Paramount+ to Enter Korean Market Next Month
Selected as a Base for the Asian Market
American online video service (OTT) Paramount+ will launch in South Korea next month. According to the film industry magazine The Hollywood Reporter on the 5th (local time), parent company Paramount Global (formerly ViacomCBS) has chosen South Korea as its base for the Asian market. CEO Bob Bakish stated, "We will expand Paramount+ globally, starting with South Korea and the United Kingdom." Paramount+ will also be launched in the UK next month. In the second half of the year, it will expand its reach to Italy, France, Germany, and other countries.
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The early entry into the Korean market is based on the comprehensive partnership signed with CJ ENM last December. The two companies collaborate across all stages, from joint content production and investment to distribution. Paramount Global also holds shares in Tving, an OTT operated by CJ ENM. Paramount+ possesses numerous popular American movies and drama contents, including the 'Star Trek' and 'SpongeBob' series, as well as 'The Twilight Zone,' 'Coyote,' 'Halo,' and 'Paw Patrol: The Movie.' It also provides content from the American music channel MTV and the children's channel Nickelodeon.
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