Korea’s CJ ENM has formed a joint venture with Japan’s TBS and streaming platform U-Next Holdings to collaborate on production and distribution of content based on Japanese and Korean IP.
Called StudioMonowa, the new venture will bring together CJ ENM’s strengths in K-drama and global production with TBS’ expertise in discovering original IP and driving IP-related businesses and channel releases. U-Next will serve as the primary platform for the joint venture, handling supply and distribution of original titles.
The joint venture deal was signed at the CJ ENM Center in Seoul by CJ ENM CEO Yoon Sang-hyun, Abe Ryujiro, President & CEO of TBS, and Tsutsumi Tenshin, CEO of U-Next.
According to a statement, StudioMonowa will integrate “top-tier planning, production, and platform capabilities from Korea and Japan to establish a content value chain encompassing everything from planning and development to production, distribution, and IP expansion”.
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