Paramount Plus to launch in an Asian market for the first time in 2022

“Korean entertainment has become a cultural juggernaut with unprecedented demand”

American mass media giant ViacomCBS and South Korea’s CJ ENM have announced a deal that will see the launch of Paramount Plus in the East Asian country.

On December 8, the two entities shared that they have inked a global content deal to co-produce original television shows and films, as well as distribution across their respective streaming services.

According to Variety, the two companies will also be launching Paramount Plus in South Korea next year in an exclusive bundle with CJ ENM’s TVING streaming service under the new agreement, marking the streaming platform’s first-ever launch in an Asian market.

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Additionally, Paramount Television Studios and CJ ENM will be co-developing and producing English-language content based on existing CJ ENM titles for Paramount Plus. ViacomCBS and CJ ENM have also shared plans to co-finance new Korean-language content for global distribution via the platform.

“Korean entertainment has become a cultural juggernaut with unprecedented demand, and CJ ENM is behind some of the biggest international hits that transcend borders, including Academy Award-winning film Parasite,” said Dan Cohen, the president of ViacomCBS’ global distribution group.

CJ ENM chief executive King Ho-sung added: “CJ ENM’s vast library of original IP will create synergy with ViacomCBS’ production capabilities and distribution channels to develop into global smash-hit content.”

In other news, Disney+ has hit 1million weekly users in South Korea just weeks after its launch in the country. Following its launch on November 12, the service quickly climbed the ranks of popular streaming platforms in the country, becoming the fifth most-used streaming platform in South Korea.

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