CJ E&M Film Division
|Headquarters||Seoul, South Korea|
|Cheil Jedang (founder)
Tae-Sung Jung (CEO)
|Services||Film distribution, Film production, cable television, music|
|Revenue||US$ 1.64 billion (2013)|
|US$ 47 million (2013)|
|US$ 5 million (2013)|
|Total assets||US$ 2.12 billion (2013)|
|Total equity||US$ 1.22 billion (2013)|
Number of employees
The CJ E&M Film Division (CJ E&M 영화사업부문 - doing business as CJ E&M Pictures), formerly known as CJ Entertainment (Hangul: 씨제이엔터테인먼트, CJ엔터테인먼트), is a South Korean entertainment company which is involved in film production, investment, distribution and exhibition. It is the largest entertainment company in South Korea and a subsidiary of CJ Group.
During early 1995, Cheil Jedang invested in the upstart film company DreamWorks SKG, and in June of the same year, Cheil Jedang established its own entertainment division. The division's title was changed to CJ Entertainment by September the next year, in time for their first film distribution deal with the movie Secrets and Lies. To aid their position in the film distribution industry CJ Entertainment built the first multiplexes of Korea with the first one, CGV Gangbyeon 11, opening in April 1998.
CJ Entertainment's importance in the Korean film industry grew in 1997-1998 when the nation was caught in the wave of the Asian financial crisis. Many smaller film companies had to close up, leaving the road open for CJ Entertainment to capitalize on the new-found popularity of Korean cinema brought on by the success of Shiri in 1999.
The success of their own films, most notably Joint Security Area that broke the Korean box-office records previously set by Shiri, helped the company grow into one of the two largest film companies in the country along with Kang Woo-suk's Cinema Service. Lately CJ Entertainment has expanded into other fields of entertainment industry, including Internet and Cable TV businesses.
From 2007 onwards, CJ Entertainment was the Korean distributor for films by Paramount Pictures, including films by DreamWorks which was bought by Paramount, as Universal Pictures had taken over the Korean branch of its joint venture with Paramount, United International Pictures. CJ had already been distributing DreamWorks films for nearly a decade as a result of investing in the studio. It holds the highest market share among the distributors at 27.8 percent.
In 2010, CJ Entertainment was merged with CJ Media, M-net Media, On Media and CJ Internet to form the entertainment & media subsidiary CJ E&M, of the CJ Group.
- "Cj E&M Corp (130960:Korea Exchange - KOSDAQ)". businessweek.com. Retrieved 2014-04-25.
- Park, Soo-mee (28 February 2011). "Korea's CJ Group Reorganizes Six Divisions into CJ Entertainment & Media: Formerly six divisions, the new entity will operate with four sub-units, including music and performance". The Hollywood Reporter. Retrieved 14 May 2012.
- Park, Soo-mee (20 January 2011). "Korean Box Office Cracks $1 Billion in 2010: Admissions were down almost 10 percent despite a 6.5 percent rise in revenue". Hollywood Reporter. Retrieved 2011-10-14.
- Kim, So-hyun (4 March 2013). "CJ rises as beacon of Korean food, shopping, pop culture". Korea Herald. Retrieved 4 March 2013.