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Korea’s CJ ENM Outlines 30-Year Vision, Commits to Increasing Production Spend, Despite Industry Disruption: ‘We Continue to Believe in K-Content’
Korea's CJ ENM Outlines 30-Year Vision, Commits to Massive Content Spend, Despite Industry Disruption
Executives from CJ ENM, Korea’s largest media and entertainment conglomerate, Friday committed to investing upwards of KRW1 billion ($750 million) per year in content. “By retaining our investment in content at KRW1 billion, and using our insight accumulated through global studios, theaters and OTT platforms , CJ ENM will dedicate itself to improving the film industry figures.” Yoon identified the challenges as including ongoing weakness of theatrical box office in Korea (and elsewhere), changes within the streaming sector, an audience shift towards consumption of short form video and potential disruption from artificial intelligence.
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