Three media giants, CJ ENM, TBS, and U-NEXT, came together and announced a new joint venture in the Korean and Japanese media space: StudioMonowa. During a signing ceremony, top leadership from all three companies attended a ceremony to provide more details on the partnership. Sang-hyun Yoon (CEO of CJ ENM), Ryujiro Abe (President & CEO of TBS), and Tenshin Tsutsumi (CEO of U-NEXT Co., Ltd.) shared their intention to combine the core strengths of all three companies.
As stated in CJ ENM’s press release, it will be responsible for “content planning and differentiation based on its global production expertise,” and TBS will concentrate on uncovering “original IP discovery within Japan and driving IP-related businesses and channel releases.” Finally, U-NEXT–Japan’s top streaming service–will be the primary distribution platform for those original titles. The strategic goal is to establish a “Global Premium IP Studio” by pooling “South Korea’s K-drama production system with Japan’s IP competitiveness.”
Through our collaboration with the leading content companies representing Korea and Japan, we will introduce hit content that targets not only Asia but the global market. By establishing an innovative partnership that integrates K-content’s systematic planning capabilities with global production expertise from the initial IP development stage, we are committed to evolving into a leading global premium IP studio. – Sang-hyun Yoon, CEO of CJ ENM
In 2025, Yoon expressed his goal to accelerate CJ ENM’s global presence, especially in light of an Ampere report showing Korea’s declining domestic drama production and Yoon himself calling the market “subdued.” Despite a global consumer demand for Korean content, the ballooning production costs have led local distributors and other global SVOD platforms to lower their drama commissions. Even Netflix has shifted focus onto unscripted shows rather than scripted ones.
Regarding CJ ENM’s relationship with TBS, the two companies already had plans to co-produce several TV shows and films through a three-year partnership. As the Chinese market continues to pose a challenge due to restrictions, the Korean entertainment company’s plans to further expand its footing through the Japanese market is a logical decision.
