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Home»Entertainment»CJ ENM CEO Talks Content material Spend, ‘Severance’ & Netflix
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CJ ENM CEO Talks Content material Spend, ‘Severance’ & Netflix

stuffex00@gmail.comBy stuffex00@gmail.comMarch 17, 2025No Comments13 Mins Read
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CJ ENM CEO Talks Content material Spend, ‘Severance’ & Netflix
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Korean leisure powerhouse CJ ENM is readying a bumper slate of 65 tasks this yr after boosting its content material finances by 10% regardless of what its head honcho phrases a “subdued” native market.

Giving Deadline a commerce unique, CEO Yoon Sang-hyun labeled 2025 the “first official yr of world enlargement” and revealed that content material spend will shoot up this yr to $818M — up from the $750M that was introduced on the sidelines of the Busan movie fest final yr.

In a wide-ranging dialogue, Yoon offered perception into this mega content material warchest, CJ’s world partnerships with the likes of Warner Bros Discovery (WBD) and Fifth Season, making ready for a potential re-entry into the Chinese language market in addition to worldwide enlargement plans for OTT platform TVING. He additionally shared extra particulars about TVING’s merger with home platform Wavve together with contemporary methods to push music content material platform MNET Plus and CJ ENM’s e-commerce arms.

Though CJ ENM, which is celebrating its thirtieth anniversary, has been energetic overseas for a number of years, Yoon stated that he’s treating 2025 as the primary official yr to fulfill his purpose to “speed up our presence within the world market in a way more centered and strategic means.”

The leisure conglomerate has been concerned in a few of Korea‘s greatest world hits together with Parasite, Resolution to Depart, Taegukgi and The Admiral: Roaring Currents. CJ ENM additionally produces collection by its Studio Dragon and CJ ENM Studios arms.

On the identical time, Yoon — who turned CEO of CJ ENM final yr after serving as boss of CJ ENM’s Commerce Division for 2 years — stays cautious over the gloomy outlook within the Korean leisure business.

“The Korean movie market continues to be dealing with many challenges, and consequently, many distributors and traders have been scaling again their investments,” Yoon says. “The general market has develop into very subdued. Regardless of the dire state of affairs right here within the movie market, CJ ENM stays dedicated to rising its movie enterprise.”

A key a part of this film biz development got here with a restructuring earlier in March with the set up of business veteran Jung Hyun-joo as head of CJ ENM’s movie enterprise, whereas former head Jerry Kyoungboum Ko shifted to a brand new function as head of the corporate’s world movie tasks.

“We’ve made ongoing efforts towards world enlargement prior to now, however up till now, a whole lot of that has been centered on exporting Korean movies and dramas abroad,” says Yoon. “What we’re aiming for now’s one thing extra structural, so this implies co-development and co-produced content material with world studios, whereas additionally increasing our platforms internationally. That means, we will construct a sustainable ecosystem the place Korean content material just isn’t solely produced persistently, but in addition distributed globally. That’s why we’re calling this the primary official yr of world enlargement.”

He additionally factors to a big rise in Korean manufacturing prices as “one other massive issue” in CJ ENM’s world ambitions. “With a view to transcend simply masking prices and really safe margins and reinvest, we realized that we have to construct this structurally world enterprise mannequin, and that urgency has actually pushed us to take a step,” provides Yoon.

Inside CJ ENM’s $818M Funds

Zach Cherry as Dylan G in Season 2 of 'Severance'

‘Severance’

Courtesy of Apple TV+

When requested to interrupt down final yr’s content material spend, Yoon stated that roughly half was allotted to Korean drama manufacturing, whereas the rest was spent on selection reveals, adopted by music after which movie. This yr the outfit is readying 65 tasks together with 35 collection.

For this yr, his first precedence is a given — to make good content material — and his second is to strengthen CJ ENM’s digital platforms, which incorporates TVING, music content material platform MNET Plus and cell reside commerce platform (which runs below the model, CJ OnStyle).

On the content material entrance, CJ ENM is laser centered on high-profile co-productions similar to Yorgos Lanthimos’ Bugonia, the remake of South Korean sci-fi comedy Save the Inexperienced Planet, which can be CJ IP. The Greek director has as soon as once more solid his muses Emma Stone and Jesse Plemons. Focus Options will launch Bugonia within the U.S. and Common Footage is distributing the title internationally (excluding South Korea).

Warner Brothers and CJ ENM additionally inked a manufacturing pact for Korean- and English-language movie remakes in November final yr. Warner Bros. Movement Footage will act as lead studio on English-language titles from CJ ENM’s library, and CJ ENM will probably be lead studio on a Korean-language tasks from the Warner Bros. Footage library.

It’s nonetheless early days for this collaboration, Yoon says, and there aren’t any titles able to be introduced below the deal. Nevertheless, he shares that Warner Bros. and CJ ENM are at present within the means of exchanging a listing of round 20 IP-driven tasks on this preliminary stage, with the purpose of finally producing movie remakes.

“Warner Brothers has an in depth catalog of main IPs, so we’re additionally figuring out titles that may be localized for the Korean market,” says Yoon. “We’re not restricted to any style, and we’re wanting on the total catalog.”

Yoon emphasizes that the Warner Brothers partnership is only one world deal of many who CJ ENM has unveiled within the final yr.

“We’re actively working with a number of main Hollywood studios, not simply Warner Bros, but in addition Paramount, Skydance and others. With Warner Bros, we made a extra formal settlement to prioritize remakes collectively, with our vice-chairwoman, Miky Lee, additionally taking part in a key function in making that collaboration occur,” says Yoon. Paramount+, nonetheless, was taken off TVING final yr and the pair haven’t renewed their partnership.

In January 2022, CJ turned heads by shopping for an 80% majority stake in Fifth Season (previously Endeavor Content material), earlier than promoting 25% of its possession stake to Japanese studio Toho in December 2023. The journey has been removed from easy crusing, with restructuring and layoffs throughout Fifth Season in March final yr. Yoon attributes these challenges to post-Covid-19 knock-on results in addition to the Hollywood strikes.

“To be sincere, we expect that among the results should still carry into this yr,” says Yoon. “A number of the improvement tasks we had within the pipeline might have moved ahead however because of the disruptions, together with the strikes, [this] naturally led to some dangers, however we’re nonetheless optimistic.”

He flags the runaway success of Severance Season 2 on Apple TV+ as a turning level within the Fifth Season journey.

“Our purpose right here is to proceed producing these varieties of world venture successes in a sustainable and a scalable means,” says Yoon. “Constructing on that momentum, we’re seeing extra alternatives to pitch and promote these upcoming titles to a variety of platforms, so we’re hopeful that this yr will mark an actual turning level, each by way of content material output after which monetary restoration.”

CJ ENM has different strings to its bow. The reside commerce platform is ” not solely rising in Korea, but in addition increasing globally, with the purpose to showcase and promote Ok-beauty and Ok-fashion to worldwide audiences,” says Yoon. MNET Plus, which has been out there in additional than 227 international locations since launching in 2022, is being re-positioned for a digital future.

“We’re reworking it right into a content-driven and fan-based platform tailor-made for the digital atmosphere, and we’re starting to scale that up this yr,” he says, noting that MNET Plus has seen a 26% improve in subscribers and plus-70% development in month-to-month energetic customers.

“The world is getting extra difficult and complicated, and with channels, there was a fast shift from linear to digital. The platform panorama has develop into more and more fragmented. However even on this atmosphere, we imagine that creating well-made content material stays probably the most important precedence in our business.”

Yoon’s cross-market method to leisure comes with the expertise of spending practically three a long time in numerous roles with the Korean conglom. After becoming a member of CJ in 1999, he labored within the finance workforce and held positions in portfolio technique in addition to in mergers and acquisitions, earlier than changing into the Head of Enterprise Technique. He then moved to CJ Logistics, the place he served because the Head of Administration Help, earlier than shifting to CJ ENM in 2022.

Chinese language and Japanese relations

Drawing on his assorted expertise, Yoon has pushed CJ to make inroads in China and Japan not too long ago, forging a three-year partnership with Japanese broadcaster TBS final yr, specializing in co-production. Underneath the pact, CJ and TBS decide to producing at the very least three tv collection and two movies collectively inside the subsequent three years. The co-produced collection will air on TBS tv channels, with one already scheduled for a primetime slot this yr.

Turning to China, Yoon says that he has not heard any optimistic information across the lifting of its restriction on Korean movies however is making ready nonetheless.

“Though it’s not formally acknowledged, it’s true that the Chinese language market has been difficult for Korean content material because of the so-called import restrictions,” says Yoon. “If the market does open up once more, we imagine that it might current a powerful alternative for CJ ENM.”

Nevertheless, this has not prevented Yoon’s workforce from laying the groundwork in China in case the restrictions are lifted in future.

“We’ve been working quietly to construct up relationships with key stakeholders in China in order that when the time comes, our Korean content material will probably be well-positioned to re-enter the market,” he provides.

CJ ENM can be centered on increasing its musical attain into China and the Center East. Referring to CJ ENM’s “music artistic ecosystem” or “MCS” — the corporate’s acronym for its particular administration, manufacturing and branding for music, Yoon says: “Within the music house, we’re aiming to scale our MCS program globally. We’ve already constructed sturdy experience and success in Japan, and now we’re seeking to prolong that greatest follow into higher China and Center East.”

Netflix: a “win win relationship”

CJ ENM has a continuously-evolving collaborative and aggressive relationship with Netflix within the South Korean market. On one hand, CJ ENM works with Netflix by way of StudioDragon and CJ ENM Studios to co-produce and distribute reveals. On the opposite, CJ ENM’s streaming platform TVING competes fiercely with Netflix domestically for subscribers, consideration and development.

Yoon says the connection could be “win win.” “Going ahead, we expect it’s essential to have a wholesome aggressive dynamic between world and native OTTs, every with their very own strengths and focus,” he provides.

CJ ENM and Netflix have co-produced the likes of Gyeongseong Creature, Doona!, Kingdom: Ashin of the North and Candy House. Yoon says Netflix has been “massively essential” for Korean content material however sounds a be aware of warning. “On the identical time, though there are different components too, platforms like Netflix have even have contributed to rising manufacturing prices in drama and movie, which have been an actual problem on the manufacturing aspect. It’s one of many unwanted effects of that world publicity.”

Yoon says that the choice on whether or not a CJ present goes to Netflix, TVING or one other platform is made strategically on a “case-by-case” foundation.

Stay sports activities

KBO League baseball. Chung Sung-Jun/Getty

Merger talks between TVING and home platform Wavve have been ongoing over the past two years, however Yoon says that he’s nonetheless unable to decide to a selected timeline.

“There are such a lot of stakeholders concerned, together with their shareholders, content material suppliers, and authorities our bodies that deal with the regulatory approvals,” he says. “It’s a course of that requires ongoing dialogue and consensus-building, so we don’t but have a transparent timeline for completion, however the integration efforts are nonetheless shifting ahead.”

For TVING, Yoon says that his principal purpose this yr is to increase the OTT platform past Korea into worldwide markets, constructing into his plan for world enlargement.

One other key technique for TVING is a concerted push into reside sports activities, which Yoon says has performed a serious function in each subscriber retention and attracting new subs, mirroring the massive American streamers.

Securing the reside streaming rights to the KBO League marked a serious coup for TVING and the broader OTT panorama, as sports activities broadcasting in South Korea had lengthy been seen by a linear prism.

Home competitor Coupang Play is now the only broadcaster of a number of common abroad soccer leagues, together with Germany’s Bundesliga for the 2024-25 season in addition to the home Ok-League.

Yoon says that it isn’t nearly buying reside sports activities rights, but in addition bringing a brand new viewing expertise for audiences that transcend linear. A serious a part of his workforce’s job has revolved round convincing native sports activities stakeholders that an OTT platform is the way forward for sports activities broadcasting.

“It was so unfamiliar to the Korean Baseball Group and the workforce homeowners at first,” says Yoon, who cites the likes of additional short-form sports activities content material and integrating real-time knowledge, which finally received over the skeptics.

Outdoors of baseball, CJ ENM has secured complete rights to Korea’s basketball league as properly, from the 2024-2025 season by to the 2027-2028 season. This four-year contract contains broadcasting rights, video enterprise rights, and abroad broadcasting rights. Yoon says that TVING will develop into a part of its broadcasting technique within the close to future.

“It’s not nearly buying the broadcasting rights,” he says. “Our purpose is to tailor and improve the viewing expertise for every sport, so we might provide differentiated companies that transcend conventional protection.”

To rejoice the corporate’s thirtieth anniversary this yr, CJ ENM unveiled a “Visionary Choice” that includes 30 milestone titles from the content material library. This choice contains movies Excessive Job, Joint Safety Space, Parasite, Snowpiercer and Veteran, in addition to reveals like Guardian: The Lonely and Nice God, My Mister, The Reply collection (Reply 1997, 1994, 1988) and Sign.

“For the previous 30 years, CJ ENM has labored by many challenges to assist develop and globalize Korean content material,” says Yoon. “Wanting forward, we hope to proceed taking part in a key function in guaranteeing that Korean content material stays a sustainable and influential drive on the worldwide stage for the subsequent 30 years.”



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