ViacomCBS and CJ ENM announced today a new strategic partnership that will bring Paramount+ as an exclusive bundle to South Korea in 2022, marking its first-ever appearance in the Asian market. It will be bundled with TVING, CJ ENM’s streaming service.
Also, on December 14, Pluto TV will launch a CJ ENM branded channel featuring K-content for U.S. viewers to enjoy.
Dan Cohen, President of the Global Distribution Group at ViacomCBS stated in a press release, “Korean entertainment has become a cultural juggernaut with unprecedented demand, and CJ ENM is behind some of the biggest international hits that transcend borders… We are excited to partner with CJ ENM to deliver world-class content that will captivate our collective audiences, expand our intercontinental footprint and accelerate the growth of our streaming services with this powerful collaboration.”
“We are focused on the rapid expansion of Paramount+ in markets around the world,” added Raffaele Annecchino, President and CEO of ViacomCBS Networks International. “Our strategic partnership with TVING enables us to accelerate Paramount+ subscriber growth while bringing more premium content to audiences in this important market.”
CJ ENM is a Korean entertainment company that is engaged in media content, music, film, performing arts, and animation. CJ ENM has created, produced, and distributed globally acclaimed content such as “Parasite,” “Kinky Boots,” “Roaring Currents,” “Extreme Job,” “Ode to My Father,” and more. The company also presents the world’s largest K-culture convention & festival celebrating Asia’s biggest music awards.
“CJ ENM is growing into a global leading entertainment company in accordance with Chairman Lee Jay-Hyun’s vision of expanding CJ’s presence on a global level,” said Kang Ho-Sung, CEO of CJ ENM. “CJ ENM’s vast library of original IP will create synergy with ViacomCBS’ production capabilities and distribution channels to develop into global smash-hit content.”
ViacomCBS and CJ ENM have a lot of plans for the upcoming year, and with their combined global reach and production capabilities, they have the ability to accomplish a lot releasing brand new and innovative entertainment for the masses.
For instance, Paramount+ will be getting English-language scripted series based on titles from CJ ENM-owned Studio Dragon, as well as new Korean series licensed from CJ ENM’s library. Also, the partners will collaborate on movies for theatrical and streaming releases with the plan to distribute one theatrical movie a year in several territories.
This strategic move for Paramount+ will keep them on this trajectory of recent success. In a recent Morning Consult report, the platform was declared the top streaming service in 2021. Plus, consumers voted them as the number one fastest-growing brand among all adults and the number one fastest-growing brand for Gen Z and Millennials.
With arguably their most successful original title of this year, “Clifford The Big Red Dog,” which broke Paramount+’s most-watched record as well as other original hits like “Yellowstone” and “Mayor of Kingstown,” it’s no wonder that they added one million accounts since the rebrand. Paramount+ will only continue to lean more into their content plans after the service launches in Korea.
Piggy-backing off of Disney+ and their November South Korea launch, the ever-growing Asian market will bring a whole new and diverse audience to these platforms.
Paramount Plus
Paramount+ is a subscription video streaming service that includes on-demand access to 40,000+ TV show episodes from BET, CBS, Comedy Central, MTV, Nickelodeon, Nick Jr. and more. The lineup includes “1883,” “Tulsa King,” “Star Trek: Discovery,” Nickelodeon’s “SpongeBob SquarePants,” and “PAW Patrol.” Subscribers can watch the NFL, college football, The Masters, college basketball, UEFA Champions League, UEFA Europa, Serie A, and NWSL. The service also offers the option to watch your live CBS affiliate. The upgraded ad-free package includes premium movies and shows from Showtime.