ViacomCBS said it made a deal with CJ ENM of South Korean that will lead to Paramount Plus being launched next year in its first Asian market as part of an exclusive bundle with CJ ENM’s streaming service TVing.
The partnership includes co-productions for original series and films, content licensing and distribution across the streaming services run by both ViacomCBS and CJ ENM.
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“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."
Details of the deal include ViacomCBS’s Paramount Television Studios and CJ ENM’s Studio Dragon co-developing and co-producing English language scripted series based on Studio Dragon title for exhibition on Paramount Plus, the companies co-developing and co-financing movies for theatrical and streaming release, the company co-financing a new Korean series for Paramount Plus and Paramount Plus licensing Korean-language series for global distribution on Paramount Plus.
ViacomCBS’s Pluto TV will also be launching a CJ ENM branded channel featuring Korean content for U.S. audiences.
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"CJ ENM is growing into a global leading entertainment company in accordance with Chairman Lee Jay-Hyun's vision of expanding CJ's presence on a global level," said Kang Ho-Sung, CEO, CJ ENM. "CJ ENM's vast library of original IP will create synergy with ViacomCBS' production capabilities and distribution channels to develop into global smash-hit content." ■
