KT Studio Genie and CJ CGV will jointly procure content by linking theater-exclusive releases with downstream rights distribution. The two companies said on the 7th that they signed a related business agreement and would build a cooperative model to expand theatrical screening opportunities even for films that are not easy to release on a large scale.
Under the agreement, KT Studio Genie will handle downstream rights distribution for IPTV and OTT, and CJ CGV will be in charge of theater-exclusive releases and marketing. The idea is to divide roles from the early stage of content procurement to reduce investment burdens and create a virtuous cycle that connects post-screening rights distribution.
The two companies plan to gradually expand the scope of cooperation with a goal of securing at least four collaborative titles a year. KT Studio Genie is touting its distribution capabilities with one of the largest portfolios of content rights in Korea, while CJ CGV highlights its theater infrastructure and operational know-how.
Chief Executive Jeong Geun-uk of KT Studio Genie said, "It will become a new pathway for works that had difficulty securing theatrical release opportunities," and Chief Executive Jeong Jong-min of CJ CGV said, "We will build a cooperative structure in which theaters and platforms grow together."