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CJ ENM Maintains Content Spend At $750M, Execs Outline New Revenue Streams And Overseas Growth
Korea's CJ ENM executives announced that they will retain their annual content spend at $750M, despite the industry's economic headwinds.
Top executives at Korea ‘s CJ ENM announced that they will retain their annual content spend at 1 trillion won ($750M), while acknowledging that new business models are necessary to combat the industry’s economic headwinds. While the media conglomerate’s executives emphasized that they were all taking a cautious approach in their respective businesses, many highlighted they have already tried and tested innovative ways to reach wider audiences and increase profits. Using the example of Dongjae, the Good or the Bastard, which was a spinoff of popular crime thriller Stranger, they shared how CJ used its different businesses across linear channel, OTT, and theater simultaneously to maximize the IP’s reach and revenue.
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