Paramount Enters Domestic OTT Market via TVING

Mark Specht, CEO: "Entry into Korea is an Important Milestone"

[Asia Economy Reporter Lim Hye-seon] Paramount is entering the domestic market through CJ ENM's online video service (OTT) TVING.

On the 16th, Mark Specht, Paramount's Head of Central, Northern Europe, and Asia, said at the 'TVING X Paramount+ Media Day' commemorating the launch of the 'Paramount+ Brand Pavilion' held that day, "Korea is a vibrant market globally recognized for both content and OTT business," adding, "Entering Korea is an important milestone in Paramount+'s business direction." Paramount chose Korea as its first country to enter in Asia. The next country to launch will be India.

Mark Specht said, "Asia can be called the 'continent of possibilities' that will lead the future of the streaming market," and evaluated, "Considering plans to expand services to the Asian region, Korea is the perfect market to launch Paramount+." He added, "Starting with India next year, we plan to launch services in more regions."

Regarding the partnership with TVING, he said, "The partnership with CJ ENM is not limited to Paramount+ but is a strategic partnership encompassing co-production of original series and films, content licensing, and distribution."

The event was attended by Yang Ji-eul, CEO of TVING; Park Yi-beom, Head of Paramount Asia Business and Streaming; actors Ha Ye-rin and Gong Jeong-hwan, who appeared in the Paramount+ original series 'Halo'; and director Lee Joon-ik of the co-investment project 'Yonder.' 'Halo,' produced with the participation of Steven Spielberg, will be fully released on the day through TVING's 'Paramount+ Brand Pavilion.' 'Yonder,' director Lee Joon-ik's first OTT project, will also be available on TVING and Paramount+ in the second half of the year.

At TVING's 'Paramount+ Brand Pavilion,' the latest lineup and exclusive content of Paramount+ will be showcased, along with representative works of Paramount Pictures such as 'Mission: Impossible,' 'Top Gun,' and 'Transformers,' as well as popular CBS series like 'CSI' and 'NCIS,' among various other works.