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Endemol Shine Group and leading Korean content and media company CJ E&M have entered a major international partnership under which they will jointly create, produce and distribute original formats and series for the global market.
The pact consolidates Endemol’s expansion in an area with room for growth where it is already a major content provider.
Under the deal they will jointly create, produce and distribute original formats and the series for the Korean and international marketplaces.
Endemol Shine Group will bring its global resources in development, production and distribution to the partnership, while CJ E&M, which is based in South Korea, will share its regional capabilities in content creation and production, they said in a statement. All revenues from IP created under the deal will be shared equally.
The partnership will be jointly executed by DJ Lee, President of Media Contents Business at CJ E&M, and Fotini Paraskakis, Managing Director of Asian Operations at Endemol Shine Group.
The two companies are already both investing on the co-development and production of an unspecified original non-scripted series, which CJ E&M has committed to broadcasting in primetime on one of its flagship channels. Endemol Shine Group will be taking this series to the international market as part of its format portfolio. Details are being kept under wraps.
“The commitment by both our companies at the highest level and the fact that we are already able to confirm a primetime series for international distribution sets this deal apart,” enthused Endemic Shine Group CEO Sophie Turner Laing (pictured) in the statement. “By partnering with CJ E&M we are positioned to deliver a new pipeline of content originated in Korea with appeal to the international marketplace,” she added.
“Uniting CJ E&M’s creative capabilities in content development and production with Endemol Shine Group’s global expertise in formats and distribution is an ideal match,” chimed CJ E&M CEO Sungsu Kim.
CJ E&M already produces and locally broadcasts Endemol Shine Group’s international megahit “Masterchef,” which is currently in its fourth season. Endemol Shine Group also recently licensed CJ E&M’s “I Can See Your Voice” for distribution and adaptation outside of Asia where the format has already sold to Indonesia, Vietnam, Thailand and China.
Endemol is already a content powerhouse in Asia with over 50 series airing in 10 markets across the region in 2015. Hit shows include “Your Face Sounds Familiar” which they claim doubles time slot ratings in Thailand, Vietnam and the Philippines; “Big Brother,” which is now in its 10th season in the Philippines and still the top show on Filipino commercial broadcaster ABS-CBN; and “Masterchef,” which in addition to Korea is a hit in Vietnam, Thailand, Cambodia, Myanmar and Indonesia. In China their hits include “The Brain,” now in its third season on Jiangsu Satellite TV. Also in China, “Masterchef” is due to return later this year along with “Big Brother” on online platform Youku Tudou.
Prior to this partnership with Endemol, CJ E&M’s other recent international deals include licensing the hit show “Better Late than Never” to NBC in the United States and signing a creative option agreement with ITV Studios for “The Genius Game.”
Another successful CJ E&M’s format in Asia is “Let’s Go Time Travelers,” which has been a hit in Thailand, Indonesia, and China. They are also co-developing original content with Chinese broadcasters with successes including reality/talent show “Yi Qi Chu fa,” which ranked among the top 10 programs in the market.
CJ E&M’s drama productions include international titles such as “Ice Adonis”, which has been distributed to over 40 countries as well as being locally adapted in Ukraine; and hit drama “Queen & I”, which was remade in China.
