Chief Change Officer - #266 Jean Zhou: From Balance Sheets to Box Office

Episode Date: March 31, 2025

What happens when a sociology major dabbles in accounting, dips into venture capital, and then rewrites her script—literally? You get Jean Zhou. Now a filmmaker and CEO of Wind Entertainment, Jean��s career plotline includes more genre shifts than a Netflix queue. She traded spreadsheets for screenplays and hasn’t looked back since.Key Highlights of Our Interview:Creating Stories: Founding Wind Entertainment“In 2019, I founded Wind Entertainment. Initially, we incubated writers and even won several Best Novel Awards. By 2020, we ventured into drama series, writing our first script, The Starry Love. It aired on four TV stations in China and was distributed to over 30 countries.”Sociology: A Bridge Between Business and Humanity“Sociology opened my worldview and helped me understand people better. Ultimately, the business world is about relationships—between people and people. Sociology gave me insights into the social mind and thoughts, which help decode the essence of business.”The Seeds of a Producer’s Journey“As a child, I had to go to bed at 9 p.m., even though TV programming continued until 10. That early frustration planted the idea in my mind—one day, I’d take control of storytelling. Fast forward to 2018, when I watched the TV series Ashes of Love and realized it was the most incredible thing to create a project like that. I decided it was something I had to try, at least once in my life.”The Limitations of AI in Screenwriting“While AI brings efficiency, its impact on screenwriting remains minimal. Scripts are tailored works of art, built to surpass expectations. AI, by contrast, is a summary of past material, often resembling a Wikipedia outline. Such drafts lack the depth and creativity necessary for a fully developed script that would appeal to buyers.”_________________________Connect with us:Host: Vince Chan | Guest: Jean Zhou  --Chief Change Officer--Change Ambitiously. Outgrow Yourself.Open a World of Expansive Human Intelligencefor Transformation Gurus, Black Sheep,Unsung Visionaries & Bold Hearts.10 Million+ All-Time Downloads.Reaching 80+ Countries Daily.Global Top 3% Podcast.Top 10 US Business.Top 1 US Careers.>>>130,000+ are outgrowing. Act Today.<<<

Hi, everyone. Welcome to our show, Chief Change Officer. I'm Vince Chen, your ambitious human host. Our show is a modernist community for change progressives in organizational and human transformation from around the world. In today's episode, I'm thrilled to interview Jin Zhao, a TV and filmmaker from China. Film making is a multi-billion dollar industry that thrives on the art and business of storytelling. And for a show that shares stories from characters all around the world, how could I not feature someone who has mastered the craft of telling profitable stories?

Jin's journey is nothing short of remarkable. From a small town girl to a sociology major, From a small town girl to a sociology major, she later transitioned into accounting and even moved to the U.S. to work as an accountant. But that wasn't the end. She went deeper into the business world, earning an MBA from Chicago Bull. Another bold pivot took her into venture capital and then back to China, where she built her network and credentials from scratch in the entertainment industry. Jin has written books, scripts, and produced both movies and TV series. How did she achieve all this? And more importantly, why?

It all started with a simple childhood dream, which is a love for TV series, that passion transformed into a devoted career. Let's listen to the story of a storyteller. My name is Jingzhou and I stayed in a small town in China until 18 years old. And for college I went to Shanghai. I studied sociology. And when I was a junior I transferred to Indiana University, Bloomington in America, and picking up accounting and finance as my second and third majors. And after my graduation, I became a financial analyst

in an engine manufacturing company called Cummins. And I did the financial analyst work for three years and went to Chicago Booth for my MBA. And during my MBA, I did some venture capital internship, including in SQL Capital China, Innovation Works, and Capital Today. After my graduation of MBA, I went to a pre-IPO company called iReader Technology. It's a digital reading company, and I was in charge of strategic investment. Meanwhile, I was rotating among several business departments,

overseeing app, product design, operations, writer relationship, and copyright sales. In 2019, I started my own company called Wynn Entertainment, is my current company. First, we incubated writers, and later on, we got several best novel awards. In 2020, we entered the drama series area and wrote our first script, which was released last year on four TV stations in China and distributed to more than 30 countries. The name is the Starry Love.

Every year we have two to three projects under development right now. And we will start our first movie in a quarter and it's about gambling and crime. Above is a listing of my transitions. So when I look back, I figured I never planned all these because I just couldn't plan from a financial analyst in the engine manufacturing company to a producer. Tell us how you made through this transition. I got into sociology in Shanghai and first I just didn't know what I should deal with. So when I picked up accounting and finance as my second and third majors, I figured

one day I need to know more about business, know more about entrepreneurs. I choose to intern in all these venture capitals in China. I wanted to know how the entrepreneurs, what they are thinking about every day and how they run a business. Because I have a goal to start my own business one day. So in my family, we have a travel company and also running a medical company. So that's how we have such a tradition. So I formed this kind of goal when I was very young. So in Chicago Booth, I set a framework for the business analysis,

and the accounting and the finance helped me understand the business knowledge, and through the venture capital, I learned how entrepreneurs, how they swim in competitive world and how they run their companies. So this is a foundation set up for my future plan. Later on, I find that sociology helped me open my world to the world

and also know more about people. So the help of the sociologist, the business world is finally a world between people and people. The understanding and the social mind and thoughts is the business world is finally a world between people and people. The understanding and the social mind and thoughts will finally help understand the rules in the business world and the essence of the business. And the second help of sociology for me right now is designing, choosing, story tests the

maturity and the insight of the producer, especially on her knowledge of the society and human heart. So it's actually a lot of help. That's what I didn't figure out before, but I really appreciate it now. Despite your passion for TV series, how did you build your track record? How did you grow your network in the entertainment industry and eventually launch your first TV series?

When I was very young, like six or seven years old, the TV programming always broadcasts to 10 p.m. in the night, but I was forced to go to bed at 9 p.m. So that progress early impulse for the decision to finally become a producer. So in 2018 after I watched a TV series called Ashes of Love, TV series called Ashes of Love. I feel like it's just the best thing in the world to do such a project. And once in a life, we need to try. So I looked for the producer of that drama crazily,

and I applied my writer resources, and I kept showing my passion. So I convinced him to be the co-producer of the sequel to The Ashes of Love. The sequel is called The Stary Love, and that was the one that was released last year on four TV stations and distributed to 30 countries. I was the co-producer in the content area of that sequel. So through this project, I built my network and I accumulated my reputation as the co-producer. In terms of convincing business partners, I think the first thing is you really need to have previous projects or previous relevant experience.

And you need to have splendid scripts on your hand. And you need to have a detailed development plan, distribution plan, and of course, potential great directors and actors. So that's how we can accomplish this. Is the classic chicken and egg dilemma. From your experience, how did you overcome this challenge to take that crucial first step? How did you gain recognition early on so as to build momentum and eventually move up and accelerate your career? I think the first thing is definitely you need to first establish some connection with this industry.

This is a must, but it doesn't mean that you need to work three or five years in the industry to prove that you have the experience. Like for example, in my cases, I only worked in the upstream chain of this entertainment industry. I worked in IRETA technology. That company is not an entertainment company or it's not a drama series movie company or producing company, but that company has a lot of connection with the copyrights. So that's how I entered the entertainment industry from the resources because I got connected with a lot of writers and the writers later on they become a very key resource in the producing in this area. I think I have a business analytical framework to analyze all problems.

So in this industry, after taking a close look, you will figure out that the most, the core thing is accountant. So from the very beginning, I focus on the accountant side and I communicate with writers, which I didn't do that a lot 10 years ago, but I started and I learned to communicate with all the creators, the writers, directors, actors. I tried to understand how to make the accountant look best. So that's the first thing. And secondly, I know the business language. The entertainment industry, the TV drama or the movie,

it's a very capital-intensive industry. So on the producing side, on the business side, you need to manage the business by managing cash flow and managing all the numbers on your balance sheet or on your four forms. Because I come from the business background, I can translate all these elements into all tools that I need to use. So I am aware of all the risks and all the opportunities. Absolutely. Yes, after you established connection with the industry, you may take the risk to do a whole

project to show that you will have further experience, but that step is definitely very hard. But you can focus on the key of the projects. So the key in the producing projects is content. We all agree that content is the most important element in the trends. If you spend a lot of time in the content, for example, I spent a year writing the book, The Light of the Story, so I analyzed many elements in the story. I figured out some ways to draft a great story, and that's the resources and that's the skills that investors would value in the entire chain.

From what I've gathered, there's no such thing as pure luck or magic behind success. In today's social media-driven world, where people make overnight success seem real, but the truth is, every success story is built on a lot of groundwork. You shared how writing a book became a learning journey for you. Similarly, it's about getting closer to the right circles, meeting relevant people, learning from them, letting them get to know you, and fostering relationships. That's how opportunities start to align with your interests. Even if the first step is more like taking an unpaid job, it gets you in the door and builds momentum.

But I remember you mentioning that when you decided to leave your previous job to pursue your passion for TV, the industry wasn't exactly booming. It was already facing challenges. And then COVID hit, making things even harder. Yet you still took that leap, perhaps partly for educational purposes. So I'm curious, what was the state of the TV industry in China when you decided to make that transition? How did the pandemic reshape things? And what's happening now in the industry? Ten years ago, everybody was looking at this industry and people from all kinds of industries, they wanted to come here to make quick money and speculators and have money. They actually in the past 10 years, they gradually left this industry.

At the beginning of any drama TV projects, it's really hard to get money right now. And we have micro drama series impacting our industry. So the situation is just hard. impacting our industry. So the situation is just hard. But the good thing is the technology and the content, the bar is getting higher and higher and the audience demands more and more and they are willing to pay more. So therefore there are more and more great projects coming. Right now, if there are people still in network industry, they are just people who really love this industry. They love a great work and they have passion for great projects.

The best writers and best projects, they make more money than ever before. I will just say for quality creators, they are getting better. So you were saying, there was a flood of hot money, short-term speculative opportunistic investment driving the entertainment industry 10 years ago. Then came the rise of social media and the internet, which opened the floodgates to content of all kinds. With that surge, naturally, came a lot of junk, low quality, and poorly produced material that overwhelmed the industry.

You mentioned something interesting. Microd drama series. This format seems to have gained traction in China. What exactly is a micro drama series in a Chinese context? How does it differ from traditional format? And what's It's like one minute for one episode. There are like 100 episodes for an entire series. It will be circulated among many people and they can watch the first 3 or 10 episodes for free, but for the 11th one they need to pay, and people pay a lot on these kind of series.

So you're saying that these micro drama series are essentially a volume-driven strategy by tech companies. They invest in creating content, such as hiring writers to craft stories and shooting short series. The initial episodes are free, drawing in viewers, and once the audience is hooked, they introduce a paywall starting around episode 11. It sounds like a clever subscription model, and I imagine they also monetize through advertisements. Your industry in the Chinese context is people-focused and people-driven. Engaging with so many different parties is essential to getting things done. But in the U.S., for example, the launch of open-AI and other AI-driven tech companies,

industries like media, news, and Hollywood have felt significant ripple effects. We've seen things like strikes in Hollywood over concerns about job losses, with AI potentially replacing roles like scriptwriters, producers, and others in the production process. What about China? AI is a hot topic there. In your industry, have you seen AI being integrated yet? Or maybe it's already causing some tension or discussions about its potential impact?

Compared with U.S., China is still at the very early stage of applying AI. But I know it's very helpful for the post-production. It will generate higher efficiency in some special effects for the movies and TV dramas. It's getting cheaper and getting more efficient. However, I think the impact on the writing, on the screenplay is very limited because scripts are tailored arts

and the essence of the content is beating expectations, but AI is the summary of past material. So the results of many AI projects are like a kind of Wikipedia introduction outlines. It has great discrepancies with fully developed script. So if a writer submits the work as is, the script with this quality might not be purchased. I think in China, people are not quite worried about this at this moment. Speaking of AI vs. human,

I have to bring up your bulk, Light of Story. It's in Chinese, not yet available in English, but it's more than a guide on how to tell stories in TV and film. stories in TV and film. It's also about changing. That feels so true and philosophical, perhaps influenced by your sociology background. So given your understanding of the past and the future of the entertainment industry in China. What are some of your future plans for your company? For the next two to three years, we are planning on several runners.

So the first runner we will be developing will be in the social issues and social topics and focusing on small figures and their comic and tragic experiences and small figures with inciting incidents to perform at character arc to generate themes in social mind and human nature. For example, mentally harmed people when they hurt other people whether they are guilty or not. When family and friends if they have secrets, whether they could be forgiven. So we hope to dig into people's reflection and showcase ethics in human relationship. This is our first roundup. The second track is continuing focusing on the love sector,

ancient love and modern love. China has very extensive and profound culture. It will make the ancient love topic more extreme in the background in the history. For the modern love, it will showcase under the fast-growing economy the fairness and freedom of the love relationship. It fills audiences with trust and aspiration for love and good life. To note that the derivatives of ancient love stories are always the bestsellers. So they will have a diary books, eye shadows, live concerts, and those things make more money than the drama

project itself right now. The third direction is about feel-good shows. It's about individuals dreaming big. It records stories on how the protagonist strives for success. For example, a farmer takes a small workshop to IPO, a nobody intern becomes somebody in the end. It's more about entrepreneurship spirit and tenacity, and this will encourage audience to face obstacles positively.

And it's always a necessity in the market. And we are mostly focusing on these three areas in the following years. To watch your show, leave us top-rated reviews, check out our website, and follow me on social media. I'm Vince Chen, your ambitious human host. Until next time, take care.