CJ E&M has staged K-Con concerts to show off Hallyu, or Korean entertainment content, since March in such cities as New York, Los Angeles, Mexico City and Tokyo. Some 230,000 people have taken in the shows, the country’s leading integrated entertainment company said recently.
The figure is up about 33 percent from 172,500 people that viewed the K-Con concerts last year in such cities as New York, LA, Tokyo, Dubai and Paris.
The company said a total of 16 K-Con concerts have been staged so far since 2012 when the initial K-Con concert was kicked off. CJ E&M said some 84 percent of the viewers were aged between 18 and 34, known as the millennial generation, that were born between 1980 and 2000 in the age of digitalization.
Officials of the entertainment company gushed over the fact that a core part of the Hallyu fans were made up of young people, showing the possibility that Hallyu entertainment can be a multi-generational opportunity on for a long time.
Some 20,000 fans watched the K-Con concert held at Kudos Bank Arena in Sydney, Australia, this year with such famous Hallyu entertainment groups Exxo, Winner One, Girls Day and others. Nine bands took the stage. There were many sideline events, such as at a Korean restaurant, a boutique demonstration for Korean cosmetics, a K-pop dance competition, a Korean food cooking demonstration, and Korean language classes, and others.
Unlike years past, K-Con concerts were staged in non-Asian countries like Mexico, Australia and others. An official of CJ E&M said they would like to expand the Hallyu events around the world so to make it a major international entertainment event.
CJ E&M Corporation operates as a content and marketing company primarily in South Korea. The company operates 16 TV channels comprising entertainment, music, film, lifestyle, cartoon, etc. through cable, IPTV, and digital media platforms; invests in, produces, and distributes films, and music, as well as provides movies and animations to the local audiences; organizes music concerts; and produces and licenses theatrical works. It is also involved in investing, producing, distributing, and licensing animation content. The company was formerly known as O Media Holdings Co., Ltd. and changed its name to CJ E&M Corporation in December 2010. CJ E&M Corporation was founded in 2010 and is based in Seoul.
The CJ E&M Center is a multi-purpose cultural venue that is owned by the media and entertainment powerhouse CJ E&M. The center serves as a broadcasting venue and for CJ E&M's channels. CJ E&M creates music, smart media, TV shows and movies. An in-house tour program is available with advanced reservations, and visitors can tour the grounds and see the center's studios, editing rooms, and recording rooms. There is also a restaurant and cafe at the CJ E&M Center.
CJ E&M Corporation announced consolidated earnings results for the third quarter ended September 30, 2017. For the quarter, the company reported sales revenue of KRW 440.1 billion compared to 378.8 billion won a year ago. Opex was 427.4 billion won compared to 375.7 billion won a year ago.
Operating profit was 12.7 billion won compared to 3.1 billion won a year ago. Pretax profit was 23.9 billion won compared to 9.4 billion won a year ago. Net profit was 11.7 billion won compared to 2.4 billion won a year ago. Ongoing operating income was 11.7 billion won compared to 2.4 billion won a year ago.
CJ E&M, South Korea’s entertainment and media major, is to invest some $39.5 million (450 billion won) to produce original TV content. The move puts the group in line with many of the multinational broadcast groups with operations in the Asia region. They have not only adopted a localization strategy, but are increasingly spending on original content that will be unique to their channels, and so drive up viewer loyalty.