Studio Dragon, a subsidiary of Korea’s CJ ENM and its production, partners with Naver Webtoon’s subsidiary Line Digital Frontier, possibly in a Japan-based joint venture called Studio Dragon Japan. The new production studio will be set up in the first half of this year with an investment of 30 billion won (US$23 million) from the three organizations.
Studio Dragon Japan’s stated goal is to become the market-leading producer based on CJ ENM and Studio Dragon experience by providing premium content with premium IP from Line Digital Frontier. The new company covers all phases of content production, from development and investment to production and distribution.
Studio Dragon is the largest screen TV studio in Asia with over 183 global premium IPs and produces around 30 series distributed across different platforms each year. The studio is known for popular series like It accidentally lands on you, Hotel Del Luna Y My sweet home. Line Digital Frontier is a subsidiary of Naver Webtoon and is the leading webcom platform in the Japanese digital market, providing the online Webcommon Manga service.
CJ ENM, Studio Dragon and Line Digital Frontier will work to create a synergy to deliver premium content as soon as possible.
The company is part of Korean media giant CJ ENM’s strategy to expand its multi-studio structure internationally. Studio Dragon Japan celebrates the company’s fourth production studio with Studio Dragon, Endeavor Content and the recently announced CJ ENM Studios. In addition to Studio Dragon Japan, CJ ENM now has production studios in Korea, the United States, and Japan.
Kang Cheolgu, CEO of Japanese Drama Business at CJ ENM, said, “Based on the global network and the presence of CJ ENM and Studio Dragon, Studio Dragon Japan will be a bridge and act as a gateway between the top content creators in Korea and Japan. This is the best IP to enter the Global market. Studio Dragon Japan produces premium content for global channels, including streaming platforms.
Kim Sinbae, director of Line Manga, said, “By establishing this joint venture, we will protect the IP value chain in Japan, which can bring web tones to video content. We will contribute to the perfection of webtoon IP with quality dramas targeting the global market and strengthen our leading position in the entertainment industry.”
CJ ENM and Naver became partners earlier in October 2020 and have been working ever since. My sweet home Y humus cells Based on the IP of the latter.
Source: Deadline
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