Japan’s TBS Holdings is entering into a joint venture with local streaming giant U-NEXT and Korea’s CJ ENM to develop IP that can be scaled around the world.
As part of its VISION2030 strategy, Japan’s TBS has prioritized collaboration opportunities as it looks to maximize the value of its content worldwide. The JV will develop IPs in Japan and Korea with global resonance. It will leverage CJ ENM’s global expertise, U-NEXT’s streaming position, and TBS’s content capabilities. “Combining the strengths of the three companies will maximize the IP value originated from Japan to accelerate the revolution to deliver wonderful ‘moments’ to consumers around the world,” TBS said in a statement.
The as-yet-untitled JV will be based in Tokyo and led by Gi-Young Choi as president and CEO. It is set to be formalized in April with a capital investment of 1.25 million yen. CJ ENM will hold 51%, TBS 40%, and U-NEXT 9%.
