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Korea’s CJ ENM to Spend $4.4 Billion on Content as It Seeks Global Role

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variety.com
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Patrick Frater Asia Bureau ChiefCJ ENM, the Korean corporation behind Oscar-winning film “Parasite,” and the “Snowpiercer” TV series, is to expand its investment in entertainment content to a massive $4.4 billion over the next five years.The company is already one of Asia’s largest entertainment companies, but it is now seeking to achieve global significance.“We will move on to the world stage and compete with global platforms and media powerhouses,” said CJ ENM CEO Kang Ho-sung at a press event in Seoul on Monday.The expansion capitalizes on seemingly insatiable demand for Korean music, TV and film content.

K-pop bands are crossing over onto the world stage, and international video streaming platforms are competing to secure TV shows that.

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