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Asian entertainment heavyweights CJ ENM and Toei Animation are teaming up to co-create film and TV series for the increasingly competitive global media marketplace at a time of soaring demand for high-end Korean and Japanese content.
The two companies will leverage their distribution prowess in their respective markets, as well as mine their vast content libraries to develop and produce live-action and animated shows for release at home and abroad.
The deal entails South Korean conglomerate CJ ENM tapping into Tokyo-based Toei Animation’s library of anime classics to develop live-action feature films, while Toei will develop anime titles from CJ ENM’s deep pool of feature film intellectual property. The two companies will also join forces to create all-new content for global audiences. The partners have established a working group to carry out these tasks, with a target set for 2023 to begin rolling out co-productions.
“Toei Animation’s IP has great potential for transmedia or cross-media storytelling, as they have an existing strong global fandom and appeals to a wide range of age groups. We are also excited to see how CJ ENM’s original content that expands over 5,000 different IPs will be able open new doors of creative possibilities for Toei Animation,” said Yi Jongmin, senior vp of CJ ENM’s content research and development center. “Through this strategic partnership, we plan to develop never-seen-before transmedia contents in both Korea and Japan.”
Added Washio Takashi, executive officer at Toei Animation: “Combined with Toei Animation’s know-how from a wealth of experience and accomplishments in producing global animation hits, we are confident that the two companies will be able to create synergy to create global mega-hit content.”
Toei has produced more than 13,100 pieces of animated content, spanning 255 feature films and 288 television series, including such iconic titles as Dragon Ball Z, One Piece and Sailor Moon. It also produces live-action movies, such as the forthcoming action film Knights of the Zodiac: Saint Seiya, adapted from the hit manga and anime of the same title.
CJ EMN is arguably South Korea’s most powerful entertainment conglomerate, responsible for such hits as Bong Joon-ho’s Oscar best picture winner Parasite, the multiply remade comedy Miss Granny and scores more.
The partnership comes at a time of increasing demand for top Korean and Japanese content, as competition between the global streaming giants heats up in the region, and interest in Asian-produced content — such as the blockbuster series Squid Game — soars worldwide.
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