The prominent Korean entertainment company, CJ ENM, known for producing the Academy Award-winning film “Parasite,” is strengthening its efforts to broaden its global presence. This comes as they strive to adapt in a complex media environment where production costs have been escalating and traditional television broadcasts encounter market difficulties.
As a devoted fan, I can’t help but express my admiration for our exceptional content creators, particularly writers, directors, and producers. Over the years, we’ve built an incredibly robust system that continues to thrive. The investment in production has been steadily increasing, unfortunately, this growth has put a strain on traditional linear TV. Just like many other nations, the Korean linear TV landscape isn’t exactly shining at the moment.
With Korean content experiencing unprecedented international acclaim, CJ ENM is committed to preserving quality and expanding its horizons beyond just drama series. According to Seo, the goal remains to create high-quality content that resonates not only with domestic Korean viewers, but also with regional and worldwide audiences. This ambition isn’t limited to dramas; instead, CJ ENM is striving to leave a significant mark in various sectors such as entertainment shows, music programs, and films.
The business is adopting a two-pronged strategy for distribution. On one hand, they are teaming up with international platforms such as Netflix, while on the other, they are concurrently boosting their in-house streaming service, Tving, which currently ranks second to Netflix in the South Korean streaming market. A potential merger with South Korean streamer Wavve is under discussion.
In response to questions about filling content voids caused by 2023’s Hollywood strikes, Seo stated that CJ ENM has managed to maintain its production output despite facing industry challenges. He emphasized, “We continue to create high-quality content to bridge this gap.” This affirmation underscores the company’s consistent investment in original content across multiple platforms such as linear TV stations and Tving.
The incorporation of Fifth Season into CJ ENM’s business operations has paved the way for broader international growth. Essentially, Fifth Season is a top-tier content provider in the U.S., which serves as the main hub for entertainment, according to Seo. This acquisition has fostered collaborative prospects, such as creating CJ ENM intellectual property suitable for U.S. production. Seo emphasized that this union with Toho of Japan, through Fifth Season, has broadened our horizons, using “Godzilla Minus One” as a case in point of successful cooperation. He stated, “We can jointly develop something new for worldwide content.
CJ ENM grapples with the task of harmonizing creative ingenuity with global viewers’ preferences. As Seo noted, “The taste for local Korean content and the desire from our foreign audience differ slightly.” The international public generally prefers Korean romantic comedies or romances over genres like action, but in Korea, romantic comedies, particularly those aimed at young women, are not generating impressive ratings.
The business uses internal review teams, known as greenlight committees, to determine if content will appeal to both local and global audiences. Seo mentioned “Study Group,” an action-series that surpassed expectations internationally despite initial doubts from partners who anticipated typical Korean romantic stories, as a recent instance of success.
Regarding collaborative film productions across borders, Seo showed a positive outlook even in light of previous hurdles. “Collaboration, particularly international collaboration, has been attempted quite frequently, not only recently but also a decade ago,” he stated, acknowledging the struggles of producing content that appeals to multiple markets. “Typically, when you aim for two distinct cultures and create something in between, it doesn’t usually succeed.
Nevertheless, he feels that the preferences of audiences are increasingly universal, opening up fresh possibilities. For instance, he mentions “Mugen Loop,” a new collaborative production for a game show between our company and Japan’s TBS, inspired by an original, unscripted format created by CJ ENM.
As a movie enthusiast, I firmly believe that technological progress, particularly AI and virtual production, plays a crucial role in managing escalating production costs. Frankly speaking, it’s challenging to imagine moving forward without the aid of advanced technology like AI. In fact, at CJ ENM, we’re already leveraging AI for content distribution and are keen on expanding its use throughout our entire production process.
Regarding the global expansion of Korean content, Seo highlighted the need for genre versatility while ensuring high quality standards. “We aim for a wider range of choices,” he stated. Although romantic comedies have been successful exports, CJ ENM is venturing into action thrillers, horror, and other genres to enrich its offerings. The company has already achieved international recognition beyond Asia, with Televisa in Mexico broadcasting Korean shows like “True Beauty” on their linear channels, and Imagen TV in Mexico setting aside specific blocks for Korean drama programming.
Seo stated that we aim to replicate the same level of achievement in various other fields, making Korean content seem universally recognized worldwide.
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2025-03-19 02:50