Vision for Three Decades and Dedication to Expansion of K-Content by CJ ENM
South Korea's media juggernaut, CJ ENM, dropped a bombshell at the Busan International Film Festival by revealing a 30-year master plan, shelling out a whopping KRW1 trillion ($750 million) annually to amplify K-content's global footprint. This ambitious strategy leans heavily on CJ ENM's industry might.
Here's a lowdown on CJ ENM's master game plan, straight from the horse's mouth:
Going Global, K-style
CJ ENM is raring to go global, and it's pulling out all the stops for this one. Key elements of this strategic offensive include:
Investing Heavily in Content
CJ ENM's content purse is about to burgeon even more—a staggering KRW150 billion ($106 million) will be poured into content investments in 2025, on top of last year's KRW1 trillion ($706 million) budget[2][3]. This financial heft underscores the company's commitment to churning out global-friendly content.
Partnering Up for Smoother Sailing
CJ ENM isn't shy about striking alliances. It's reaching out to studios in the US, Japan, and Southeast Asia to boost its worldwide reach[2]. The success of collaborations has already been evident with exports of popular shows like "It’s Okay to Not Be Okay," "Happiness," and "Mouse" to countries such as the Philippines and Thailand[1].
Steaming Ahead with Streaming Partners
CJ ENM has inked a multi-year content distribution deal with Prime Video, which covers both new and library titles (barring Korea and China)[5]. This partnership aims to serve up a smorgasbord of premium K-content to a global audience.
Expanding Tving's Territory
As the main shareholder of Tving, CJ ENM is backing the streaming service's international expansion, with a target of 15 million global subscribers by 2027[2]. The recent merger approval between Tving and Wavve is expected to fortify CJ ENM's position in the streaming market[4].
Overall, CJ ENM's global expansion strategy hinges on strategic partnerships, hefty content investments, and smart mergers to emerge as a dominating IP force. Don't call it a comeback; they've been here for years!
CJ ENM intends to invest heavily in content, with a planned expenditure of KRW150 billion ($106 million) in 2025, further increasing their financial commitment towards creating global-friendly content. This South Korean media powerhouse is also focused on forming strategic partnerships with studios in the US, Japan, and Southeast Asia to amplify its worldwide reach in the realm of investing and business.
