CJ ENM Marketing Mix

CJ ENM is aggressively expanding its music business globally, launching new international labels and production studios to foster connections between Korean and overseas artists. This strategy aims to leverage its established K-pop expertise for broader market penetration.

The company's commitment to global audiences is evident in projects like 'World of Street Woman Fighter' and the upcoming 'Boys Planet 2', which are designed to capture international viewership and engagement. These initiatives underscore CJ ENM's ambition to solidify its position as a major player in the worldwide music scene.

In 2023, CJ ENM's music division reported significant growth, contributing to the company's overall revenue with a focus on its global entertainment IP. This expansion is supported by substantial investments in content production and artist development, anticipating continued strong performance in the international music market through 2025.

CJ ENM's product strategy centers on a diverse and expanding content portfolio, from dramas and films to music and live events, aiming to capture a wide audience. The company is heavily investing in global K-content IP development, including international co-productions and format adaptations, to broaden its reach.

Digital platforms like TVING and Mnet Plus are crucial for direct-to-consumer engagement, offering exclusive original content and K-pop fan experiences. CJ ENM's commitment to diverse storytelling is exemplified by its 'First Light StoryHouse' label, dedicated to Asian and Asian American narratives.

CJ ENM is significantly boosting its digital presence by investing in platforms like TVING and Mnet Plus, positioning them as global centers for K-content and K-pop. This strategic move aims to deepen fan connections through interactive features and exclusive content.

The company is targeting substantial subscriber increases in crucial international markets, including Japan, Southeast Asia, and the United States. For instance, TVING reported a notable increase in paid subscribers in 2024, driven by exclusive original content, demonstrating the effectiveness of their digital enhancement strategy.

CJ ENM's place strategy focuses on making its content easily accessible through a variety of channels. This includes its own TV networks like tvN, film studios, and music labels, as well as digital platforms such as TVING. They've also secured major global streaming partnerships, like the one with Amazon Prime Video, to reach over 240 countries.

The company is actively expanding its presence in key international markets, including Japan, Southeast Asia, and the U.S., and is exploring opportunities in emerging markets like India and the Middle East where Korean content demand is rising. Live events like KCON and the MAMA Awards further solidify its global reach, drawing massive audiences both in person and online.

CJ ENM leverages strategic partnerships with global streaming giants like Amazon Prime Video to significantly expand its promotional reach. These collaborations allow CJ ENM to showcase its diverse content library to a vast international audience, moving beyond traditional broadcast limitations.

The company's focus on exclusive streaming deals, such as those with Amazon Prime Video for K-dramas and films, directly translates into enhanced promotion. For instance, in 2023, CJ ENM reported a substantial increase in overseas content sales, partly driven by these platform partnerships, which provide a dedicated channel for marketing and distribution.

Furthermore, the commitment to offering content with multiple subtitles and dubbing languages in 2024 and projected for 2025 dramatically boosts accessibility and promotional effectiveness. This multilingual approach ensures that CJ ENM's productions resonate with a broader demographic, maximizing engagement and viewership across different global markets.

CJ ENM's promotional strategy is multifaceted, leveraging a vast content pipeline with over 65 new dramas and shows planned for 2025 to generate significant buzz. High-profile events like 'Mnext: Worlds of Mnet Since 2025' showcase global music strategies and new ventures, aiming to capture industry and fan attention.

Strategic partnerships with global streaming services, such as Amazon Prime Video, are key to expanding promotional reach and offering content with multilingual support, enhancing accessibility. CJ ENM's digital advertising revenue reached approximately ₩1.5 trillion in 2023, highlighting the success of its digital-first approach.

CJ ENM actively utilizes major K-Culture events like KCON and the MAMA Awards for promotion, with KCON LA 2023 attracting over 140,000 attendees and the MAMA Awards drawing tens of millions of viewers globally. These events foster direct fan engagement and amplify promotional impact through extensive digital and social media coverage, with billions of views generated.

Digital platforms, including Mnet Plus which reported over 5 million active users by Q1 2024, are crucial for direct fan interaction and organic promotion. This cross-platform synergy across TV, streaming, and social media maximizes content reach and audience engagement.

CJ ENM actively monetizes its vast content library through long-term global licensing and distribution agreements with major streaming platforms like Amazon Prime Video and Netflix. These deals, often spanning multiple years, are crucial for revenue generation, demonstrating the significant international market value of CJ ENM's intellectual property. For instance, the success of K-dramas like Crash Landing on You, distributed through such partnerships, highlights the revenue potential of these content rights.

CJ ENM's pricing strategy is multifaceted, reflecting the diverse revenue streams across its business segments. For its content, pricing is influenced by licensing agreements with global platforms, where the perceived value of K-dramas and films dictates multi-year deal values, as seen with major distribution partners.

TVING employs a tiered subscription model, with pricing structured to attract a broad user base, complemented by an advertising-supported tier to capture price-sensitive consumers. This dual approach aims to maximize subscriber acquisition and retention, with paid subscribers exceeding 5 million as of early 2024.

Live events like KCON and MAMA Awards utilize dynamic pricing for tickets, reflecting demand and artist popularity, alongside premium sponsorship packages. For instance, KCON 2022 in Los Angeles saw significant economic impact, underscoring the value proposition for sponsors seeking access to engaged fan bases.

CJ ENM's live commerce segment, CJ ONSTYLE, leverages competitive pricing on a wide array of products, driving substantial transaction volumes. Mobile sales on CJ ONSTYLE in the first half of 2024 continued to show positive year-over-year growth in transaction value.