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CJ ENM

CJ ENM Co., Ltd. is a major South Korean and , founded in 1995 as part of the , that specializes in creating, producing, and distributing content across television broadcasting, , , digital platforms, , , and commerce. Headquartered in , the company operates key networks such as tvN, , and OCN, alongside the streaming service , and is renowned for its global influence in K-content, including hit dramas, , and international partnerships. With a mission to discover and produce "untold originals" that explore universal emotions, CJ ENM has grown into a powerhouse generating approximately $3.8 billion in revenue in 2024, driven by diverse segments like advertising sales and content licensing. The company's origins trace back to 1995, when CJ Group invested in DreamWorks SKG and launched Mnet, South Korea's first music channel, alongside Tooniverse for animation. In 2011, it underwent a significant merger of entities including On Media, CJ Internet, Mnet Media, CJ Media, and CJ Entertainment to form CJ E&M, which merged with CJ O Shopping to form CJ ENM in 2018, expanding into entertainment and merchandising. Key milestones include the 2019 purchase of production house Bon Factory, the 2020 establishment of TVING as a , and the 2022 acquisition of Endeavor Content (rebranded as Fifth Season). By 2025, marking its 30th anniversary, CJ ENM has expanded globally with initiatives like the launch of CJ ENM Middle East LLC in and strategic partnerships with platforms such as , , , and regional players in and the . CJ ENM's business is structured around several core divisions, including platforms for and streaming, and drama production through subsidiaries like and CJ ENM Studios, music via and labels such as and BELIFT LAB, and commerce encompassing online and home shopping services. The division, its flagship, drives content innovation with addictive reality shows, award-winning s, and K-pop events like MAMA and KCON, while the performing arts arm co-produces world-class musicals for stages in , the West End, and Asia. Under CEO since 2022, the company continues to invest heavily in cross-platform synergy, committing approximately 1 trillion won annually to content production—the highest level in —as of 2024, with plans to increase spending further in 2025.

History

Pre-merger developments

CJ Group's entry into the sector began in 1995 with the establishment of On-Media as a operator, marking the start of its focus on content production and broadcasting. That year, On-Media launched , a pioneering music-focused cable channel, and , an animation channel, which laid the groundwork for CJ's expansion in premium content creation. Concurrently, CJ invested in film production by becoming the second-largest shareholder in DreamWorks SKG and initiating domestic film investments, signaling early ambitions in the industry. In 2000, CJ restructured its media operations by establishing CJ Media, which expanded the group's footprint into music, , and broader content sectors. This move integrated existing cable assets and supported the growth of music programming through , while also venturing into and , exemplified by the success of films like (JSA), which garnered major awards including Best Picture at the . By the mid-2000s, CJ Media had solidified its role in content aggregation and early digital initiatives, setting the stage for further diversification. Parallel to these developments, CJ's arm evolved through , which originated from the group's theater business team within CheilJedang in the mid-1990s. In 1996, CJ entered the industry via a forming CJ , leading to the opening of South Korea's first multiplex theater, CGV Gangbyeon, in 1998. This innovation shifted the market toward multi-screen exhibition models and premium experiences, with the launch of CGV Gold Class in 2000 introducing luxury seating options. By the 2000s, had grown into a dominant multiplex operator, emphasizing integrated entertainment complexes. Key milestones in the pre-merger era included the launch of tvN in 2006 as a comprehensive channel under CJ's broadcasting umbrella, targeting trend-leading content for younger audiences. In 2009, CJ acquired On-Media, bolstering its cable portfolio, followed by the 2011 rebranding to CJ E&M consolidated On-Media, CJ Internet, Mnet Media, CJ Media, and into a unified entity, while expanding internationally with the rollout of tvN channels across starting in 2009. These steps strengthened CJ's position in music assets through integrated operations.

2018 merger and restructuring

In January 2018, CJ Group announced the merger of its subsidiaries CJ E&M, a major entertainment and media company, and CJ O Shopping, a leading home shopping and e-commerce firm, to form CJ ENM as a unified entity focused on content-commerce convergence. The merger was motivated by the need to generate synergies between CJ E&M's strengths in content production and distribution and CJ O Shopping's customer base and sales channels, enabling the creation of premium content-driven commerce models amid rising competition from global streaming services. This integration aimed to position CJ ENM as a global player by leveraging group-wide assets, including exhibition capabilities through affiliate CJ CGV, to enhance overall content value chains from production to consumer engagement. The merger process advanced with shareholder approval on May 29, 2018, at a ratio of 1:0.41 (CJ O Shopping shares to CJ E&M shares), valuing the combined entity at approximately 5 trillion KRW in assets. It received necessary legal and regulatory clearances, including from the , and was completed on July 1, 2018, officially launching CJ ENM. Key restructuring efforts consolidated CJ E&M's entertainment, music, and film units under the new structure, streamlining operations across , , and while incorporating CJ O Shopping's and . Leadership transitioned with Heo Min-ho appointed as CEO of CJ ENM in July 2018 to oversee the integrated operations. Immediate impacts included the company's listing on the exchange on July 17, 2018, with an initial of about 6 trillion KRW, and the integration of over 2,000 employees from the merging entities to form a unified focused on cross-functional . These changes laid the foundation for enhanced operational efficiency and competitive positioning in the evolving media landscape.

Expansion and recent milestones (2019–2025)

In 2019, CJ ENM signed a with to establish a for an integrated over-the-top () streaming service, leading to the launch of in February 2020 as a platform combining content from both companies to compete in Korea's growing market. This initiative marked a key step in CJ ENM's post-merger strategy to consolidate and expand its distribution channels amid rising demand for on-demand viewing. During 2020 and 2021, CJ ENM pursued expansions in global content production and amid the , adapting operations through virtual events and international collaborations. The company invested in the BELIFT LAB joint venture with HYBE (formerly Big Hit Entertainment), debuting the boy group in November 2020 to capitalize on the global surge, with the group's album "Border: Day One" achieving over 330,000 first-week sales despite pandemic disruptions. Additionally, through its partnership with , CJ ENM supported high-profile series like the 2021 drama "Snowdrop," which aired on and gained international attention on Disney+, highlighting adaptations such as enhanced digital promotion to navigate production challenges from lockdowns. In , CJ ENM focused on financial recovery and strategic preparations, including alliances for recapitalization; the company reported consolidated sales of 4.79 trillion KRW for the year, reflecting resilience post-pandemic with growth in exports. By 2023, revenue reached 4.37 trillion KRW, driven by strong performances in and segments, though impacted by global industry disruptions. Preparations for IPOs, such as those involving stakeholders, underscored efforts to attract for further scaling. From 2024 to 2025, CJ ENM achieved significant milestones, including deepened integration with subsidiaries like through leadership appointments, such as naming Jang Kyung-ik as CEO in July 2024 to bolster drama production. The company launched -driven initiatives, premiering the fully -generated animation series "Cat Biggie" in June 2025 and announcing plans for dramas by year-end, leveraging proprietary tools like Cinematic for efficient . Partnerships for international distribution expanded, notably a multi-year deal with in October 2025 to co-produce K-dramas and launch a hub on Max, enhancing global reach alongside ongoing collaborations with platforms like . Q3 2025 earnings showed consolidated sales of 1.25 trillion KRW, contributing to annual growth. In 2025, CJ ENM announced metaverse-related advancements building on its 2022 investment in Hyperreal for digital human technology, integrating virtual experiences into content projects. In September 2025, CJ ENM was invited to to showcase its content advancements, including "Cat Biggie," as part of its 30th anniversary celebrations. Challenges, including the 2023 writers' and actors' strikes affecting its Endeavor Content subsidiary (leading to workforce adjustments), were overcome with strike resolutions, resulting in improved industry contracts for talent and a return to profitability in 2024.

Corporate overview

Mission and core values

CJ ENM's official is to connect people through the power of stories, leveraging , , and commitment. This emerged following the 2018 merger of CJ E&M and CJ O Shopping into CJ ENM, which shifted the focus from a traditional and media emphasis to an integrated model encompassing the full end-to-end , including content production, , and . The underscored a strategic evolution toward a comprehensive global ecosystem, blending creative storytelling with commercial synergy to deliver cultural impact worldwide. At the core of CJ ENM's operations are three foundational values: , , and . Empathy drives the company to transcend boundaries by expanding perspectives and fostering connections across diverse audiences and genres. emphasizes innovation in , encouraging bold, limit-breaking approaches to that introduce fresh narratives and technologies. reflects a dedication to exceeding expectations through responsible practices and a of , ensuring sustainable growth and positive global influence. These values are supported by guiding principles such as initiative and autonomy. CJ ENM integrates these values into practical commitments, including in content production to reflect varied lifestyles and , as outlined in its framework. Sustainability in operations is exemplified by the 2022 launch of the Eco Content Production (ECP) Initiative, which establishes standards to minimize environmental impact during filmmaking and broadcasting, such as reducing plastic use and promoting energy-efficient practices. The company's dedication to K-content further embodies its mission, with ongoing efforts to expand dramas, music, and events internationally, as seen in partnerships like the 2025 collaboration with for co-producing and distributing content across platforms. Leadership, under CEO , reinforces these principles by prioritizing ethical management and cultural innovation in steering the company's global trajectory.

Leadership and governance

CJ ENM's leadership is headed by CEO , appointed co-CEO in March 2022 and sole CEO since April 2024, previously serving as Head of Management Support at and in other financial roles within the . Key executives supporting the CEO include Deuk-su Hwang as , responsible for financial oversight and management support, and other senior leaders such as , executive of the Channel Business Division, who manages content operations, and Min Sun-hong as (CCO) of , focusing on streaming strategy. These executives align their decisions with CJ ENM's mission of global cultural enrichment through innovative content. The board of directors comprises six members as of 2025, including internal directors from and independent directors to ensure balanced oversight, with a composition that emphasizes expertise in , , , and . Notable board members include (Chair), Choi Joong-kyung, a with financial and administrative expertise; Han Sang-dae, specializing in and ; Min Young, a and expert; Lee Sun-young, contributing insights; and Hong Sang-pyo. The board held 13 meetings in 2024 with full attendance, reviewing 34 agendas related to strategic and matters. CJ ENM's governance framework adheres to the rules of the Korea Exchange (KRX) as a listed company on KOSDAQ, emphasizing transparency, ethical practices, and stakeholder value through sub-committees such as the Audit Committee, Remuneration Committee, Outside Director Nomination Committee, and ESG Committee. The ESG Committee, formed in 2021, is chaired by independent director Min Young and includes CEO Yoon Sang-hyun, CFO Hwang Deuk-su, and other experts; it convenes quarterly to deliberate on environmental management, human rights, ethics, data security, and strategies for enhancing corporate value, holding nine meetings in 2024 to address 16 agendas including GHG emissions and performance reviews. Notable governance evolutions include the 2023 CEO transition to bolster global focus, the 2024 appointment of external members to the Compliance Management Committee for independent decision-making, and the addition of Jung Jhong-hwan as President of Content, Global Business in early 2024 to drive international strategy.

Business operations

Content creation and production

CJ ENM's content creation relies heavily on its in-house studios, with serving as the flagship entity for K-drama development. As a of CJ ENM, specializes in scripting, production, and global distribution of premium dramas, handling everything from concept development to final edits. A prime example is the 2022 Netflix series , a 16-episode revenge thriller written and executive-produced by , produced through —a affiliate—and released in two parts from December 2022 to March 2023. The series garnered critical acclaim, winning the Best Drama Series award at the 2023 and highlighting 's expertise in crafting emotionally resonant narratives that resonate internationally. The company's production pipeline spans ideation, scripting, filming, and , fostering a high-volume output of original across , and formats. CJ ENM maintains an annual of 1 trillion KRW in —the largest in —enabling the production of dozens of series and films yearly through collaborative teams and advanced workflows. In 2024, this pipeline incorporated cutting-edge via generative in projects like the M Hotel, where tools generated visuals, audio, and voice elements to enhance efficiency and creative possibilities. Among its standout originals, tvN's (2019), a comedy-drama produced by , emerged as a global hit that propelled K-content exports. The 16-episode series, starring and , topped overseas sales rankings and significantly boosted CJ ENM's international distribution revenues. Its success underscored CJ ENM's ability to create cross-border appealing stories that drive cultural exports. Technological integration has become a cornerstone of CJ ENM's creative process since 2023, particularly with tools for scripting and development. In September 2023, the company announced plans to create open-source software tailored for content firms, including the AI Script agent system, which analyzes market trends and viewer data to generate ideas and refine scripts. This initiative, expanded in subsequent years, supports ideation by identifying high-potential concepts while preserving human creativity in final outputs.

Distribution and broadcasting

CJ ENM disseminates its content through a network of owned channels, proprietary streaming services, and global licensing agreements, enabling wide domestic and international reach. The company operates 16 channels in , including tvN for general entertainment programming, for music and content, and OCN for thrillers and films, all providing 24/7 broadcasting across diverse genres. These networks form a core part of CJ ENM's distribution strategy, with platforms like Mnet Plus achieving over 20 million monthly through exclusive programming and fan engagement features. In the streaming domain, CJ ENM launched the platform in as a with , offering premium on-demand video content tailored to audiences. By mid-2025, following its merger with rival service Wavve, had positioned itself with approximately 9.2 million subscribers, establishing it as a key domestic competitor to international streamers. has expanded through co-distribution partnerships, such as a 2025 multi-year deal with Disney+ Japan to provide exclusive access to up to 60 original titles. CJ ENM secures international distribution via licensing and co-production deals with major platforms. It maintains a long-term partnership with for global content production and licensing, dating back to 2019 and encompassing scripted series from subsidiaries like . In 2025, CJ ENM inked a strategic alliance with to co-produce K-dramas and distribute content via Max across 17 Asia-Pacific markets. These initiatives drove significant growth, with the film and drama sector recording 1.7047 trillion KRW in sales for 2024, largely from enhanced content distribution. To manage digital rights, CJ ENM implements targeted strategies for video-on-demand (VOD) and , including licensing agreements with U.S. OTT platforms like Peacock and for over 150 titles, alongside optimized clip distribution on channels to drive engagement while safeguarding through controlled access and revenue-sharing models.

Cinema and exhibition

CJ ENM's cinema and exhibition operations are spearheaded by its affiliate , a leading global multiplex chain under the umbrella. As of 2025, manages over 4,200 screens across 591 locations in seven countries, encompassing , , the , , , , and , positioning it as one of the top five cinema exhibitors worldwide by screen count. A hallmark of CJ CGV's exhibition strategy is its pioneering premium formats, developed through subsidiary CJ 4DPLEX. The 4DX system, launched in 2009, integrates motion-enabled seating with synchronized effects such as vibrations, wind, scents, and lighting to immerse audiences in the film's action, now available in over 790 theaters across 70 countries. Complementing this, ScreenX, introduced in 2012, extends projections onto the theater's side walls for a 270-degree panoramic experience, with more than 370 installations in 40 countries, enhancing visual storytelling for select releases. These innovations have driven premium ticket sales and differentiated CJ CGV in competitive markets. CJ ENM's film distribution efforts synergize closely with 's exhibition network, exemplified by the 2019 international rollout of Parasite, directed by Bong Joon-ho, which CJ ENM distributed globally and premiered extensively in theaters, contributing to its record-breaking and four , including Best Picture. Post-2020, amid pandemic recovery, adopted hybrid exhibition models, including expanded partnerships via revenue-sharing and joint ventures that installed 17 new laser-projection systems without heavy capital investment, bolstering accessibility and high-end viewing options. In 2024, these operations yielded 1.96 trillion KRW in revenue, underscoring robust post-pandemic rebound and innovation-driven growth. This between CJ ENM's content production and CJ CGV's exhibition facilitates seamless in-house premieres, where CJ ENM films receive priority screening slots to maximize attendance and buzz. It also enables tied initiatives, such as exclusive theater-linked products and experiential events, amplifying streams beyond tickets and reinforcing CJ ENM's end-to-end control over the cinematic ecosystem.

Organizational structure

Major divisions

CJ ENM's organizational structure is centered around four primary business sectors: Media Platforms, Film & Drama, , and , each focusing on distinct aspects of content creation and distribution while fostering synergies across the company. These sectors enable CJ ENM to produce and manage a wide array of media content, from television series to music and cinematic works, supporting the company's overall mission as a leading entertainment provider. The Media Platforms sector is responsible for broadcasting and streaming services, operating key networks such as tvN, which specializes in premium dramas and variety shows, and OCN, focused on movies and thrillers. This sector drives the creation of original content that has gained international acclaim, including hit K-dramas distributed globally via streaming platforms like . Key subsidiaries like provide specialized support in drama scripting and production, enhancing the sector's output efficiency. The Music sector manages music broadcasting, artist development, and label operations, with Mnet serving as its flagship channel for K-pop programming, concerts, and awards shows like MAMA. It oversees prominent labels including , which handles artist management, album production, and digital music distribution, contributing to the global expansion of K-pop acts. Stone Music operates as a music distribution brand under this sector. The Film & Drama sector handles movie and drama production and distribution, leveraging CJ ENM Studios for investments and releases, including high-profile titles like Parasite. It also encompasses , producing and distributing Korean musicals to blend cinematic storytelling with live theater experiences. The Commerce sector focuses on online and home shopping services, integrating content with opportunities. Strategic interlinks among the sectors promote cross-pollination, such as integrating music soundtracks into films or adapting dramas for stage productions, which amplify content reach and revenue streams. Platforms like Mnet Plus and serve as central hubs connecting these sectors' outputs with global audiences and commerce opportunities.

Key subsidiaries and affiliates

CJ ENM maintains a network of key subsidiaries and affiliates that bolster its position as a global entertainment leader, focusing on content production, music, and distribution. These entities align with the company's major sectors in entertainment and media, enabling specialized operations in K-dramas, music, and film. Studio Dragon, a majority-owned subsidiary with CJ ENM holding a 54.38% stake as of March 2025, specializes in scripted content production and has become a cornerstone of the K-drama industry. Founded in 2016 through the spin-off of CJ ENM's drama business, it has produced over 20% of South Korea's annual drama titles and numerous global hits, including "Crash Landing on You" (2019–2020) and "Queen of Tears" (2024), which dominated Netflix charts worldwide. Its contributions extend to international co-productions, such as adaptations in Japan, enhancing CJ ENM's scripted content pipeline. In the music sector, serves as a prominent under CJ ENM's music sector, functioning as a global that develops and promotes talent. Established in 2021 as part of CJ ENM's strategy to expand its music ecosystem, WAKEONE identifies emerging artists and supports their international breakthroughs through distribution and marketing. It aligns with CJ ENM's broader music operations, including , to foster K-pop's global reach. Studio LuluLala (SLL), formerly JTBC Studios, in which CJ ENM holds a controlling stake of 67.6% as of 2021, is a vital affiliate focused on , , and drama production. Acquired in phases to strengthen broadcasting synergies, it produces high-profile content for network and OTT platforms like , including award-winning series that complement CJ ENM's content . Fifth Season, acquired by CJ ENM in 2022 and rebranded from Endeavor Content, is a key international specializing in global and . It enhances CJ ENM's scripted pipeline with U.S. and international projects. CJ ENM Studios, established in 2020, focuses on , drama, and entertainment , supporting domestic and global . A recent addition to CJ ENM's affiliate structure is CJ ENM LLC, a wholly-owned established in July 2025 in , , to accelerate expansion in the through local production and partnerships. This move fills gaps in regional and live-action , building on prior collaborations with Saudi entities.

Global footprint

Headquarters and domestic facilities

CJ ENM's main headquarters is located at the CJ ENM Center in the Sangam Digital Media Complex, Mapo-gu, , serving as the primary operational base for its division since the company's formation through the 2018 merger. The facility integrates office spaces, broadcasting studios, and production areas within Seoul's , facilitating integrated content creation and management. The CJ ENM Studio Center, located in , Gyeonggi-do, functions as a key domestic production site equipped for multi-format filming and . The facility spans a total site area of approximately 213,000 square meters, including approximately 49,586 square meters of outdoor filming sets, and features 13 large studios across four zones, supporting indoor and outdoor shoots, along with specialized sets for genres like dramas and variety shows. In 2022, the center expanded with a Production Stage featuring a 360-degree LED Media Wall for advanced and immersive content, enhancing capabilities in and real-time rendering technologies. This eco-friendly facility emphasizes energy-efficient design, including solar panels and high-insulation materials, to support sustainable production practices. Beyond , CJ ENM operates the CJ ENM Ilsan Studio in , , providing additional sound stages and filming spaces for large-scale projects. Regional presence includes a division branch in to handle local distribution and sales, contributing to tailored content initiatives in southern . As of , the headquarters supports the company's core content operations.

International offices and partnerships

CJ ENM has expanded its international presence through strategic offices in key global markets to facilitate content distribution, co-productions, and regional operations. The company's office, established in 2007 as CJ ENM America, Inc., serves as a hub for collaborations, including partnerships that bridge and Asian cinema with U.S. audiences. Located at 300 S. Grand Ave., Suite 1100, , CA 90071, this office supports initiatives like the 2025 partnership with the to promote K-content and Asian films. In , CJ ENM maintains a significant footprint with offices in and , positioning the region as a central hub for Southeast Asian distribution and production. The office, opened in 2018, oversees channel distribution, brand partnerships, and content localization across the . CJ ENM Limited's Singapore branch, incorporated in 2018, further supports multilingual content creation and regional deals, such as collaborations in and . In 2025, CJ ENM established its first wholly owned subsidiary in , , marking entry into the market through local production and distribution efforts, following MOUs with the in 2022 and Manga Productions in 2023. CJ ENM's international partnerships emphasize co-productions and content licensing to enhance global accessibility of K-dramas, films, and music. A key collaboration is the 2021 strategic alliance with Japan's , which focuses on developing original IPs for both live-action and formats, drawing from Toei's library of classics to target worldwide audiences. In 2025, CJ ENM inked a multi-year deal with to co-produce original K-dramas for HBO Max, including exclusive premieres of content across 17 Asia-Pacific markets such as , , and . That same year, a content partnership with Japan brought up to 60 originals to the platform, strengthening CJ ENM's position in the market. Additional ventures include a 2025 with Japan's for integrated marketing and content promotion, as well as a distribution agreement with in for Korean films and series. Through its affiliate CGV Cinemas, CJ ENM extends its global reach via theater operations in multiple countries, supporting content exhibition and premium formats like and . As of 2024, CGV operates over 790 theaters across 70 countries and more than 370 locations in 40 countries, enhancing the international rollout of CJ ENM titles. This network, combined with streaming partnerships, has driven CJ ENM's content to dominate global charts, with K-dramas topping rankings in eight countries including , , and the in the first half of 2025.

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