President Kang says CJ ENM plans to invest 5 trillion won in content production over the next five years
CJ ENM President Kang Ho-sung unveils his company¡¯s future plan during the ¡°Vision Stream¡± session with reporters on May 31.
CJ ENM is aiming to be a global ¡°total entertainment¡± company by investing 5 trillion won in content production over the next five years.
CJ ENM President Kang Ho-sung revealed a plan to that end during the ¡°Vision Stream¡± session with reporters on May 31.
CJ ENM announced plans to establish world-class intellectual property (IP) production systems and infrastructure and invest in content. CJ ENM will pour 800 billion won in content production this year.
President Kang said, ¡°Content investments are on the rise every year so far, and given the growth rate of investments that have been so far made, the investment money will stand at 5 trillion won over five years.
¡°The figure is never implausible, CJ ENM will rise given the investments the company has made so far,¡± President Kang said.
CJ ENM plans to complete its own full production ecosystem by continuing to create franchise IPs and trans-media content including dramas, films, webtoons and performances.
To this end, CJ ENM Studio Dragon opened Studio Dragon, a studio that produces drama content across diverse traditional and new media platforms, in 2016.
Furthermore, the company plans to build a multi-studio structure to specialize in areas such as entertainment, film, digital and animation.
CJ ENM is spearheading the globalization of hallyu (Korean Wave) by showcasing proprietary content such as broadcasting, films and music that people across the globe can sympathize with and enjoy.
It achieved those production capabilities over the past 26 years. CJ ENM has begun to produce world-class content by forging strategic partnerships with foreign prominent content companies.
CJ ENM and its subsidiary, Studio Dragon, have been implementing joint projects with Skydance Media, a Hollywood production company, under a strategic partnership.
Skydance is a diversified media company founded by David Ellison in 2010 to create high quality, event-level entertainment for global audiences.
Studio Dragon, Skydance Media and Apple TV Plus singed a deal to jointly produce the U.S, drama series ¡°The Big Door Prize.¡± CJ ENM has teamed up with Endemol Shine to plan and develop a K-pop audition program targeting South America.
Endemol Shine Boomdog is the Spanish-language division of Endemol Shine North America, developing and producing original content for the U.S. Hispanic and Mexican TV markets.
The project involves an audition program, to be planned and developed by CJ ENM¡¯s Mnet production team, in which South American candidates will appear.
In particular, WarnerMedia¡¯s OTT HBO Max¡¯s participation in the project is expected to help.
HBO Max is an American subscription video on demand streaming service owned by WarnerMedia, a U.S. integrated media company. CJ ENM¡¯s well-made contents have been remade into hits in many countries.
¡°Grandpas over Flowers,¡± a drama by the tvN, an entertainment channel owned by CJ ENM, was the first one sold to the United States under Korea¡¯s entertainment format.
The U.S. version ¡°Better Later Than Never¡± was broadcast as a hit on a primetime on the NBC TV network.
Mnet¡¯s popular music program ¡°I Can Hear Your Voice,¡± which entered Season 8 this year, has been remade into local versions or is to be adapted in 18 countries.
CJ ENM is implementing a project to remake Korea¡¯s first Academic Award winner ¡°Parasite¡° into a TV drama with HBO of the United States.
The Mnet¡¯s popular music program ¡°I Can Hear Your Voice, has been exported to the United Kingdom, becoming a hit product by attracting 5 million viewers. (Photos: CJ ENM)