Episode of My First Million with Sam Parr and Shaan Puri.
Transcript
Note: This transcript was auto-generated from YouTube captions. It may contain errors and lacks speaker identification. A full Gemini audio transcript will replace this.
Kind: captions Language: en dude there’s this guy uh people are gonna laugh at me because i don’t know or if you know who this is uh is it andrew lloyd webber i forget who i forget the guy’s name is that the fan of the opera guy yes so you get school of rock phantom of the opera and evita which are all big hits that i’ve heard of and then i’ve never heard of jesus christ superstar but yeah that’s apparently like done in the 70s yeah he uh he’s a billionaire yeah so i looked up so when i thought of that play model i was like is the play is the play business a good business it could be and i think it can be so the the top the top ip definitely accrues like a [ ] ton of value like i said if you you can go look at like lion king is grossed like two point something billion dollars uh that’s the number one stage play number two hamilton is like getting up there it’s like it’s like number two or three now but it’s like very new so it’ll it’ll surpass lion king if it just keeps going um there’s like fan of the opera there’s mamma mia there’s like so you take the top ten and they’re all doing like hundreds of millions in gross sales okay now you don’t get to keep the gross sales but i think you could do this in a way that works so like the guy who created hamilton lynn manuel whatever his name is yeah but did the uh did the author get paid too on that one uh so he gets so this guy lynn who’s the creator of it he uh has like a seven percent royalty or something like that wow so he’s made like tens of millions of dollars off of the the profits they actually crowdfunded the thing uh so what they did i don’t have the full story in front of me because i’m just trying to say this off top my head from a memory but i think what they did was to raise the money to create the thing they had like a bunch of patrons basically chip in money and they all get to keep a profit share after a certain amount of money had been recouped and so that investment has been paid over like 10 times so if again if i was hustling i’d be like hmm there’s web3 [ ] going on interesting a lot of people flush with cash buying into [ ] okay cool digital tickets nfts okay what can i do with this and i would basically raise 10 million dollars through an nft pre-sale of the show and uh in different tiers like you know some of the tickets have backstage passes attached to them some of them don’t whatever it’s interesting and i would i would just let people buy buy this i’d raise 10 million dollars i’d use the 10 million dollars to go into a bunker to create whatever the health hamilton black people is and then i would hamilton brown people for indians oh yeah sorry not black people brown people so then i would take that show on the road and i would just try to i would be like yeah i know it’s hard but like being a successful stand-up comedian was also like a 0.1 percent success rate or whatever um you know to get to where he’s at so like yeah you want to get to the point one percent success rate but this time with a superior business model that um doesn’t require your face on stage saying the jokes yeah i think that’s sick i think that’s a that’s a great idea i think that’s actually that’s wonderful i think and that could be incredibly creative creatively fulfilling i wish i had said it on the spot it’s like one of those when you’re in an argument and then like later you’re interested in that oh [ ] i should have said that that’s what happened to me but luckily we were still hanging out at that moment so i was able to tell them you know then ah this is a cool idea i think in the next couple episodes what i’m going to do is i’m actually going to bring in i’m going to do some research on the broadway business or like theater i guess what do you call it theater yeah um it’s actually an interesting idea i was always curious because american idiot basically they did this so billy joe armstrong wrote green day wrote american idiot the album the song they turned it into a uh a rock musical right you didn’t have to be there they didn’t have to be there you know exactly and they got paid a lot from it book of mormon let me see how much book of mormon has made of mormon yeah 500 million dollars has been the gross ticket sales of book of mormon and then if you did something like a hamilton or like a lion king or whatever you could take that same ip those characters you have merch you have like other that ip is your key is you got to own the ip and um you know so so i think you know when that when book of mormon launched it says it was bringing bringing in 19 million per month so like i don’t know what south park generated lifetime but like i bet it’s kind of like on par with that uh or you know i guess south park’s probably a bigger success um oh wow south park okay just in 20 i didn’t know this happened actually it looks like a couple months ago the south park creators signed a 900 million dollar deal for more episodes for for uh six years uh with viacom cbs that’s insane i didn’t know that that’s actually amazing that’s amazing right now is the best time ever to be a like a production company or an ip holder and we said this a long time ago remember i said someone needs to there’s all these platforms now you got at the time it was netflix amazon prime and then i said disney plus was gonna come out it hadn’t come out yet um and then there was like you know there’s hulu there’s all these different platforms apple tv plus came out um they all want original content they’re all hungry for content and they are betting billions of dollars uh budgeting every single year to buy content i think netflix or amazon or something like they’re paying like six billion dollars per year for content uh for new content production and so it is the best time ever to be a seller of content at the time we had said somebody should create yc for content basically the way that y combinator helped produce software startups and i just said hey two engineers okay you’re 21 years old you graduated from stanford all right come here this is essentially like a business school but you’re going to create a little business and you know maybe you can sell to facebook or google or you’ll end up becoming the next airbnb you’ll go public i think the same thing with the content where you come in as two kind of like creatives you have a pitch for an idea of a show you want to create you have three months to basically create the sizzle reel or the pilot or whatever and then there’s a demo day with a bunch of buyers from all the big streaming platforms and they just buy options on your [ __ ] and um i just think that’s a beautiful i still think that’s a great business idea and it’s only been proven when south park signs a 900 million deal with with cbs uh shonda rhimes i think signed a couple hundred million dollar deal with netflix to produce six shows um reese witherspoon sold her production company which didn’t even have that like for like a billion for like a billion dollars um like this is you know this is tech startup money that’s being sold for for tv content which is amazing so you know that’s a that’s way more fun than building software way more way cooler um way cooler than that and i think today hussmannaj also announced his production he created a production company today he announced it like 100 things called 186k productions or something like that which is smart again like once you see reese witherspoon and other people’s production companies selling and we had rob deerdeck on i think he said he sold his production company for 200 something million he said that he i think he said he’s walking away with 100 him personally yeah so like i think you know at least let’s say at least 100 million probably closer to 200 million he sold his production company which basically just produced shows for mtv that’s a great business to be in and i think it’s only going to get better for like this kind of five year period