Seoul, Korea – CJ E&M is expanding its character business in Korea, thanks to the representation agreement it signed with DreamWorks Animation recently.
Through the arrangement, CJ E&M will market DreamWorks’ character products through numerous distribution channels of CJ Group, especially through TV home shopping channel CJ O Shopping, as well as health and beauty retailer Olive Young, which usually targets young adult consumers in their 20’s and 30’s. This is expected to create a new business model for merchandising animation characters in Korea.
DreamWorks appeals to consumers of all ages, as it understands growth potential of the global market, estimated to be worth about 160.5 billion U.S. dollars in 2015. Against this backdrop, the latest DreamWorks-CJ E&M arrangement means a great deal to both companies.
“We are creating significant synergy effects through our arrangement with DreamWorks. We plan to enhance the brand’s competitiveness and increase business profitability by customising DreamWorks’ character products to meet the needs of Korean consumers,” said Ji-Soo Han, head of the animation business division at CJ E&M.