CJ ENM (035760) is emerging as a key player reshaping the global content industry, drawing on more than 30 years of K-content production capability and intellectual property holdings. The company, which has expanded from exporting individual titles to selling IP and formats, is evolving into a business model that leads planning, development and production in overseas markets, strengthening its market position, according to industry analysis.
CJ ENM plans to keep discovering global hits through a multi-studio system linking Korea, the United States and Japan, and to groom them into large-scale IP capable of generating long-term revenue, industry sources said on the 22nd. The strategy aims to expand its influence in overseas markets and cement its standing as a company with K-content heritage. Studio Dragon, spun off from the drama business division and marking its 10th year since establishment this year, is seen as having provided the foundation for the company's broader push as a global production house. "Study Group," produced by Studio Dragon unit GT:ist, ranked sixth on Netflix's global series viewership chart, while CJ ENM Studios' "Girigo" took first place in the global non-English show category.
The acquisition of Hollywood studio FIFTH SEASON stands out as a turning point in CJ ENM's global expansion. Through the 2022 purchase, valued at about 930 billion won ($650 million), the company secured Hollywood creative talent, production infrastructure and a global distribution network. It also allowed CJ ENM to build a multi-studio system by connecting FIFTH SEASON with Studio Dragon and CJ ENM Studios. Results are following. The drama "East of Eden" and the film "Animals," both produced by FIFTH SEASON, recently topped Netflix's global TV series and film charts, respectively. Earlier, "His & Hers" ranked first in Netflix global series viewership in the first half of this year.
The global push is moving beyond selling content abroad toward planning and producing titles with local partners. The TVING original variety show "Transit Love" was released in a Japanese version, "Love Transit," across three seasons, and a Brazilian remake has been confirmed. "What's Wrong With Secretary Kim" and "God's Quiz" are also broadening the use of their IP through overseas remakes. The strategy reinterprets proven source IP for local markets and converts it into new content and business opportunities.
In Japan, the company is widening its contact with the local market through co-productions. "Merry Berry Love," a romantic comedy co-produced with NTV, reached No. 2 on the global TV show chart after its release on Disney+ on the 7th and entered the top 10 in 73 countries and territories. The collaboration is seen as a case in which Korean production capability combined with a Japanese local base to deliver global results. The company is also moving faster to build local production ecosystems rather than work title by title. CJ ENM is pursuing the establishment of StudioMonowa, a joint venture with Japan's TBS and U-NEXT Holdings, envisioning a business model spanning IP discovery, planning and development, production, distribution and spinoff businesses. It is also pursuing joint investment and production of K-dramas with Warner Bros. Discovery, with global distribution through HBO Max expected to take shape soon. The strategy of securing local partners and production bases to link content development with distribution and IP commercialization is now on track.
A CJ ENM official said the company is expanding its business to a stage where it plans and produces content directly in local markets together with global partners, adding that it will raise the competitiveness of its global multi-studio system and grow into a global IP powerhouse.