CJ ENM and Its Production Subsidiary Studio Dragon Announces Japan-Based Joint Venture with NAVER WEBTOON to Launch “Studio Dragon Japan (Tentative Name)”
Leading entertainment company CJ ENM and its production powerhouse Studio Dragon announced today the Japan-based joint venture (JV) under the tentative name “Studio Dragon Japan” with LINE Digital Frontier, NAVER WEBTOON’s affiliated company. The new production studio will be established in the first half of the year, with 30 billion won jointly invested by the three entities.
As part of CJ ENM’s strategy to expand its multi-studio structure across the globe, Studio Dragon Japan marks CJ ENM’s fourth production studio following Studio Dragon, Endeavor Content and recently announced CJ ENM STUDIOS. With the addition of Studio Dragon Japan, CJ ENM now holds production studios in Korea, US, and Japan. This will enable the company to secure quality IPs from these global base camps which will strengthen its global competitiveness.
Studio Dragon Japan’s goal is to be become Japan’s leading production company by delivering premium content based on CJ ENM and Studio Dragon’s expertise combined with LINE Digital Frontier’s premium original IP. The new company will encompass all stages of content production from development and investment to production and distribution.
Studio Dragon, the production company under CJ ENM, is Asia’s largest scripted television studio that has over 183 global premium IP and produces about 30 series every year distributed via various global platforms. With a team of 279 creative professionals, the studio is known for its globally acclaimed mega-scale content such as “Crash Landing on You,” Hotel Del Luna,” “Sweet Home” etc. LINE Digital Frontier is the no. 1 webcomic platform in the Japanese digital comics market operating LINA MANGA, the Japanese webcomic service. The company extends its portfolio of fresh and competitive IPs by discovering and nurturing webcomic creators in Japan.
Combining CJ ENM and Studio Dragon’s expertise in producing content for a global audience and LINE Digital Frontier’s existing premium IPs, the three companies will create synergy to deliver premium content never seen before in Japan in a short span of time.
Kang Cheolgu, Executive Officer of Japan Drama Business, CJ ENM remarked “Based on CJ ENM and Studio Dragon’s global network and presence, Studio Dragon Japan will serve as the bridge between top content creators in Korea and Japan, and will act as a gateway for these top IPs to enter the global market. Studio Dragon Japan will produce premium content targeted for global channels, including streaming platforms.”
Kim Sinbae, Head of LINE MANGA (NAVER WEBTOON Japanese Business) also added “With the establishment of this joint venture, we have secured an IP value chain that can bring to life webtoons to video content in Japan. We will promote the excellence of webtoon IP through high-quality dramas aimed at the global market and solidify our position as the forerunner in the entertainment industry.”
The JV will furthermore bolster CJ ENM and NAVER’s collaborative efforts – the two entered into a partnership in October 2020 and have since produced “Sweet Home” and “Yumi’s Cells” based on NAVER WEBTOON’s IP.