ViacomCBS: Paramount+ To Debut In Asia As Bundle With CJ ENM's Streaming Service

(RTTNews) - ViacomCBS (VIACA, VIAC) has entered new strategic partnership with CJ ENM, which enables the company to accelerate Paramount+ subscriber growth to audiences worldwide. The deal includes co-productions for original series and films, content licensing and distribution across ViacomCBS' and CJ ENM's streaming services. Also, Paramount+ will debut in South Korea in 2022 as an exclusive bundle with TVING, CJ ENM's streaming service, marking its entry to the Asian market.

Under the strategic partnership, ViacomCBS and CJ ENM will co-develop and co-finance movies for theatrical and streaming releases. ViacomCBS and TVING will co-finance new Korean series for global distribution on Paramount+. The free ad-supported streaming television service (FAST) in America, Pluto TV, will launch a dedicated CJ ENM branded channel on December 14. Also, Paramount+ will license Korean-language series from CJ ENM's library of IP.

"We are focused on the rapid expansion of Paramount+ in markets around the world," said Raffaele Annecchino, President and CEO, ViacomCBS Networks International.