Industry

CJ ENM and ViacomCBS closed a new strategic partnership

CJ ENM and ViacomCBS closed a new strategic partnership
The new strategic partnership that will bring premium entertainment to audiences worldwide with a comprehensive global deal that includes co-productions for original series and films, content licensing and distribution across ViacomCBS' and CJ ENM's leading streaming services.

Paramount+ will also debut in South Korea in 2022 as an exclusive bundle with TVING, CJ ENM's streaming service, marking its first entry to the Asian market.

"Korean entertainment has become a cultural juggernaut with unprecedented demand, and CJ ENM is behind some of the biggest international hits that transcend borders, including Academy Award-winning film Parasite," said Dan Cohen, President, Global Distribution Group, ViacomCBS. "We are excited to partner with CJ ENM to deliver world-class content that will captivate our collective audiences, expand our intercontinental footprint and accelerate the growth of our streaming services with this powerful collaboration."

-Paramount Television Studios and CJ ENM/Studio Dragon will co-develop and co-produce English-language scripted series based on CJ ENM/Studio Dragon's titles for exhibition on Paramount+.

- ViacomCBS and CJ ENM will co-develop and co-finance movies for theatrical and streaming releases with the plan to distribute one theatrical movie a year in various territories.

- ViacomCBS and TVING will co-finance new Korean series for global distribution on Paramount+.

- Paramount+ will license Korean-language series from CJ ENM's deep library of IP.

- Pluto TV, the No. 1 free ad-supported streaming television service (FAST) in America, will launch a dedicated CJ ENM branded channel on December 14 featuring K-content for U.S. audiences.

 


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