CJ ENM to Maximize Cross-Platform Synergy and Keep Annual Investment for Content at 1 Trillion Won, the Highest Level in Korea
Leading entertainment company CJ ENM revealed today its blueprint to spearhead the K-content ecosystem by maintaining its content investment scale at the highest level in Korea and extending its content IP competitiveness to cross-platform synergy.
At the CJ Movie Forum held on site of the 29th Busan International Film Festival (BIFF), CJ ENM shared its aspiration to lead the K-content industry. Through retaining its annual investment for content at 1 trillion Won, the highest in Korea, and utilizing its insight accumulated through global studios, theaters, and OTT platforms, CJ ENM will dedicate its resources to bolstering film industry figures. Yoon Sang-hyun, CEO of CJ ENM remarked, “Despite the growing uncertainty in the film industry, we will continue to support creators and enable their imaginations to come to life and shine bright.”
Executives from CJ’s entertainment division subsidiaries CJ CGV, Studio Dragon, and TVING also joined the forum, proposing ideas for the development of the K-content ecosystem amidst the rapidly transforming environment. The four companies presented business strategies they currently envision: building a progressive production system by securing talented and aspiring creators, strengthening competitiveness by creating synergy between linear and digital platforms and solidifying a proactive distribution system, and establishing a sustainable global business structure.
Notable attempts and objectives are being made by the four content powerhouses. Lee Dong-hyun, Chief of Business Innovation Office of CJ CGV shared how the company has expanded its content spectrum to include music-based features, animations, and sports. As revealed by CEO Jang Kyung-ik, Studio Dragon aims to increase projects that involve rising creators and actors, providing opportunities to refresh the K-drama industry. CJ ENM is considering expanding the application of AI technology across production and distribution, as told by Seo Jang-ho, SVP of Content Business.
The CJ executives agreed that theaters, OTT, and broadcasting channels are coexisting platforms that should cooperate to maximize IP lifecycle. <Dongjae, the Good or the Bastard> was introduced as the case where CJ utilized its entire capacity to source a hit IP across a linear channel, OTT, and theater simultaneously. A spinoff of the widely acclaimed crime thriller <Stranger>, <Dongjae, the Good or the Bastard> is produced by Studio Dragon, released and broadcasted by TVING and tvN, and is invited to BIFF for premiere screening.
Methods to stretch the lifecycle of IPs are being explored by TVING. Choi Ju-hui, CEO of the platform revealed that approaches like multi-channel release and simultaneous production of various formats including film, series, spin-offs, and short forms all coming from a single source of IP are under consideration. TVING also pursues collaborations that bring digital and physical spaces together, intertwining characteristics of both OTT and theaters.
The subsidiaries also revealed a clear vision for global expansion. With around 20 global projects currently in development, Studio Dragon is keen to produce series formats for US and Japanese local markets. TVING is refining its global launch strategy, focusing on regions where K-content is making a remarkable impact, such as the US, Southeast Asia, and Japan. CJ ENM sees potential in new markets like India and the Middle East where Korean content has yet to reach stark popularity or profit.
The forum also brought together Jerry Kyoungboum Ko, Head of Film Business of CJ ENM, and next-generation Korean film directors Jason Yu, Han Jun-hee, and Jeon Go-woon to discuss what makes K-content resonate with global audiences and how it can achieve a global leap.
Key factors behind the popularity of Korean stories were narrowed to K-content’s proficiency in exploring hybrid genres and maintaining an ideal balance between accessibility and cultural uniqueness. Presenting plots and cinematography that are both fresh and flavorful, K-content does not avert from genres that may feel unfamiliar to audiences. Its cinematic language feels accessible to Hollywood filmmakers, yet still maintains its cultural background. CJ ENM is continuously in search of films with these characteristics and hopes to initiate the global expansion of such stories.
CJ ENM also excitedly shared some big titles from its content lineup for 2025. Audiences will be able to meet director Park Chan-wook’s new film <No Other Choice> (working title), a series adaptation of the film <Fabricated City>, <Way Back Love> scheduled to launch on TVING in the first half of next year, and <Bugonia> the highly anticipated Hollywood remake of <Save the Green Planet!>.