NEW YORK and SEOUL, Korea – ViacomCBS (NASDAQ: VIACA, VIAC) and CJ ENM today announced a new strategic partnership that will bring premium entertainment to audiences worldwide with a comprehensive global deal that includes co-productions for original series and films, content licensing and distribution across ViacomCBS' and CJ ENM's leading streaming services.
Paramount+ will also debut in South Korea in 2022 as an exclusive bundle with TVING, CJ ENM's streaming service, marking its first entry to the Asian market.
ViacomCBS and CJ ENM will leverage their combined global reach, production capabilities, world-renowned IP and hit-making pedigree to deliver key synergy opportunities across both companies:
- Paramount Television Studios and CJ ENM/Studio Dragon will co-develop and co-produce English-language scripted series based on CJ ENM/Studio Dragon's titles for exhibition on Paramount+.
- ViacomCBS and CJ ENM will co-develop and co-finance movies for theatrical and streaming releases with the plan to distribute one theatrical movie a year in various territories.
- ViacomCBS and TVING will co-finance new Korean series for global distribution on Paramount+.
- Paramount+ will license Korean-language series from CJ ENM's deep library of IP.
- Pluto TV, the No. 1 free ad-supported streaming television service (FAST) in America, will launch a dedicated CJ ENM branded channel on December 14 featuring K-content for U.S. audiences.