CJ ENM and Netflix Collaborating on More Than 21 Contents For 3 Years-NSP NEWS

CJ ENM and Netflix, Collaborating on More Than 21 Contents For 3 Years

NSP NEWS, By soon ki Lee Journali

Published December 2, 2019 a 6:30 pm Published December 2, 2019 a 6:30 pm END7, Read 0

#CJ ENM #Netflix #strategicpartnership #Collaboration

(Seoul=NSP News Agency) soon ki Lee Journalist = Netflix, CJ ENM and its subsidiary Studio Dragon have signed a strategic partnership for content creation and global distribution over the next few years.

Through this strategic partnership, Studio Dragon will produce Netflix's Korean original series which Netflix members worldwide will be able to enjoy for three years from 2020.

In addition, Netflix will have the right to present to the world some of the Korean contents which Studio Dragon produces and CJ ENM holds distribution rights for. In particular, CJENM has also signed the agreement for the right of sale in which Netflix acquires its common stocks of Studio Dragon which it holds.

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This gives CJENM the right to sell up to 4.99% of its Studio Dragon shares to Netflix within a given period of time.

The contract between the two companies covers more than 21 original contents productions and license distribution over three years. CJENM plans to strengthen its premium contents production capabilities and enhance the competitiveness of the whole media contents by expanding opportunities for Korean creators to enter the global market.