Korean CJ to Launch CJ ENM Studios with Emphasis on K-OTT Content – Deadline
Media giant CJ ENM is launching CJ ENM Studios, a new venture that will specialize in producing content for OTT platforms in Korea and around the world. Yong Soo Ha, former executive vice president of CJ ENM’s business development and investment team, has been named CEO.
CJ ENM Studios will join Korean entertainment group Studio Dragon’s existing production powerhouse and its recently acquired Endeavor content. It is designed to cover a wide range of different genres and plans to recruit star talent/creators and expand its presence through the acquisition of top-tier production companies.
CJ said today that the new team “will serve as another base camp for content production. The strategic decision to launch CJ ENM Studios comes at a time when global demand for K content is high, and the multi -studios will be one of the main global competitiveness of CJ ENM.
The three studios under CJ ENM are part of the company’s plan to strengthen its global content production and multi-studio structure. Studio Dragon is responsible for worldwide successes such as Crash landing on you hometown Cha Cha Cha and sweet home and plans to increase its production volume of scripted content. Endeavor Content, which CJ ENM recently acquired in a $785 million deal, will produce content and also use its global network to distribute CJ ENM content.
Ha joined CJ ENM in 2018, overseeing business strategy and mergers and acquisitions. Prior to serving as Head of Management Support Division (CFO) at CJ ENM, he was also responsible for CJ Group’s corporate strategy, first joining the company in 2009.