Paramount Global Content Distribution has closed a new licensing agreement with Coupang Play. Under the pact unveiled at Content London, the Korean streaming service will feature a Paramount+ branded destination area which includes content from Paramount+ with SHOWTIME, CBS Studios, MTV Entertainment Studios, Nickelodeon, Republic Pictures and Paramount Pictures.
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| Courtesy of Paramount Network |
Speaking about Paramount Global’s standing in Asia, Lisa Kramer, president of international content licensing and global content distribution at Paramount, said “In Asia, some companies spend millions and millions and millions on local content. It’s a steep step up, and so standing up a flagship channel in a place like Korea is probably something in on a future horizon.”
“But for us, with what we do best with our American content, it was very easy for us to find someone new to partner with,” said Kramer, who oversees programme licensing across the entire portfolio of brands that Paramount Global has to offer, including CBS, Paramount+ with Showtime, Nickelodeon, BET and Republic Pictures, as well as third-party partners including Miramax.
The executive, who was on stage with the EMEA sales team, including Matt Downer, Philippe Renouard and Bernhard Schwab, pointed out the pact with Coupang Play “is not only a pay-one deal for their service, it’s also channels. So they are aggregating channels, so we will stand up channels on their service.” The new offering will be available on Coupang Play early next year.
“We are excited to expand our relationship with Coupang to create this Paramount offering with entertainment Korean audiences love,” said Dan Cohen, chief content licensing officer at Paramount and president of Republic Pictures. “Coupang Play has a deep understanding of their customers’ tastes and demand for critically acclaimed and fan favorite films, originals and television series and we’re happy to join together to create value for subscribers, licensees and us.”
Two years ago, Paramount+ struck a deal with another South Korea-based streaming platform, Tving. It was part of a global deal between Paramount and Cj Enm, which co-owns Tving. Back in September, Paramount also inked a licensing agreement with MONO in Thailand to create a Paramount+ brand extension on the streamer Monomax which launched last month.
While at Content London, Renouard compared the deal in South Korea to what Paramount Global Content Distribution is doing in Africa, where it’s renewed its partnership with MultiChoice, a Canal+-owned major satellite television service in Sub-Saharan Africa. “It was long time partner for for both Paramount Pictures and CBS, where you could have all the Paramount first run movies and library, but also the CBS show and the Showtime shows. We renewed that agreement and transformed it to put all the Paramount+ original series,” said Renouard.
Paramount+ also has deals in place with Cosmote in Greece, Streamz in Belgium, JioCinema in India, beIN in the Middle East and North Africa and Blast TV in the Philippines.
The panel also discussed ways to monetize these brands across multiple services, including the leading AVOD service Pluto. Kramer says “the fast and AVOD space in the U.S. has exploded. It’s a proper business.” She says it doesn’t yet match the size of U.S. traditional linear networks, it represents “billions and billions of dollars of revenue offshore.”
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Original source: Variety.
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