CJ E&M, South Korea's leading entertainment and media content company, said Thursday it will invest 450 billion won (US$39.5 million) in new television shows this year.
The company, which owns tvN, Mnet and other entertainment giants on cable television, said it has announced such an investment roadmap at a conference with its clients on Feb. 16.
TvN has emerged as one of the smartest content creators in South Korea, producing numerous runaway hits such as "Reply 1988" and "Guardian" with viewership unseen for a cable channel.
The network will try to reproduce its rating success this year through new dramas and comedy shows and bolster its overseas reach through tvN Movies, its channel dedicated to delivering Korean films overseas.
Music channel Mnet will continue the production of music audition shows and OCN, which usually airs movies, will also pursue original drama series. DIA TV, which delivers content from YouTube celebrities, will increase its current 1,100 partnerships to 2,000.
"We will pursue a data-driven campaign and integrated marketing that combines broadcast and digital content, and expand our global marketing in Southeast Asia, North America and Europe," said Lee Song-hak, head of CJ E&M's media solution division. (Yonhap)