[Digital Daily Correspondent Kwon Ha-young] KT and CJ ENM joined hands to expand the content business. CJ ENM will make a 100 billion won equity investment in KT Studio Genie, KTs content subsidiary.
The two companies announced on the morning of the 21st that they had signed a strategic partnership for content business cooperation at KT Gwanghwamun Building East in Jongno-gu, Seoul. The signing ceremony was attended by key executives from both companies, including KT Groups transformation division head, Yoon Kyung-rim, and CJ ENMs CEO, Kang Ho-seong.
Through this partnership, CJ ENM has become a strategic investor to strengthen the competitiveness of content between the two companies, such as ▲ equity investment of 100 billion won in KT Studio Genie ▲ purchasing contents and channel organization produced by KT Studio Genie ▲ co-production of contents with KT Studio Genie. Participate.
A CJ ENM official explained, “The purpose of the Studio Genie investment is to enhance the content competitiveness of CJ ENM captive channels such as tvN and OCN and OTT TV.”
With this investment, CJ ENM has the right to preferentially secure a significant amount of content produced by Studio Genie. Through this, Studio Genie will secure the CJ ENM channel and OTT TV distribution network. The two companies jointly plan and produce content such as dramas. also promote
In addition, it is also planning to ▲cooperate in music business ▲create a joint fund for immersive media business ▲form a business cooperation committee for joint projects in the media and content fields.