing in some major productions for them.
The advantage of doing this is very obvious.
That is, to resolve the financial crisis of the past two years and directly boost shareholder confidence through the live-sales sector.
Whether those traffic-driven artists like it or not, as soon as the news came out, Tengying Entertainment's stock price soared.
