How CJ ENM and Endeavor Content’s Partnership Will Be a Game-changer in the Series Content Industry

Imagine coming home from work every day and instantly forgetting everything you did there. It’s a wild concept, even if some of us might secretly like to put our working lives to the back of our minds. <Severance>, an original series created by CJ ENM’s global studio Endeavor Content, explores exactly this concept. The series, starring Adam Scott, focuses conceptually on the point where work and personal life intersect, as well as unveiling its plot twists, shock reveals and the machinations of its characters as thrillingly as you might expect from any classic TV drama. <Severance> – an Apple TV+ exclusive that arrived on the platform in February – is causing a buzz and gathering a global fanbase, while the show’s clear potential for the expansion of its unique setting and intricate plot has led to the speedy confirmation of the project’s second season.   <Severance>, however, is not the only Endeavor Content output gaining attention. Of the five series put out this year by the production company, four have revealed second season confirmations. Beyond strong commercial success, meanwhile, critical accolades have been coming in too. Both <Severance> and the Jason Momoa-starring <See> – also an Apple TV+ exclusive – have been nominated for the 74th Emmy Awards, the U.S. broadcasting industry’s most prestigious awards ceremony, which will be held on September 12 (US time). <Severance> in particular has enjoyed recognition as an outstanding series, racking up 14 nominations in different categories, including several in the Drama category. Netflix’s hugely popular <Squid Game> has also been nominated in multiple Emmy Award categories. The Character Chemistry Driving Series Drama tvN’s <Hospital Playlist>, one of CJ ENM’s hit dramas. Endeavor Content was acquired by CJ ENM in January, 2022. Crucially, both companies are big players in the production of series content, and the global entertainment industry took notice after the initial announcement of the merger and acquisition (M&A). The synergistic partnership of CJ ENM and Endeavor looks likely to play a role in the continued evolution of modern entertainment, so the markets are paying keen interest to the developing partnership too.  This can be put down to the significance of series drama. It is no exaggeration to say that the global content market is led by dramas that put out consecutive seasons featuring familiar characters as part of a linear, continuously evolving plot. Out of 24 2020-2022 Emmy nominations, only a single non-series drama received one. 46 of the top 50 U.S. dramas on the prominent global review platform IMDB – a good indicator of public opinion on film and TV content – are series dramas: a total of 92 percent. There’s just no denying their popularity, or their sway in the industry. However, while a hit series drama might be the holy grail of TV show-style storytelling, landing one is no easy feat. Even in the Korean market, with the associated global craze for Korean culture, series dramas are not as numerous as you might think. This is because dramas have to have more than fashionable casts and competent writing: they need to be compelling, addictive and constantly have their viewers coming back for more. Beyond entertaining the casual viewer, they need to cultivate enthusiastic fanbases and diehard fans. Even if long-running dramas might occasionally circle back and cover familiar themes as their season renewals continue, hardcore fans are more than happy to stay invested, especially as fresh twists and turns in the plot and the relationships between characters emerge. TVING Originals <Work Later, Drink Now> and <Yumi’s Cells> have attracted enthusiastic fans with their winning plots and approachable characters. The central ingredient to all this is character. As Richard Donner – who directed <Superman 2> and <Lethal Weapon> and who played a key role in the development of the X-Men movie franchise – once said: “The characters lead the next step of the story. It is essential to develop stories based on the relationships between compelling characters and create audience loyalty.” The modern TV era is full of examples that prove Donner’s point. When the popular American drama <Prison Break> was first made available in Korea, for example, the compelling main character, Michael Scofield – played by Wentworth Miller – was a hit with Korean audiences. The character even picked up a Korean nickname, “Seokho-pil”, showing how endeared fans had become to Scofield despite the character’s tough exterior. The more a viewer becomes invested in a show, the more they relate emotionally to its cast, and it is this phenomenon of identification that accounts for the immersive effect series dramas often have on their fans. There is even a sense of loyalty or comradery that develops in fans, who grow increasingly attached to particular dramas from within a vast variety of available content. Fans want to engage with, learn more about and get back to their favorites as soon as possible. This watchability also has a big effect on the show’s marketability. Once a series grows a fanbase, establishes its plot’s rhythm and stabilizes its identity in the cultural zeitgeist, its negotiating power becomes much stronger when in discussions with, for example, online video service platforms, also known as over-the-top (OTT) media services. If Season 1 is successful – with, say a 15% margin rate – Season 2 can seek a higher margin for its contract, such as 20%.  tvN Dramas <Alchemy of Souls> and <Poong, the Joseon Psychiatrist> have both confirmed the production of second seasons. CJ ENM’s acquisition of Endeavor Content makes for a promising partnership. Korea used to be considered something of an arid landscape when it came to series content, but things have changed, and today CJ ENM has created numerous successful series dramas and is spearheading the Korean drama popularity wave worldwide. tvN’s <Hospital Playlist>, <Alchemy of Souls> and <Poong, the Joseon Psychiatrist> all have upcoming second seasons while, on the OTT platform TVING, <Yumi’s Cells> is being received with enthusiasm by a growing fanbase. Later this year, Season 2 of the popular <Work Later, Drink Now> will also be released. Across the board, CJ ENM’s series dramas are garnering positive reviews for original storytelling based on their distinct and resonant characters and relationships. Now that CJ ENM has acquired Endeavor Content, a top name in global series drama production, both are due for an explosion of content.  “CJ ENM and Endeavor Content have started developing more than 10 projects together in the film and television sectors. We believe that the combination of CJ ENM’s presence in Asia and the role of Endeavor Content in the U.S. and Europe will generate strategic synergy, creating great value in the future,” said Graham Taylor, Endeavor Content’s CEO, expressing his high hopes for the collaboration. The partnership opens up both companies to work together in different ways. Dramas based on intellectual property rights (IP) held by Endeavor Content can be produced while IP held by Studio Dragon or CJ ENM can be remade as American shows by Endeavor. Of course, the two companies can also jointly develop brand new content together.  Now that these two masters of series drama have joined forces, what can viewers expect to see next? Might the ultimate series drama masterpiece be somewhere down the line? Whatever the case, just as CJ ENM has enjoyed the spotlight at the Cannes Film Festival in France and at the Academy Awards in the U.S., it seems likely to enjoy similar representation at the Emmy Awards going ahead. Fans will no doubt be waiting excitedly to see their favorite new dramas recognized on the international stage.