KT Studio Genie said on Monday it signed a memorandum of understanding with CJ CGV for joint procurement of content linking exclusive theatrical releases with distribution of additional rights.

The agreement was 추진됐다 to expand theatrical screening opportunities for films that are difficult to release on a large scale. The two companies will introduce a structural cooperation model that clearly divides roles from the early stage of procurement to reduce investment risk. KT Studio Genie will handle distribution of IPTV and OTT additional rights, while CJ CGV will be responsible for exclusive theatrical releases and marketing.

KT Studio Genie is a content distributor that holds the largest number of domestic rights, with about 16,000 titles totaling 900,000 hours. CJ CGV is leading the theater industry based on differentiated theater infrastructure and technological capabilities. The two companies aim to secure at least four joint projects a year and plan to gradually expand the scope of cooperation, including their existing content.

Jung Keun-wook (정근욱), CEO of KT Studio Genie, said, "A new channel has opened for works that had found it difficult to get a chance for theatrical release to meet audiences," and added, "The two companies will work together to make the content ecosystem even richer."

Jung Jong-min (정종민), CEO of CJ CGV, said, "It is highly meaningful in that we are building a cooperation structure in which theaters and platforms can coexist," and added, "We will contribute to a virtuous cycle across the content industry."