As ad revenue falls, it is harder to commit to programming.
This shortfall cannot be offset by overseas sales and quick resolution seems unlikely, Seo stated.
He pointed out that box office takings for films ranking in the mid-tier have drastically declined.
TVING CEO Choi Ju-huiCJ ENM
This is a serious concern for the film market, even for next year.
What is more concerning is that there is also no momentum to turn things around, he added.
Firstly, he emphasized that cinema-going is now mainly based on film choice, not seasonality.
She said that subscription growth is set to increase by only 5% annually.
He added that many local broadcasters and planning to revive their drama production businesses in the coming year.
The subsidiaries also revealed a clear vision for global expansion.
Jang added that another artistic priority for CJ ENM is to expand and develop its pool of writing talents.
