CJ ENM Gains Momentum in US Expansion... Partnership with ViacomCBS
Producing Global Premium Content Based on IP... Utilizing North American Distribution Channels
Supplying Content to Pluto TV... Launching Paramount+ Brand Section on TVING
CJ ENM announced on the 8th that it has signed a comprehensive partnership with the US-based ViacomCBS. ViacomCBS is a comprehensive media group that owns CBS, Showtime, Paramount Pictures, Nickelodeon, MTV, BET, Paramount+, Pluto TV, and more. This partnership can significantly support CJ ENM's global establishment.
The two companies will collaborate across all stages, from joint content production and investment to distribution. CJ ENM will produce global premium content based on intellectual property (IP) and actively utilize distribution channels within North America. They will cooperate with Paramount+ for dramas and Paramount Pictures for films, respectively.
On the 14th, CJ ENM will also launch its own brand channel, 'K-Content by CJ ENM,' on Pluto TV. They plan to provide their content to increase brand awareness. Pluto TV is an online video service (OTT) available in twenty-six countries. As of the third quarter, it has an average monthly user base of 54 million. A CJ ENM representative added, "We will also provide drama content to another OTT, Paramount+."
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CJ ENM will also strengthen its foundation through this collaboration. ViacomCBS will invest in shares and seven original content titles on the OTT platform TVING. In the first half of next year, a Paramount+ brand channel will be launched on TVING to offer popular content such as 'Star Trek: Discovery' and 'Paw Patrol.' CJ ENM previously announced a major content expansion by acquiring the US content production company Endeavor Content. Currently, they are planning the US version of the drama 'Hotel Del Luna' together with Skydance and producing 'The Big Door Prize' for Apple TV+. They are also participating in the production of the TV adaptation of 'Parasite,' which will be aired on HBO, a leading US broadcaster.
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