CJ ENM Co., the South Korean entertainment conglomerate behind global hits like “Parasite,” will distribute 18 drama series on Amazon MX Player’s free streaming platform in India, betting on international expansion as domestic operations face mounting challenges.
The company will roll out content including romantic drama “Lovely Runner” starting September 8, with additional titles launching through 2026. The series will be dubbed in Hindi, Tamil and Telugu for Amazon’s ad-supported service, marking the company’s first major content package deal with the platform.
The India push comes as CJ ENM grapples with significant financial headwinds at home. The company reported a net loss of 531.4 billion won ($398 million) in the third quarter due to asset disposals and contract nullifications. Earnings per share for the trailing twelve months hit negative $19.03, underscoring the pressure on traditional revenue streams.
Linear television advertising revenue continues declining, while the company’s content production costs remain elevated. Drama production faced a 40.4% decline in annual lineup, reflecting broader industry pressures.
India’s streaming market presents both opportunity and risk. The country’s digital video audience reached 547.3 million users in 2024, with growth driven entirely by free ad-supported viewing. However, India maintains one of the world’s lowest annual revenue per subscription rates at just $9.67, challenging monetization prospects.
The advertising video-on-demand segment is projected to grow at 26% annually, reaching $8.3 billion by 2028, offering potential scale for content distributors willing to accept lower per-viewer returns.
The partnership with Amazon follows CJ ENM’s broader international strategy, including recent deals in Mexico and content arrangements with Amazon Prime Video. Industry analysts project India’s streaming video market to reach $5.92 billion by 2029, though intense competition from both global and local platforms continues fragmenting the landscape.
For CJ ENM, international expansion represents a necessary diversification as traditional Korean broadcasting faces structural headwinds and production costs remain stubbornly high.
