TBS and CJ ENM set up JV aimed at boosting value and reach of Japanese IP

Japan’s Tokyo Broadcasting System (TBS) Holdings has formed a joint venture with Korean entertainment giant CJ ENM and its streaming offering U-Next to create and develop audiovisual properties.

Toshi Honda

The new company will be based in Tokyo and will be majority-owned by CJ ENM, according to TBS.

It will leverage TBS’s drama production capabilities with CJ ENM’s development system and U-Next’s VoD platform to boost the global footprint and value of IP brands originating from Japan.

The launch of the JV reflects TBS’s push for global expansion, previously detailed in its future-facing Vision 2030 strategy.

TBS will hold a 40% stake in the venture, which builds on the Japanese company’s existing strategic partnership with CJ ENM on both scripted and unscripted coproductions.

The pact, signed in 2021, has seen the two outfits collaborate on formats such as Infinite Loop and the recently announced survival gameshow Synchro Game.

Announcing the JV on LinkedIn, Toshi Honda, board director and chief operating officer at U-Next, said: “Through this strategic partnership, we aim to expand globally by enhancing both the value and international reach of Japan-originated content.

“By combining CJ ENM’s global production expertise, TBS’s creative strength, and U-Next’s integrated entertainment platform, we are building a new framework for premium content creation and global distribution. This marks another step in our long-term commitment to elevating Japanese storytelling on to the world stage.”