TrueVisions, the country's largest pay TV operator, has signed a partnership with CJ E&M Corporation, a leading South Korean entertainment and media content company, to jointly produce and distribute entertainment programmes to serve the increasing demand of Thai and Asian audiences.
Both parties recently inked a memorandum of understanding to set up the joint venture, the name of which has yet to be released.
Soopakij Chearavanont, chairman of TrueVisions, said it would develop more quality content on its own and through collaborations with global partners, including CJ E&M, to meet the demand of Thai consumers.
The joint venture with CJ E&M will not only expand its audience base in Asia but also improve Thai entertainment, raising creativity and capability in entertainment production.
The partnership will also include over-the-top content covering all digital platforms, on-ground events and festivals, all of which are expected to set new standards in TV production, as well as developing new talent for the international market.
Kim Sung-su, CJ E&M's chief executive, said the company saw great opportunities in the Thai entertainment and media business. Its popular TV programmes such as Emergency Couple, Get It Beauty and Let Me In are popular among audiences here. It is pleased with the partnership with TrueVisions because it is a top industry player.
"We will do our best to produce localised content to make a great success in Thailand and then venture into other Asian countries in the future," said Mr Kim.
In March, CJ E&M formed a new film studio with Major Cineplex Group Plc, Thailand's biggest cinema chain, to produce films for the global market under the name CJ Major.
The company is expanding beyond South Korea in a bid to become a key player in the global entertainment business. CJ E&M has operations in the US, China, Japan, Vietnam and Indonesia, focusing on distributing Korean entertainment content as well as co-producing local films with renown partners.
The company has undergone rapid growth, said Mr Kim.