Korean entertainment conglomerate CJ ENM has entered into a strategic partnership with Japanese company Toei Animation.
The deal is seen both as a content production alliance that spans motion picture television series and animation, and as a distribution pact that allows companies to access each other’s markets.
Both companies have extensive libraries of existing content. The agreement provides for production companies under the umbrella of CJ ENM to develop Toei Animation‘s intellectual property in feature films, and for Toei Animation to develop CJ ENM’s intellectual property in animation.
The two companies also aim to create content for a global audience and have set up a joint task force to achieve this.
“Toei Animation’s intellectual property has great potential for transmedia or cross-media storytelling, as it has strong global fandom and appeals to a wide range of age groups. We are also excited to see how the original content of CJ ENM, which spans over 5,000 different IPs, can open new doors of creative possibilities for Toei Animation, ”said Yi Jongmin, senior vice president of the center. of CJ ENM’s content R&D.
“Through this strategic partnership, we plan to develop new transmedia content in Korea and Japan. “
“Combined with Toei Animation’s know-how from extensive experience and achievements in producing global animation hits, we are confident that the two companies will be able to synergize to create globally successful content” , said Washio Takashi, general manager and executive producer of the production department at Toei Animation.
The alliance comes at a time when global eyes have turned to Asia thanks to the international success of the Korean-produced Netflix-produced “Squid Game” series and as global and regional streaming platforms compete for security. local content in the Asia region.
CJ ENM also pledged to spend huge sums of money to become a global production hub and expand its Tving streaming service to Korea’s leading SVOD platform. It also entered into another alliance with a Japanese partner – Tokyo Broadcasting System – in June.
In its various units, CJ EMN has been behind films including the Oscar-winning films “Parasite”, “Snowpiercer” and “Miss Granny”; the hit television series “Crash Landing on You”, “Goblin: The Lonely and Great God” and “Hospital Playlist”; and the Tony Award-winning Broadway production “Kinky Boots”.
Toei Animation, which claims 13,100 episodes, including 255 feature films and 288 television series, has produced “Dragon Ball Z”, “One Piece”, “Mazinger Z” and “Sailor Moon” among others. He is now the producer of the big-budget live-action film “Knights of the Zodiac: Saint Seiya”, adapted from the longtime manga and anime “Saint Seiya”.