CJ E&M’s D.J. Lee

NEW YORK: D.J. Lee, the president of the media content business at CJ E&M, tells TV AsiaPac about his strategy for the company.

TV ASIAPAC: What’s driving the gains at CJ E&M?
LEE: CJ E&M is South Korea’s number one content creation and media company. We weren’t always on top, though. In the early 2000s, most prime-time broadcast content was licensed Hollywood movies and shows like CSI. We did not have the means or the acumen to create content that would attract a large number of viewers. It became clear that we had to invest in developing and producing more diverse and compelling content.

The key to our recent success was our deficiency. We didn’t have a huge, loyal audience. That deficiency was the seed for our creation. We focused on digital marketing and social media, as well as emerging platforms that can have a massive impact, especially with the younger demographics. Our programs, such as SNL Korea and Get It Beauty, benefited from these digital strategies.

TV ASIAPAC: International expansion has become a key focus for CJ E&M over the last few years. What led you to make this a priority for the company?
LEE: About four years ago, after having just released many hit shows domestically, like Reply 1994 or Grandpas over Flowers, we gained confidence and then started to look outward.

Formats are traveling faster and further than ever before. Asian broadcasters have relied on Western content for a long time, especially for prime time. Now it’s time for Asia to capitalize on its creative content skills and resources by producing content that can be enjoyed around the world.

TV ASIAPAC: How do you see the interest in Korean content evolving in the next year or two?
LEE: Recently [Korean] reality entertainment shows have been very popular in China, as well as in North America and Europe. The Genius Game is being rolled out by ITV Studios Global Entertainment in Europe, and Better Late Than Never [Grandpas over Flowers] was licensed in the United States. Korean content is gaining popularity. Previously the Korean Wave mostly focused on drama, but now it’s evolving to also include reality and entertainment shows.

TV ASIAPAC: Tell us about your format strategy. How are you working with international companies to expand the reach of your formats?
LEE: We are trying to co-develop with major players like Endemol Shine Group, FremantleMedia and ITV Studios Global Entertainment. We also do co-productions with Chinese companies, and with partners in Thailand, Vietnam and other Asian countries. We are also expanding to target over-the-top platforms and other digital services.

TV ASIAPAC: What are the biggest challenges and opportunities for CJ E&M’s international business in the year ahead?
LEE: Our short-term goal is to succeed in developing and co-developing IP to meet global standards. In Asia, we also hope to succeed with our content on over-the-top platforms.

TV ASIAPAC: What about challenges in South Korea?
LEE: The popularity of TV shows is decreasing, as the young generation, especially those aged between 15 and 34, is going digital. In response to these changes, we are expanding our digital content capacity. We also plan to increase our workforce in the digital area.

TV ASIAPAC: What do you think are the prospects for international OTT services like Netflix in Korea?
LEE: Since our company’s focus is on producing world-class content, we think that distributors coming to Korea, like Netflix, present an opportunity for us. We are also developing our own OTT strategy.