Stock Groups

ViacomCBS teams up with ‘Parasite’ distributor to make Paramount+ Asia debut -Breaking


By Helen Coster

(Reuters) –ViacomCBS Inc has signed a content partnership arrangement with Seoul-based CJ ENM. This agreement marks the Asia debut of the U.S. Paramount+ streaming platform.

Co-productions will be made for films and original series, as well as content licensing and distribution on ViacomCBS (NASDAQ)’ and CJ ENM streaming services.

ViacomCBS’ Paramount+ streaming service will be launched in South Korea by ViacomCBS as part of the agreement. It will also launch in 2022 in an exclusive bundle that includes TVING and CJ ENM.

Industry leaders look beyond the United States to find growth as the U.S. streaming market becomes saturated. ViacomCBS relies on partnerships to help it grow.

South Korea, Asia’s fourth-largest economy, has established itself as a global entertainment hub with its vibrant pop-culture, including the seven-member boy band BTS and movies such as Oscar winners “Parasite,” and “Minari.”

Globally, the hit Netflix series from South Korea called “Squid Game”, has been viewed over a billion times.

ViacomCBS (NASDAQ:) and Comcast Corp(NASDAQ:] announced that they would be launching SkyShowtime Europe in August. The streaming service brings content from, Paramount+. SkyShowtime will also feature original material from Sky. They are teaming up against heavyweights Netflix, Disney+ and Disney+. SkyShowtime is available in Europe’s smaller markets, including Spain, Portugal and the Nordic countries. It will also be broadcast in Central and Eastern Europe. ViacomCBS earlier announced in July that Sky would distribute Paramount+ streaming in European larger markets. It is part of a plan to increase Paramount+’s reach into 45 European markets by 2022.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.