Abraham opened his mouth, but in the end, he shook his head helplessly. This was a capricious choice, he knew it, and he believed that Teddy knew it too.
An album like "Don Quixote" shouldn't be expected to make money; avoiding significant losses would be considered a victory.
The global music market was currently sluggish. Even though North America remained the most prosperous region, the glory of albums selling tens of millions of copies, which was common a decade ago, was a thing of the past. Nowadays, the top-selling album of the year might not even reach five million copies. Even more astonishing was the fact that selling just two million copies could land you in the top twenty or even the top ten year-end sales charts. Back then, two million copies wouldn't even guarantee a spot in the top fifty.
From Abraham's professional perspective, he estimated that "Don Quixote" would sell between 150,000 to 200,000 copies in North America. At least, the name "Renly Hall", which was currently in high demand, still had some influence. Combined with the boost from the singles "Cleopatra" and "Ophelia", achieving this level of sales was still possible.
Abraham wasn't making baseless claims.
For reference, Norah Jones's godly album "Come Away with Me" had only sold 600,000 copies before the Grammy Awards in a still-thriving market in 2002.
More recently, Bruno Mars' debut album, "Doo-Wops & Hooligans", hadn't even reached 700,000 in sales yet, even after two Grammy nominations in February of this year, which had boosted sales.
Considering all these factors, Abraham believed that "Don Quixote" couldn't possibly exceed 300,000 copies in sales, even if a miracle were to happen, it would be exceedingly difficult.
Producing an ordinary album had a minimum industry standard of $250,000 just for recording and production costs. For independent musicians, costs might be somewhat lower, but not significantly. As Teddy mentioned earlier, the upper limit was $100,000. This indicated that Teddy was well aware that this was a crazy gamble, and he was trying to minimize the losses as much as possible.
However, the album wasn't complete once it was produced. The so-called "$250,000" was only the cost for the recording and production phase. After that, there were expenses for design, packaging, duplication, and more. Then came the need for distribution, release, and promotion, among other things. Each step required funding. While it wasn't to say that higher promotional costs directly correlated with better sales, it was undeniable that excessively low promotional costs would hinder the possibility of achieving good results.
For record companies and distribution companies to recoup their costs and even make a profit, sales were the primary factor, and royalties came second. However, royalty earnings also had to be based on outstanding sales performance, creating more possibilities for the use of the rights. But if an album's sales were only around 300,000 copies, then profitability was nearly impossible.
This was the reason Abraham declined George.
As a music enthusiast, he loved "Don Quixote" and couldn't wait to hear the complete version; he believed he would be captivated by it. But as the captain of Atlantic Records, he couldn't simply approve a project he knew was a losing venture, even though he personally couldn't resist the allure of "Don Quixote."
Moreover, in the end, Atlantic Records wasn't his company; he was just a working stiff. Teddy could be capricious, throwing himself into the dream and art with reckless abandon, but he couldn't.
Upon careful reflection, perhaps this was a good thing. At least there was still a company willing to release "Don Quixote". At least there was an independent record label tirelessly supporting artistic creation. At least there was a producer willing to passionately craft an album, and at least there were musicians who could maintain their composure in pursuit of artistic heights. Most importantly, at least his dream could now become a reality.
After "Don Quixote" was released, Abraham was certain he would purchase not just one copy.
He hoped that this would be another album worth cherishing in the 21st century. In the past decade, such albums had become increasingly rare, so rare that you could probably count them on both hands. The heyday of the 1970s, where there were dozens of classic collectibles released every year, was a time long gone. Therefore, he was more eager than anyone else to see "Don Quixote" smoothly released. This was his pure hope as a music enthusiast.
"Teddy, thank you," after his thoughts had gone full circle, Abraham expressed his most genuine emotions to Teddy. It wasn't just courtesy or acting; it was a heartfelt wish and expectation. "I sincerely hope that this album can be successfully completed. I think you still have a lot of work to do next. So, I won't continue to disturb you here. After I go back, I'll quietly wait for the album to be released."
Then, Abraham took his leave, leaving the workspace to them.
Joy came too quickly, and it was also quite unexpected. Before even saying goodbye to Abraham, they were about to dive into formal negotiations. George's mind was filled with a whirlwind of thoughts, and for a moment, he didn't know where to begin. He looked at Teddy in front of him, feeling uncertain because he knew next to nothing about the Bell brothers. There were plenty of rumors but no real dealings.
"When it comes to this album, how many songs do you think are acceptable?"
Just as George was pondering this, someone next to him spoke up, not Nathan but a stranger they had met for the first time today. George didn't even know the man's name, let alone his identity. He glanced at Nathan, sending an inquiring look, but before Nathan could respond, the man continued.
"I'm talking about the upper limit. For example, twenty songs. We would make it a double-sided CD album. Would that be acceptable?"
Calm, confident, unruffled, and most importantly, clear and composed in speech, not too forceful but sticking to the point. In just one conversation, Teddy began to have a new perspective on the person before him. It was evident that this was someone with decision-making and negotiation skills, a seasoned negotiator. "Before we delve into the main topic, why don't you introduce yourself first?"
Teddy was clearly not a pushover either. He politely ignored the other party's attack, and the underlying message was, "In what capacity are you negotiating? Do you have the qualifications?" In an instant, he brought both sides back to the same starting line.
"Roy Lockley," Roy introduced himself without haste, smiling. "I'm here representing Renly Hall in this discussion. Nathan can vouch for that."
Nathan, sitting beside them, had question marks all over his face, looking at Roy in surprise. He clearly didn't understand what Roy was talking about because Renly hadn't mentioned it to him, nor had Andy. So, why did Roy say this? Also, why was Roy representing Renly? He thought Roy was just a friend of Renly.
Nathan could feel the gazes of both Teddy and George directed at him, and the pressure on his shoulders made him feel a bit breathless. What should he do? Deny or confirm?
During the recent conversation, Nathan hadn't been directly involved, but he had heard everything. While he didn't understand all the intricacies and interests involved, it didn't mean he was clueless. He knew that Roy was fighting for Renly's interests and striving for more opportunities for the album "Don Quixote". If it weren't for Roy, the current situation would still be shrouded in mystery.
In his mind, Nathan couldn't help but recall the last time he had met Roy. Back then, amidst a crowd of reporters, Roy had successfully rescued Renly and they had conversed quite happily. Wasn't there a certain resemblance between that situation and today's?
Nathan clenched his fists inwardly and made up his mind. Even if he couldn't be of much help, he couldn't drag Roy down. So, he responded after contemplating for a moment, "Yes, Roy is a close associate of Renly Hall."
Associate. This definition should be correct, right? An associate could imply a friendship, a business partner, or even a spokesperson. Saying it this way shouldn't cause any harm, should it?
Deep down, Nathan was still somewhat uncertain. He subconsciously looked up at the recording booth, where Renly was still deeply engrossed in recording. Her conversation with Herbert occasionally echoed through, completely ignoring everyone else in the studio. Nathan then withdrew his gaze and focused intently, listening to the discussion before him. Until Renly finished her work, this was the only thing he could do now.
"Before we sign the contract in black and white, I believe Renly will carefully read the terms," Roy added. His words instantly relaxed the atmosphere, and George couldn't help but smile.
Teddy could sense Roy's focused and concise gaze upon himself, polite yet unyielding. He understood the meaning behind this gaze: it was time to discuss the actual business. Teddy was beginning to believe that this was indeed a negotiation expert representing Renly. "Regarding the album's tracks..."
Herbert, wearing large earmuffs that enveloped his entire ears, listened repeatedly and attentively several times. Finally, he lifted his head, gesturing "ok" to Renly with a relieved expression. The tension in his shoulders eased, and happiness appeared on his face.
The recording was finally nearing its end. Originally, they had planned to record sixteen songs and then select ten from them. However, during the recording process, the number of irreplaceable tracks had increased. They had now completed the recording of seventeen songs, with just one more left to finish all the recordings.
Next, Herbert would delve into post-production and the challenging task of selecting ten songs out of the eighteen they had recorded. Just thinking about it gave him a headache.
"Hey, where are they?" Renly opened the soundproof door, walked out, and was greeted by an empty recording studio, leaving her bewildered.
"What?" Herbert, who hadn't realized either, turned around to look, his face also filled with confusion.
When had those people left?