CJ E&M, South Korea’s entertainment and media major, is to invest some $39.5 million (KRW 450 billion) to produce original TV content.
The move puts the group in line with many of the multinational broadcast groups with operations in the Asia region. They have not only adopted a localization strategy, but are increasingly spending on original content that will be unique to their channels, and so drive up viewer loyalty.
CJ E&M is launching “Tomorrow, With You,” “Here Comes Trouble 3,” “Chicago Typewriter” and “The Dynamic Duo” for its general entertainment channel tvN. Starting from Singapore, tvN Movies, tvN’s global channel for Korean blockbuster films, will be launched in Hong Kong and Southeast Asian territories including Indonesia, Malaysia, and the Philippines this year.
The company’s music channel Mnet is launching new seasons of hit audition shows “I Can See Your Voice” and “Show Me the Money.” M2, Mnet’s digital spinoff, will also present new music content.
Being lined up for CJ E&M’s movie channel OCN are originals “Voice,” “Tunnel” and “Dual.” And DIA TV, Asia’s first MCN-run television channel, will increase the number of partnership with content creators from 1,100 to 2,000.
“With our strategic focus on the target audience, we will continue to be a pioneer in the media industry, expanding into Southeast Asia, North America and Europe,” CJ E&M said in a statement.
CJ E&M’s programming distribution unit reported a year-on-year revenue increase of 148% in 2016, driven by the sales success of hit series “Goblin” and “Legend of the Blue Sea.”