Paramount+ debuted in Asia on Thursday, launching its streaming service in South Korea on local streaming platform TVING, which is run by Korean entertainment heavyweight CJ ENM. Launching immediately, existing TVING subscribers can stream Paramount+ content at no additional cost.
The launch is part of a strategic global partnership between Paramount Global and CJ ENM, which includes licensing and distribution of content on Paramount+ and TVING, as well as seven Korean original series, the partners said in a statement. The launch will add to the fierce battle between Netflix, Disney+, Amazon, TVING and others for Korea’s global banking content and growing number of local subscribers.
TVING is a joint venture between CJ ENM, the Korean Internet company Naver and the television network JTBC, where CJ ENM holds majority control. To date, the content offered by the platform is dominated by local Korean dramas from CJ and JTBC. In Q4 2021, TVING had an 18% share of Korea’s subscriber streaming market, 33% behind Netflix, according to regional consultancy Media Partners Asia. Disney+ was estimated to have a 7% share at the time, with total SVOD subscriptions in the country reaching 14.1 million.
The new partnership brings a full range of Paramount content to South Korea for the first time, such as Paramount+ Originals, aura, yellow jackets, Super Pumped: Battle for Uber, mayor of kingstown s 1883. TVING will also receive significant content growth from the Paramount Global Library, paving the way for the platform: franchises like ᲛThe mission is impossible, best weapon, transformers, Godfather s Forrest Gump; CBS series like CSI: Crime Scene Investigation s NCIS; And animated favorites like Sponge Bob Square Pants s ᲡSouth Park.
It will be the first Korean production obtained as a result of the association. AroundHe will debut later this year on TVING in Korea. Around It will also be available on Paramount+ in all international markets where the service is available.
The action takes place in 2032, Around is a science fiction drama series about a man who receives a message from his late wife inviting him to a mysterious space called Yonder. The space is designed so that the dead can live carrying their living memories from the brain. The show raises questions about life and death and what eternal happiness means as humanity faces a world altered by advances in science and technology. Details of the director and actor were not released.
The two partners say they are also looking at opportunities and projects for the Korean adaptation of Paramount’s popular IPs, including franchises, scripted features and reality shows.
Mark Specht, Paramount CEO for Central and Northern Europe and Asia, said: “The launch of Paramount+ in Korea with TVING is a pivotal moment in our expansion as we offer our premium streaming service in Asia. South Korea is an active market for streaming as well as content, music and culture production. We look forward to working with CJ ENM to expand our broadcasting business and create great Korean content for audiences in Korea, Asia and around the world.”
Jay Young, CEO of TVING, commented: “We expect a diversified and well-established K-Content to enter the global market in partnership with TVING, the #1 K-Content platform, and Paramount, one of the best K-Content companies in the world. entertainment world. . ”
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
