[Edaily Starin YUN GI BACK Reporter] “By combining Korea’s planning and production capabilities with the outstanding creators and intellectual property (IP) from the U.S. and Japan, there are endless opportunities to create top-tier content that will resonate in global markets.”

Cho Seong-woo, Head of the IP & Platform Global Business Unit at CJ ENM, made these remarks in an interview with E-Daily on the 18th regarding the “Multi-Studio Strategy,” which is yielding global results this year.

CJ ENM’s “Multi-Studio Strategy”—which establishes planning and production bases across Korea and the U.S. while expanding touchpoints that connect creators and audiences in each market—has been paying off this year. A prime example is its U.S. subsidiary, Fifth Season. The drama “East of Eden” and the film “Beasts,” recently released by the company, ranked No. 1 in Netflix’s global TV series and film categories, respectively. “His Story & Her Story” recorded the highest number of views among all Netflix series in the first half of this year (104 million views). Season 2 of Apple TV’s “Severance” was recognized for its artistic merit, winning eight Emmy Awards last year.

Cho, the head of the business unit, emphasized, “Fifth Season is winning over global audiences based on its distinctive storytelling, production capabilities, and content planning tailored for the global market,” adding, “Moving forward, under our vision of becoming a ‘global IP powerhouse,’ we will continue to present premium content that resonates across borders and platforms.”

He cited “selection and focus” as the key to Fifth Season’s success. “Following the acquisition of Fifth Season, we reorganized the business and concentrated our efforts on dramas and films,” he explained, adding, “We prioritized the production of premium content over quantitative growth.” The strategy involves identifying projects that demonstrate competitiveness in at least two of five key criteria: box office potential, buzz, profitability, scalability, and symbolic significance. The path to success was not without challenges. The company faced difficulties due to a deteriorating production environment, including the COVID-19 pandemic and the Hollywood strike. He noted, “We spent a significant amount of time building trust with local management in Hollywood and facilitating exchanges of IP and creators.”

CJ ENM plans to strengthen its global content competitiveness by expanding collaborations with global creative teams based on its multi-studio system and continuously introducing premium content across various genres. Currently, CJ ENM and Fifth Season are developing more than 10 joint projects, including films and dramas that incorporate Korean elements. Recently, the company has continued to expand its production footprint, such as by establishing the joint venture “Studio Mono-wa” with Japan’s TBS and U-NEXT Holdings.

The ultimate goal is to secure “mega IPs” that generate sustained revenue beyond one-off hits. This strategy involves considering global audiences and long-term scalability from the planning stage onward. BU Head Cho stated, “We want to continue presenting content that leads global cultural trends by connecting outstanding IPs with creators.”